US B2B Technology Software Sales Revenue Grew 6% in Q1 2023
Summary
“While reseller channel sales are likely to improve in the second half of this year, we expect the timing of device refresh cycles, coupled with technology needs related to the sunsetting of Windows 10, to be key growth drivers in both 2024 and in 2025.” Despite challenges on the hardware side, Circana’s Reseller Tracking Service data, which reports sales information from the top national solution providers and B2B e-commerce sites, shows nearly every commercial software category experienced sales revenue growth year over year in Q1. Security information and event management (SIEM) and data protection and recovery software saw the largest gains, each increasing 17%. “Companies are downshifting their IT spend and delaying major device refreshes until economic conditions begin to normalize,” noted Crosby. “While hardware purchases are under greater scrutiny, investments in commercial software and cloud platform services are gaining momentum as they are instrumental in keeping businesses safe and connected.” About Circana Circana is the leading advisor on the complexity of consumer behavior. Through unparalleled technology, advanced analytics, cross-industry data and deep expertise, we provide clarity that helps almost 7,000 of the world’s leading brands and retailers take action and unlock business growth.