The enterprise app market continued to grow in 2020 as organizations intensified their digital transformation efforts in response to the disruptions caused by the COVID-19 pandemic. According to a new report from IDC, in 2020 the market for enterprise applications grew by 4.1% to $ 241 billion. The top five enterprise application providers in 2020 include SAP, Salesforce, Oracle, Intuit, and Microsoft. The combined share of these five companies is 22.8%.
Analysts at IDC predict that the global enterprise application market will approach $ 334 billion by 2025. The growth will be driven by "organizations are modernizing their application portfolios to provide the digital resiliency and agility they need to thrive in the digital economy."
The demand for enterprise applications based on public clouds is expected to maintain a CAGR of 13.6% over the next five years. This is above the 6.7% CAGR for the market as a whole.
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