Featuring:
Chris Mines, SVP and Research Director
Show Notes:
While traditional software applications continue to streamline an increasing number of business processes, more software is being embedded in physical devices from machinery and highway signs to phones and cars. In fact, the use of software has never been higher, yet overall spending growth is expected to decline in the next decade.
In this episode of What It Means, Senior Vice President and Research Director Chris Mines breaks down this paradox by reviewing the various drivers behind this momentous shift, as well as its impact on the software ecosystem.
“Whether they recognize it or not, every company is in the software business,” Mines says. Vendors, service providers, buyers, finance teams, and internal IT organizations are all being affected by shifting market dynamics. For example, systems integrators and QA professionals are at risk of being replaced by algorithms and automation programs. High-touch salespeople could be replaced by online marketplaces for software. Custom developers are being shunned in favor of open source applications. Finance teams and buyers are forced to adapt to new go-to-market models.
Mines describes how these trends (and more) are flipping the enterprise software market from a vendor-driven one to a buyer’s market, with lower prices and more transparency.
