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.
"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.