G2 today released The State of Software, Q4 2023, a new report series which examines trends from its B2B software and services marketplace, based on proprietary data across 2 million+ trusted reviews, 150,000+ products and services, 2,000+ categories, and 80 million annual visitors.
According to the inaugural report, B2B software is growing at an average rate of 7%, based on the number of software listings on the G2 marketplace over the past five years. In exploring the trends within this growth, G2 observed the five fastest-growing software markets over the past year as:
"The B2B software landscape is constantly evolving. As the world's largest software marketplace, we have a direct lens into what's happening in real-time ? from real user reviews, website traffic, product and category insights, and more," said Chris Voce, VP of Market Research at G2. "Based on our Market Research analysts' expertise of G2 marketplace data and taxonomy, we're proud to introduce the inaugural State of Software report and share these insights with vendors, investors, and buyers as a window into where innovation is happening and where key software markets are headed."
Beyond identifying the fastest-growing software markets, The State of Software explores what's driving that growth ? outlining the fastest-growing categories and top visited new products within each of those markets. Key takeaways from these insights reveal:
"The software industry has witnessed exponential growth in the past five years due to elevated digital reliance, wider adoption of cloud computing and SaaS, and significant advancements in Artificial Intelligence and Machine Learning," Voce added. "While AI ranked as the fastest-growing software market over the past year, it's disrupting the entire software landscape as AI functionality and features drive innovation and growth in other categories like Design and Sales software. It's clear that AI is powering the rapid growth of software, with new categories and products emerging to meet buyers' needs to remain competitive while driving efficiency and innovation."
Download G2's complete State of Software report and stay tuned for future quarterly editions of this report, which will serve as a guide on what's trending: the software categories emerging, growing fastest, as well as the trends with vendors and products within those markets.
About G2
G2 is the world's largest and most trusted software marketplace. More than 80 million people annually ? including employees at all Fortune 500 companies ? use G2 to make smarter software decisions based on authentic peer reviews. Thousands of software and services companies of all sizes partner with G2 to build their reputation and grow their business ? including Salesforce, HubSpot, Zoom, and Adobe. To learn more about where you go for software, visit www.g2.com and follow us on LinkedIn.
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