software PM market analysis — 2026-09-13

The software sector’s central question is no longer whether enterprises will spend on AI, but whether that spending converts into repeatable earnings. Suplari reports enterprise AI expenditure is accelerating, and Forrester describes vendors moving away from seat licensing toward consumption-based pricing. That shift creates a monetisation opportunity for vendors but introduces budgeting uncertainty for CIOs, who are being asked to accept variable costs in exchange for capacity that has yet to prove itself in recurring operating gains.

Workflow automation illustrates the execution risk directly. Competition among platforms is increasingly about integration depth, developer access, and deployment choice rather than headline feature counts, which favours vendors with mature, extensible products over newer entrants. The sourced evidence points toward AI spending still concentrated in experimentation and infrastructure rather than measurable productivity, so the case for durable earnings growth remains unproven. Sentiment here is cautious rather than negative: demand is real, but the economics depend on cost discipline that has not yet been demonstrated.