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The software market in Europe with stable growth in 2022

AI platforms are the fastest growing segment of the European software market
(photo: CC0 Public Domain)

The European software market remains resilient despite economic uncertainty and a volatile socio-political situation, according to IDC’s recently published Worldwide Semiannual Software Tracker. The report shows an overall growth of 15% year-on-year in software spending by European organizations in 2022.

Reflecting the need for innovation, artificial intelligence (AI) platforms remain the fastest-growing segment of the European software market, growing by over 37%, thanks to the performance of Palantir and AWS, among other factors.

The demand for resilience, automation and cost savings is driving increased spending on software quality and lifecycle tools – a segment growing over 26% in constant currency, led by Atlassian. Companies such as Microsoft and Gen Digital are benefiting from increased security spending, which has helped drive nearly 25% year-over-year overall market growth.

In 2022, certain software areas that suffered a decline during the pandemic began to recover. Spending on engineering applications grows by more than 12%, while spending on supply chain management applications doubles its growth rate from 2021.

On the other hand, demand for collaboration applications and workflow and content management applications began to slow in 2022, IDC reports.

“Software demand in 2022 saw a significant recovery in engineering and supply chain management applications, fueled by the accelerated adoption of digital technologies and automation, along with the need to optimize operations and reduce costs,” commented Ondrej Placi, Sr. analyst at IDC European Software.

“Conversely, the waning growth of collaboration and content management applications reflects the maturing of the market and changing priorities among organizations seeking to deal with the complexity of the new normal,” the analyst added.

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