08 February 2024
Emerging price points for AI-powered software are expected to expand the total addressable market (TAM), driving growth across tech firms of varying sizes. With recent upbeat Q4 2023 results from Big Tech such as Microsoft, Meta, and Amazon, there's a renewed optimism looking into 2024. AI's role in offering new features entices higher pricing, leading to an upsell opportunity for existing customers and expanding the TAM for software companies.
The tech market is showing signs of readiness to pay more for software with new AI functionalities, signaling a potential growth period for tech companies. This aligns with Scale Venture Partners' forecast of early-stage software companies regaining momentum in 2024. A larger market space driven by AI capabilities suggests a higher growth potential for tech businesses over time.
AI, software companies, growth, technology market, TechCrunch, market analysis
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