In continuation to the Tech Trends, I wanted to share with you what I did also told investment bankers about this market close to my heart. I used an excellent report issued by Bessemer Venture Partners as a source.
So much has changed in just 20 years. As of February 2020, there are more than 86 private cloud unicorns. On February 5, 2020, the cloud market value surpassed the $1 trillion market capitalization, with a 45% growth rate.
Software as a Service (SaaS) and Infrastructure as a Service (IaaS) are 2 areas of the cloud to be looked at in more depth. Vendors like Microsoft, Salesforce, Adobe, SAP, Oracle for SaaS, and Amazon, Azure, or Google for IaaS are the dominating giants.
We’re living in a cloud-first world. While many would say software is eating the world, I think that’s only half the story. Cloud is powering the future of software.
At current growth rates, the cloud could penetrate nearly all enterprise software in a few years. Bessemer Venture believes that the cloud industry ($172 billion), and the cloud delivery model, will transform and grow beyond enterprise software ($456 billion) and technology ($3.7 trillion).
The cloud has already moved beyond the enterprise software market and will continue to, as we turn toward the cloud for transportation, healthcare, education, and more.
What is your take? Please comment and engage.
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