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Jun 2016 - IDC MarketScape - Doc # CA40525216

IDC MarketScape: Worldwide Industry Cloud Professional Services 2016 Vendor Assessment

Author: Eric Newmark
Program Vice President, Cloud, SaaS and Industry Cloud

Abstract

This IDC study provides an assessment of where the industry cloud market is going, how the major professional services firms servicing the space compare with each other, and what criteria are most important for companies to consider when selecting a service provider.

Eric Newmark, vice president of IDC's Industry Cloud research noted, "The industry cloud market is young, yet growing fast, with dozens of new industry clouds emerging each month across many industries, including financial services, healthcare, life sciences, manufacturing, retail, energy, and even government. Within these industries, more than 150 industry clouds have already been created, representing $300–500 million in revenue. The market's tipping point is approaching, and we expect accelerated growth over the next 5+ years. We predict that by 2020, more than 1,000 industry clouds will exist, generating revenue in the tens of billions of dollars. IDC Insights believes the industry cloud market represents one of the, if not the, largest vertical growth opportunity for technology vendors and professional services firms through 2025."

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