5 Mattermost | Unblock Your Workflow Perhaps the most critical, seismic shift to the global economy is the fulfillment of Marc Andreesen’s assertion — which almost feels cliché after a decade — that “ software is eat - ing the world .” All companies are now software companies, and developers are now mis - sion-critical to companies of all sizes and industries. Developer tools designed for a niche audience now command serious attention. As Vijay Gurbaxani wrote about GitLab’s $11 billion IPO in October 2021: “ The success of GitLab’s IPO is evidence that investors are betting on the trend towards building software as a core competence in com - panies worldwide. It’s also another timely reminder that code is a critical asset. To build valuable software better than rivals, CIOs must accelerate their investments in in-house software capabilities— talent, tools and development practices—while tapping GitLab or other productivity offerings that can supercharge their armies of coders. ” Simply put, companies now compete on their ability to build and operate software. CIOs must invest in software capabilities to stay competitive — and they are. Gartner predicts that worldwide IT spending will exceed $4.5 trillion in 2022 , and software engineering roles represent one of the fastest-growing job categories in the world. What does this mean for developer teams in 2022? Let’s look at some of the key trends that will have a massive impact on how developers move forward. 1 Software Has Eaten the World: Every Company Is Now a Software Company CHAPTER