So in January of 2021, Gartner predicted enterprise SaaS spend would grow by a stunning 10.2% next year. Unprecedented levels of growth for business software in the enterprise.

They’ve now updated that and predict an even further, and stunning, acceleration in enterprise software spend in 2022 — now up to 11.5% growth:

Put differently, Gartner after surveying 2,000 CIOs is now projecting enterprises will spend $110 billion more on enterprise software in 2022 … than they predicted just in January. In January, they predicted $557B in spend for 2022. Now 10 months later, with more data, they’ve revised that upwards to $669B.

Whoa.

Now, this number includes a lot, including a lot of infrastructure software, which Gartner says will outpace application software. But still.

The Best of Times in SaaS and Cloud, indeed.

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Jason M. Lemkin

Jason M. Lemkin

SaaStr. Pre-nicorn VC. Co-Founder CEO of EchoSign. Served as VP, Web Biz Svcs at Adobe. Also built nanobatteries implanted inside your body.