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Worldwide Software as a Service and Cloud Software Market Shares, 2023: Generative AI Generates Explosive Growth in Platform-Based Solutions

Publisher IDC
Published Jul 29, 2024
Length 10 Pages
SKU # IDC19039358

Description

Worldwide Software as a Service and Cloud Software Market Shares, 2023: Generative AI Generates Explosive Growth in Platform-Based Solutions


This IDC study examines the SaaS and cloud software market in 2023 and includes a list of the top 20 vendors by revenue. In 2023, the SaaS and cloud software markets experienced robust growth of 21.0%, with Microsoft leading at $91.1 billion in revenue and a 17.0% market share. Despite a slight decline from the previous year, companies like Salesforce and Google also saw significant growth, driven by the demand for AI-driven business transformations. The industry is moving toward hyper-innovation, focusing on generative AI and large language models, indicating a major technological platform shift."Generative AI ushers in a seismic platform shift, transforming jobs and heralding an era of hyper-innovation in the SaaS and cloud software markets," says Frank Della Rosa, research vice president, SaaS, Business Platforms, and Industry Cloud, IDC.

Please Note: Extended description available upon request.

Table of Contents

10 Pages

IDC Market Share Figure

Executive Summary

Advice for Technology Suppliers

Market Share

Who Shaped the Year

Microsoft

Google

Salesforce

Market Context

Significant Market Developments

Methodology

Market Definition

Software as a Service and Cloud Software

Related Research

Pricing

Currency Rates
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