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GP Bullhound publishes its latest quarterly market reports today.

Read all about the companies and key trends that we see in Software, Digital Services, Fintech, Digital Media and Digital Commerce.


In our latest report, we have highlighted the key software trends in Q1 2023. Organisations are increasingly turning to “digital twins” to simulate supply chains, CDPs are expanding far beyond traditional marketing use cases, cost optimisation software is pervasive as businesses tighten their belts, and SaaS companies are adopting first- or third-party training tools and services to help with retention via customisable offerings.”


Jonathan Cantwell, Partner & Head of Software at GP Bullhound

On the dealmaking side – and along with the broader market – we’ve witnessed a continued pull-back in Software sector activity. However, Q1 has seen an improvement in public valuations and assuming this stability continues, we expect pent-up demand and ample dry powder to drive deployment with a focus on higher quality assets.”


Matt Stamp, Partner in the Software team at GP Bullhound

Download GP Bullhound’s Q1 2023 Global Software Market Perspectives


We have seen various trends shaping the Digital Services landscape in Q1. Customer Data Platforms and related services are growing in importance amid rapidly increasing volume, sources, and types of customer data; demand for content marketing agencies is rising, as brands seek new audiences; and digital marketing agencies globally are racing to launch Generative AI-aided services for customers. On the dealmaking side, a high volume of Q1 deals shows activity rebound to its highest level since pre-pandemic, following a muted end of H2 2022.”


Oliver Schweitzer and Ravi Ghedia, Executive Directors at GP Bullhound

Download GP Bullhound’s Q1 2023 Global Digital Services Market Perspectives


Several trends emerged across the Fintech space in Q1. Artificial intelligence continues to transform the financial services industry, with fintechs responsible for a significant portion of AI growth when compared to other sectors. Digital-first fintechs are also changing the daily lives of CFOs, with the latter adopting technology at an unprecedented pace and doing away with outdated legacy tools. Lastly, we’re seeing Zero-Knowledge Proof methods on the rise, as they enable faster and cheaper payments by reducing the need for intermediaries.”


Claudio Alvarez, Partner at GP Bullhound

Download GP Bullhound’s Q1 2023 Global Fintech Market Perspectives


In this quarterly report, we have highlighted several key trends driving the sector: generative AI usage in personalised user experiences is rising steadily, influencer marketing continues to thrive as a distinctive method for brands to reach customers, and increasing audience demand for real-time streaming is pushing social media and TV streaming platforms to further capitalise on this opportunity. The GP Bullhound diversified Digital Media indices had a phenomenal quarter, rising by c.30% compared to Q4 2022. The best performers were Diversified Content, rising by almost 40%.”


Alec Dafferner, Partner at GP Bullhound

Download GP Bullhound’s Q1 2023 Global Digital Media Market Perspectives


In Q1, we’ve seen a continuation of several trends. Online pharmacy delivery services are growing as the healthcare industry becomes more digitised; immersive shopping experiences keep rising, enhanced by artificial intelligence; and pressure to become carbon neutral mounts on digital commerce businesses. Despite the challenging dealmaking environment, ecommerce offered investors pockets of opportunities in a relatively quiet first quarter.”


Alessandro Casartelli, Executive Director at GP Bullhound

Download GP Bullhound’s Q1 2023 Global Digital Commerce Market Perspectives

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