target audience: TECH SUPPLIER Publication date: Jul 2023 - Document type: Market Share - Doc Document number: # US51007823
Worldwide Software as a Service and Cloud Software Market Shares, 2022: Advanced AI and the Era of Hyper-Innovation
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Abstract
This IDC study examines the SaaS and cloud software market in 2022 and includes a list of the top 20 vendors by revenue.
"SaaS continues its impressive growth trajectory as suppliers expand R&D investments to deliver new features and capabilities faster and with less friction. Generative AI will cause a massive architectural shift that will cause the massive installed base of legacy software to be reimagined alongside industries and business models. As a result, we are entering an age of hyper-experimentation. And while it may be a while to chart a clear path to ROI, businesses must invest now and become more practiced at rapid cycles of experimentation and applied innovation," said Frank Della Rosa, vice president of SaaS, Business Platforms, and Industry Clouds at IDC.