The reason behind Salesforce’s massive growth is the enhanced adoption of Cloud computing, as this is also helping other technologies such as mobile, social, IoT, and AI advance. According to IDC, by 2024 nearly 50% of the Cloud computing software spend will be for digital transformation and this will account for half of the overall software sales. Enterprises spending on Cloud computing between now and 2024 will grow by 19% annually, from $179 billion in 2019 to $418 billion in 2024.
Salesforce has been a pioneer in offering Cloud computing solutions and its huge partner ecosystem is being one of their top drivers. Salesforce Customer 360 platform with industry-specific extensions and business-aligned apps helping both Salesforce partners and customers accelerate their growth.
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Organizations spending on cloud computing also spends on other relevant Salesforce products and services. This helped the Salesforce ecosystem in 2019 become more than four times larger than Salesforce itself and IDC predicts this will grow almost six times by 2024. Apart from this, IDC also estimates that from 2019 through 2024, Salesforce will create 6.6 million indirect jobs, which are created from spending in the general economy by those people filling the 4.2 million jobs as mentioned previously.
In the research, IDC also found out how Salesforce and its partner ecosystem will impact the revenue and job growth for six top industries. As per the report, the Financial Services industry will achieve $224.3 billion in the new revenue and 730,900 new jobs by 2024, while the Manufacturing industry will gain $211.7 billion in new revenues and 765,800 new jobs. Among the other industries, Retail ($134.8 billion revenue & 539,700 new jobs), Communications & Media ($129.7 billion revenue & 473,800 new jobs), Healthcare & Life Sciences ($68.5 billion revenue & 222,600 new jobs), Government ($64.7 billion revenue & 254,400 new jobs) are the top gainers.
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As the world’s #1 CRM provider, Salesforce has been the first choice technology partner for businesses from multiple industries and of various sizes. With its vast ecosystem, Salesforce is playing a major role in digital transformation. Being a Silver Consulting as well as ISV Partner, CEPTES has been helping enterprises with end-to-end Salesforce solutions and helping them address complex business challenges. Please get in touch with our certified Salesforce experts to discuss your project.
Resources:
- Download a full copy of the IDC White Paper, “The Salesforce Economy in the Next Six Years” at https://www.salesforce.com/salesforceeconomy/
*source: Salesforce.com
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