Enterprise application software revenue to decline 2,2% to $237-billion in 2020, according to the research data analysed and published by Stock Apps.
A Gartner report states that the global enterprise application software industry is set to drop by 2,2% in 2020 to $237-billion.
However, based on a Statista report, the outlook could be worse, as it predicts a 4,2% drop to $195,1-billion. On the bright side, both reports project a rebound in 2021.
According to IDC, the market shot up by 7,5% in 2019 to $224,6-billion. For the five-year period between then and 2024, it is projected to grow at a 3,4% compound annual growth rate (CAGR) to $265,7-billion.
On the other hand, SAP was the top player in the global industry in 2019. According to IDC, it had a 7,7% market share, ahead of Oracle, which had a 5,1% share. Salesforce was third with 5% while Intuit was fourth with 3%.
For the quarter which ended in September 2020, SAP reported a 4% decline in revenue to €6,54-billion. Cloud revenue grew by 11% YoY during the quarter to €1.98 billion, but software licenses dropped by a massive 23% to €0,71-billion. Overall, SAP’s cloud and software revenue fell by 2% to €5,54-billion.
During its FY21 Q1 which ended in August 2020, Oracle returned to growth, posting a 2% revenue increase to $9,37-billion. Comparatively, it had suffered a 6.3% decline in the previous quarter. Its cloud and licenses segment, which accounts for most of the revenue, grew by 2% to $6,95-billion.
In its FY21 Q2 which ended in July 2020, Salesforce posted a 29% upsurge in revenue to $5.15 billion. The company’s sales cloud revenue grew by 13% to $1,28-billion while the service cloud segment soared by 20% to $1,3-billion.
Intuit also had an impressive quarter during its FY20 Q4 which ended in July 2020. Its revenue shot up by a whopping 83% to $1,8-billion.