I know things can be tough out there but Gartner last week still predicted enterprise software would grow 9.3% this year to a total of $856,029,000,000 in spend in 2023
Go grab some of it
Even if it’s a bit harder than 12 months ago pic.twitter.com/z8UQx5puzK
— Jason ✨Be Kind✨ Lemkin (@jasonlk) January 30, 2023
So the latest data from Gartner is out, and overall it’s a mixed bag — but good for SaaS in 2023:
- Overall IT spend will grow now just 2.4% in 2023 to $4.5 trillion, way down from the 5.1% projected last quarter. CIOs are cutting back overall much more than anticipated just a few months ago.
But — the cuts aren’t really coming in enterprise software budgets.
- Gartner is predicting enterprise software spend will grow a stunning 9.3% to $856 Billion in 2023. And that’s up from 7.1% growth in 2022 and a total of $783 Billion in enterprise software spend.
Software is the one place CIOs still plan to spend a lot more on in 2023 than 2022:
This doesn’t mean it’s easy out there. No data says that. And CIOs and enterprises have clearly changed their software spending priorities.
But it does mean at a higher level, the trends are still positive for SaaS and Cloud spend. Even if we have to push through, in some cases, a rough patch.