So Gartner is cutting back its growth projections for this year a bit. It was previously projecting a 13.8% spend in software spend in 2024 to over $1 Trillion.
It’s now cutting that back a bit to 12.7% growth in 2024, basically flat with 2023.
But that’s still a lot of growth.
To over $1 Trillion in software spend worldwide — for the first time ever.
(note: Gartner’s press release has a typo in it so referencing Silicon Angel version for moment)
While that’s an epic amount of spend, it’s still tougher out there. Gartner notes:
- CIOs are still dealing with “change fatigue” of all the new apps they’ve bought over the past few years. A real issue
- GenAI is a cataylst for change, but it’s not yet materially impacting spend on its own. Rather, efficiency is the driver.
The money is there though, folks. Do something that really matters. Do something 10x better. Earn that budget. Make it so.
The post Gartner: 2024 Will be Tougher Than We Thought, But We’ll Still Cross $1 Trillion in Software Spend appeared first on SaaStr.
via https://www.aiupnow.com
Jason Lemkin, Khareem Sudlow
