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TECH BUYER Jul 2019 - IDC MarketScape - Doc # US44483719

IDC MarketScape: Worldwide Industry Cloud Professional Services 2019 Vendor Assessment

By: Zachary RabelSenior Research Analyst

Abstract

This IDC study provides an assessment of where the industry cloud market is headed, 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.

Zachary Rabel, senior research analyst of IDC's Industry Cloud research, noted, "The industry cloud market is developing and growing fast, with dozens of new industry clouds emerging each year across many industries, including financial services, healthcare, life sciences, manufacturing, retail, energy, and even government. Within these industries, more than 500 industry clouds have already been created, generating over $8 billion in revenue. Professional services firms have the capabilities to help industry players in this market and some have built long-term strategies to do so as well. While the market's tipping point is likely still a couple years away, IDC is expecting significant growth — predicting that, by 2022, revenue in this space will exceed $20 billion. IDC believes the industry cloud market represents one of the largest vertical growth opportunities for technology vendors and professional services firms through 2025 and the industry cloud segment will be an important piece of this quickly growing strategic market."


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