SAP, Salesforce, Oracle, Microsoft, Intuit lead enterprise application market

The top 5 enterprise application vendors in 2023 were SAP, Salesforce, Oracle, Microsoft and Intuit, according to IDC report.

Mickey North Rizza IDC

SAP, Salesforce, Oracle, Microsoft and Intuit accounted for 21.2 percent of worldwide revenues of the enterprise application market.

The difference between the share of SAP and Salesforce in the enterprise application market is just 0.2 percent, IDC said. IDC regards SAP and Salesforce as statistically tied for the number 1 position in the worldwide enterprise applications market for 2023.

The enterprise applications market grew 12.0 percent in 2023 with worldwide revenues reaching $356 billion.

IDC forecasts revenues for the enterprise applications market will be more than $600 billion in 2028.

Demand for AI-powered enterprise applications is driving the growth.

The integration of AI and GenAI into enterprise applications brings more intelligence, faster time to insights, and enhanced decision velocity to users. As a result, employees can have a greater reliance on enterprise software as a coworker to help solve business problems.

“SaaS and cloud-enabled applications continue their growth across the enterprise applications market. With new innovation such as generative AI and its plethora of use cases, the opportunity to reshape businesses with intelligent technology using cloud applications brings greater competitive advantage,” said Mickey North Rizza, group vice president, Enterprise Software at IDC.

Public cloud will become the foundational deployment model for enterprise applications software, accounting for more than 70 percent of new enterprise applications spending in 2028. Demand for public cloud-based enterprise applications is forecast to produce a five-year compound annual growth rate (CAGR) of 16.5 percent, surpassing the 11.1 percent CAGR for the overall market.

The enterprise applications market is comprised of secondary markets such as: enterprise resource management (ERM), customer relationship management (CRM), engineering applications, supply chain management (SCM), and production applications. Each of these secondary markets consists of multiple functional markets.

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