The 2024 Software Spend Report by HG Insights highlights that SMB and Mid-Market companies, defined as having fewer than 1,000 employees, now represent 97% of all U.S. businesses and are projected to spend $780.5 billion on software in 2024. Key software categories include Cloud Infrastructure, Application Platform Management, Security, Sales & Marketing, and Database Management. Cloud Infrastructure leads in spending with $124 billion, while Sales & Marketing tops customer count with over 1.5 million buyers. The top industries investing include Finance, Manufacturing, and Professional Services, underscoring the strategic significance of these buyers.

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