The software industry is expected to benefit from a few major secular trends that will likely continue to drive growth in 2022, an analyst at Rosenblatt Securities said in a recent note.
These secular trends will likely remain in place for at least several more years until the majority of enterprise IT infrastructure, including applications and data storage, has been modernized and re-platformed to the cloud, according to analyst Blair Abernethy.
3 Major Trends Benefiting the Software Industry
Accelerating Digital Transformation
The Digital transformation that has been hastened by the COVID-19 pandemic will continue to accelerate, the analyst said. This includes developments such as deeper IT process automation and use of robotic process automation to bridge system gaps, cloud-based data storage, and data engineering workflows, digital collaboration capabilities across businesses and their extended supply chains, next-gen ecommerce capabilities, IoT, and the broader application and distribution of analytics, he added.Shift to Cloud Architecture
Enterprises are rapidly re-writing and developing next-gen cloud-native applications that can take full advantage of containers, microservices, functions, and serverless technologies at scale, the analyst said.
