The global enterprise software industry will grow 8.2% this year, despite the economic slowdown, says analyst Gartner.
Worldwide enterprise software revenue is expected to total £95.5bn this year, an 8.2% increase on last year, said the analyst.
Although the software market is forecast to grow, it will face challenges this year.
"Software suppliers that have a balanced mix in channel, new licence and maintenance revenue streams, and flexibility in contractual terms such as software as a service, open source and outsourcing, have the strongest options for continued growth," said Gartner analyst Joanne Correia.
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"Shrinking discretionary spending budgets will heighten competition for new maintenance and licence revenue streams and place a renewed emphasis on supplier performance and viability," said Correia.
"Market consolidations and restructurings may accelerate as mergers and acquisitions among smaller and larger suppliers increase," she added.