Futurum Predicts Revenue for Enterprise Applications Vendors in State of the Market Report: Enterprise Software (Core Business Apps), 2024

The need for scalable, cloud-based enterprise applications has grown rapidly, driven by the demand for integrated platforms that unify different business areas –  firmly establishing the top 5 enterprise application vendors in 2024. 

As businesses prioritize digital transformation, the enterprise software market will continue to expand. Cloud-based platforms will play a central role, providing businesses with the flexibility, scalability, and real-time insights needed to stay competitive. Organizations must select platforms that align with their specific needs to ensure long-term growth and success.

Key Report Findings 

• Market Overview: The cloud platforms for front-office applications market has seen rapid growth, fueled by the shift towards digital transformation and the need for integrated, customer-centric solutions. Major vendors like Salesforce, Microsoft, Oracle, and SAP dominate with comprehensive solutions spanning CRM, sales, marketing, and customer service, reflecting an increasing demand for cloud-based systems.
• Key Trends and Players: Salesforce leads with a vast ecosystem and robust CRM capabilities, while Oracle and SAP offer strong enterprise solutions with integrated front and back-office functionalities. Adobe excels in digital marketing and customer experience, and ServiceNow focuses on optimizing customer service workflows, indicating diverse specialization within the market.
• Future Outlook: The market is expected to expand with a blend of large, multifunctional platforms and specialized applications. Businesses will need to choose platforms based on their specific needs, such as integration, scalability, or industry-specific features. Salesforce, Microsoft, and Oracle remain strong contenders for large enterprises, while HubSpot and Zoho cater to SMBs.

Market Leaders

Key players like Microsoft, Salesforce, Oracle, and SAP will lead the enterprise software market in 2024 as businesses increasingly seek integrated, cloud-based solutions. Major trends include digital transformation, scalability, and the need for multifunctional platforms to drive business agility and competitiveness.

• Microsoft leads the market with its broad range of solutions, such as Dynamics 365 and Azure, which integrate CRM, ERP, and customer service capabilities. Its AppSource marketplace allows businesses to tailor their software to their needs, offering seamless integration with Microsoft’s broader ecosystem.
• Salesforce, a leader in the CRM space, closely follows Microsoft. Its cloud-native platform and expansive AppExchange ecosystem allow for extensive third-party integrations, making it ideal for businesses focusing on customer-centric strategies. Salesforce’s presence in various industries, including healthcare, strengthens its position as a dominant player in the market.
• Oracle and SAP are key players, offering comprehensive front- and back-office solutions. Oracle excels in ERP and cloud services, providing complete solutions for complex enterprise workflows, while SAP has expanded its cloud offerings, integrating CRM and ERP through the SAP C/4HANA platform.
• Adobe specializes in digital marketing and customer experience management. Its Marketing Cloud provides essential tools for content creation and customer journey mapping, making it the top choice for companies focusing on omnichannel marketing and personalized experiences.
• ServiceNow stands out for its focus on workflow automation and customer service management, helping businesses streamline operations and improve efficiency.
• For small and medium-sized businesses (SMBs), HubSpot, Zendesk, and Zoho offer affordable and robust solutions for CRM, marketing automation, and customer service. These platforms cater to businesses that require comprehensive functionality without the costs associated with larger enterprise solutions.

Vendor Market Segmentation and Revenue Breakdown Calendar Year 2024

In 2024 (calendar year), the enterprise software market is expected to generate significant revenue, with Microsoft, Salesforce, Oracle, and SAP leading the way. Microsoft is projected to earn $58 billion, Salesforce $37 billion, Oracle $33.5 billion, SAP $29.5 billion, and Adobe is forecasted to generate $19.5 billion.

About Futurum Intelligence for Market Leaders

Futurum Intelligence’s Enterprise Application IQ service provides actionable insight from analysts, reports, and interactive visualization datasets, helping leaders drive their organizations through transformation and business growth. For access to the full report or to learn more about Futurum Intelligence link to https://app.futurumgroup.com. To learn more about Futurum and our coverage area, or to connect with an analyst, link to www.futurumgroup.com.