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IDC Semiannual Software Tracker Reports Steady Increase for Software Revenues in 2022 and Forecasts Further Growth for the Next Several Years

The International Data Corporation (IDC) Worldwide Semiannual Software Tracker finds strong revenue results for the global software industry among fears of inflation and the ongoing Russia-Ukraine war. Current geopolitical and macroeconomic turmoil is not expected to have a decisive impact on software growth as businesses push for more automation and digitalization to save costs and improve supply chains across the globe.

On a regional level, Europe, the Middle East, and Africa (EMEA) saw year-over-year revenue growth of 7.1% in current currency ($USD) and 16.4% in constant currency in the first half of 2022. This represented a slower growth than the other global regions where the Americas reached 16.4% year-over-year growth in both current and constant $USD and Asia/Pacific (including Japan) (APJ) saw a year-over-year increase of 10.6% in current currency and 18% in constant $USD.

The main reason for a slower performance in EMEA lies in inflationary impacts, especially with the weakening of the euro to the dollar. This is evidenced in the much closer performance of EMEA in constant currency, which eliminates the effect of fluctuating exchange rates. Apart from the macroeconomic headwinds for EMEA, there was also a substantial year-over-year decline in Russian revenues – down 22.5% in current $USD and down 18.5% in constant currency – which is expected to continue into the second half of the year as more companies pull out of Russia.

"Despite the many challenges facing the EMEA region, and Europe in particular, software demand remains strong," said Thomas Vavra, associate vice president, European Software Data & Analytics. "As was the case with Covid, adversity can be a driver of software spending as companies seek to remain competitive and agile."

According to the Software Tracker forecast, the EMEA region is expected to grow 8.9% year over year in 2023. This is about two percentage points lower than the Americas and three percentage points lower than APJ. The compound annual growth rate (CAGR) for the four-year period 2022-2026 is expected to reach 10.9%, which is just a half percentage point below the Americas. In terms of primary markets, Application Development & Deployment is expected to outperform Applications and System Infrastructure Software by a substantial margin and achieve a 17.1% CAGR across the observed period.

"In recent years, there has been a lot of spending on applications. Now, companies and organizations are seeking ways to maximize their performance and utility. As a result, we see renewed focus on development and deployment tools and platforms such as Analytics and Business Intelligence, AI platforms, and data management," said Vavra.

A graphic illustrating IDC's worldwide software forecast by global region (Americas, APJ, and EMEA) is available by viewing this press release on IDC.com.

IDC's Worldwide Semiannual Software Tracker provides subscribers with an in-depth look into the competitive landscape and the market dynamics shaping the current and future direction of the global software industry. It tracks and details individual software vendors' historical business performance, and it forecasts the development of the industry five years into the future — across 54 geographies and 81 discrete software market segments.

About IDC Trackers

IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly Excel deliverables and on-line query tools.

For more information about IDC's Worldwide Semiannual Artificial Intelligence Tracker, please contact Thomas Vavra (tvavra@idc.com).

Click here to learn about IDC's full suite of data products and how you can leverage them to grow your business.

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.

The IDC Worldwide Semiannual Software Tracker finds strong revenue results for the global software industry in the first half of 2022 among fears of inflation and the ongoing Russia-Ukraine war.

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