Austin, Texas, USA, December 17, 2025
Futurum Releases Its 2H 2025 Hyperscaler Marketplace Market Sizing & Five-Year Forecast, Revealing Rapid Enterprise Adoption and a Structural Shift Toward Marketplace-Mediated Software Buying
More than $21B USD in enterprise software revenue will be attributed to transactions conducted through hyperscaler marketplaces in 2025—tripling since 2023—and rising to $42B by 2029, according to new research from The Futurum Group. The findings are based on the newly published 2H 2025 Hyperscaler Marketplace Market Sizing & Five-Year Forecast report, which analyzes marketplace transaction volumes, regional growth patterns, and category-specific trajectories across AWS, Microsoft Azure, Google Cloud, Oracle, and Alibaba.
Hyperscaler marketplaces, once a side-door procurement tool, have reached an industry inflection point. They now account for roughly 5% of global enterprise software GMV and are becoming a structural channel for multi-vendor software purchasing, compliance management, and renewal automation.
Figure 1: Revenue Through Hyperscaler Marketplaces 2022–2029 (in USD Billion)
Alex Smith, Research Director at The Futurum Group, said, “Enterprises are no longer experimenting with marketplaces; they’re operationalizing them. The shift of committed cloud budgets toward ISVs is reshaping procurement, channel economics, and hyperscaler competitive dynamics. What was once an infrastructure-adjacent channel is rapidly becoming a critical software purchasing backbone for many enterprises.”
The research highlights several key developments shaping marketplace expansion:
- Marketplace-associated revenue more than triples between 2023 and 2025, surpassing $21B and signaling structural adoption rather than exploratory usage.
- Numerous ISVs reporting over $1 billion in marketplace transactions (total contract value), including CrowdStrike, Palo Alto Networks, and Snowflake, which will contribute to future marketplace-associated revenues.
- AI, Data & Analytics emerges as the fastest-growing submarket, projected to reach $9.3B by 2029 as hyperscalers expand AI-native catalogs and model-serving offerings.
- Regional momentum shifts globally: APAC and EMEA accelerate through compliance alignment and sovereign-cloud frameworks, while North America enters a saturation phase.
- Industry adoption widens, with Healthcare, Government, and Education showing the steepest growth post-2026 as regulatory clarity unlocks procurement velocity.
Figure 2: Hyperscaler Marketplace Sub-Market Forecast CAGR (2025–2029)
Smith continued, “The next phase of marketplace competition shifts from catalog breadth to transaction automation, enterprise agreement integration, and even procurement advisory. By 2029, marketplaces will not just complement procurement—they will be an essential operating fabric connecting ISVs, hyperscalers, and enterprise buyers.”
Additional Key Findings from the Report:
- The market grows from $21B in 2025 to $41.8B in 2029, an 18% CAGR under the Base Case.
- In the Bull Case, marketplaces capture 8–10% of global enterprise software spend, reaching $50–55B by 2029.
- Business apps and productivity, as well as AI/Data, lead category growth, while Infrastructure and Security decline as a share of the overall marketplace volume.
- APAC is expected to become the largest source of incremental global growth between 2026 and 2029, driven by localized billing, sovereign cloud investments, and accelerated AI adoption.
- Government & Public Sector buyers emerge as the strongest late-cycle adopters as compliance frameworks mature and procurement modernizes.
Subscribers can read more in the full report—“2H 2025 Hyperscaler Marketplace Market Sizing & Five-Year Forecast”—on the Futurum Intelligence Platform. Non-subscribers click here for more information.
About Futurum Intelligence for Market Leaders
Futurum Intelligence’s Ecosystems, Channels & Marketplaces practice area provides actionable insight from analysts, interactive datasets, and interactive visualization datasets, helping leaders drive their organizations through transformation and business growth. Subscribers can log into the platform at https://app.futurumgroup.com/, and non-subscribers can find additional information at Futurum Intelligence.
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Author Information
Alex is Vice President & Practice Lead, Ecosystems, Channels, & Marketplaces at the Futurum Group. He is responsible for establishing and maintaining the Channels Research program as part of the overall Futurum GTM and Channels Practice. This includes overseeing the channel data rollout in the Futurum Intelligence Platform, primary research activities such as research boards and surveys, delivering thought-leading research reports, and advising clients on their indirect go-to-market strategies. Alex also supports the overall operations of the Futurum Research Business Unit, including P&L segmentation, sales and marketing alignment, and budget planning.
Prior to joining Futurum, Alex was VP of Channels & Enterprise Research at Canalys where he led a multi-million dollar research organization with more than 20 analysts. He played an integral role in helping the Canalys research organization migrate into Omdia after having been acquired in 2023. He is an accomplished research leader, as well as an expert in indirect go-to-market strategies. He has delivered numerous keynotes at partner-facing conferences.
Alex is based in Portland, Oregon, but has lived in numerous places, including California, Canada, Saudi Arabia, Thailand, and the UK. He has a Bachelor in Commerce and Finance Major from Dalhousie University, Halifax Canada.
