Cyber, AI drive software spending to double-digit growth through 2029

Cloud security and identity and access management tool purchases insulated the market from tariff-induced economic shocks, according to Forrester.

Dive Brief:

• Enterprise software spending will sustain double-digit growth through 2029, according to Forrester projections. Vendor revenues grew 11% on average during the first quarter of the year, the analyst firm said in a July report.
• Infrastructure software spend will lead the charge, increasing 13.3% over the next four years, as enterprises stock up on cloud services, security tools and AI capabilities. The market for application software, a category that includes IT operations management, enterprise resource planning, and supply chain tools, will see slower growth of 9.5%, the firm said.
• Database management services will help shore up software market growth, as enterprises lay the groundwork for generative AI and agentic automation tools. The firm previously estimated off-the-shelf AI governance software spend to more than quadruple from 2024 to 2030 ...