Software spend to rebound in 2024 as ERP, database move to SaaS
Summary
• None Global commercial software spending will grow by more than 12% annually for the next several years, , according to a Forrester analysis of vendor financial reports, secondary research sources and trade association data . “We are definitely tracking the continued shift to the cloud,” Liz Herbert, Forrester VP and principal analyst, told CIO Dive in September. “This program offers further commercial incentives to support our customers on their transformation journeys and accelerate their move to SAP’s cloud ERP,” CEO Christian Klein said during an October Q3 2023 earnings call. Cloud-based, as-a-Service database offerings have made it easier to stand up new infrastructure without incurring upfront licensing fees, boosting growth for data cloud companies Snowflake and Databricks. The enterprise software company and emerging hyperscaler reported cloud services and license support accounted for nearly three-quarters of its $12.9 billion in revenue in the three-month period ending Nov. 30.