TECH SUPPLIER Jul 2021 - Market Share - Doc # US46438721
Worldwide Financial Applications Market Shares, 2020: Pandemic Reshapes the Competitive Priorities
By: Kevin PermenterResearch Director, Financial Applications, Mickey North RizzaProgram Vice President, Enterprise Applications and Digital Commerce, Jordan JewellResearch Director, Digital Commerce and Enterprise Applications, Juliana BeauvaisResearch Manager, Enterprise Applications
This IDC study discusses the worldwide market shares of the leading vendors in the financial applications market. The worldwide financial applications market increased in 2020 to reach $33.1 billion, with revenue increasing by 4.8% over 2019's $31.6 billion. The market for financial applications is being driven by the movement to the cloud for more efficient and effective financial management across the enterprise.
"It will be important for software vendors and customers alike to understand that now more than ever the true value of financial software lies not only in its features and functionality but also in the relationship vendors cultivate with their customers," says Kevin Permenter, research manager, Enterprise Applications at IDC.
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