TD Cowen Forecasts 15% Microsoft 365 CAGR

TD Cowen survey of 689 US buyers finds 92% use at least one of Microsoft Copilot, Google Gemini, or ChatGPT.
75% report positive ROI from AI agents; 79% of Microsoft 365 and 80% of Google Workspace users to upgrade in 12‑18 months.
TD Cowen flags Salesforce, ServiceNow and SAP as top beneficiaries, noting horizontal AI agents deliver 3x+ returns for 58% of users.
Microsoft 365 revenue CAGR lifted to 15% FY2030, targeting $105.6 bn; autonomous AI use projected to rise to 77% by H2 2027.