Top 10 Cloud Software Vendors, Market Size and Forecast 2019-2024

Worldwide Cloud Applications Market to reach $166.8 billion by 2024, compared with $124 billion in 2019 at a compound annual growth rate of 6.1%.

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In 2019, the top 10 Cloud software vendors accounted for nearly 45% of the global Cloud applications market which grew 14% to approach nearly $124 billion in Cloud subscription revenues.

Last year Microsoft led the pack with nearly 11% market share riding on a 27% jump in Cloud subscription revenues. Salesforce was #2, followed by SAP, Oracle, and Adobe.

This was the second year in a row as Microsoft surpassed Salesforce to become the No. 1 Cloud applications vendor as the Windows developer benefited from its successes in migrating its army of Office users to the Cloud with Office 365, which now tops 200 million monthly active users. You can read more our analysis here on Microsoft’s expansive Cloud applications strategy.

We ask the simple question: Who’s buying Cloud applications from whom and why? And we provide the answers – supported by decades of research – to our clients around the world. (Sample from our Apps Database)

Exhibit 1: 2019 Cloud Applications Market Shares Split By Top 10 Cloud Vendors and Others
Exhibit 1: 2019 Cloud Applications Market Shares Split By Top 10 Cloud Vendors and Others

Through our forecast period, the Cloud applications market size is expected to reach $166.8 billion by 2024, compared with $124.1 billion in 2019 at a compound annual growth rate of 6.1%.

The future of the Cloud applications market is fraught with uncertainty as leading vendors are engaged in a delicate dance that could turn any cordiality into an ugly spat. Collectively the top 10 Cloud applications vendors, as shown in Exhibit 1, hold only 45% of the market, while the rest is splintered into hundreds of vertical and functional segments.

Exhibit 2: Worldwide Cloud Software Market 2019-2024 Forecast, $M
Year201920242019-2024 CAGR, %
Total1240831668296.1%

Source: Apps Run The World, February 2020

Top 10 Cloud Software Vendors

Software As A Service covers a range of enterprise applications delivered via the Cloud for business functions and processes such as Order to Cash, Hire to Retire as well as industry-specific capabilities like Jail Management Software, Electronic Health Records as well as other apps for 21 verticals in our taxonomy.

The implication is that Salesforce finds itself a formidable competitor in Microsoft that now has the moving parts of its extensive Cloud applications portfolio firing on all cylinders.

Here are the rankings of the top 10 Cloud software vendors in 2019 and their market shares.

RankVendor2018 Cloud Apps Revenues, $M2019 Cloud Apps Revenues, $MYoY Growth2019 Cloud Apps Market Share, %Recent Developments
1Microsoft Subscribe Subscribe27% SubscribeMicrosoft’s Office 365 Commercial business saw an estimated 29% growth in CY19 to reach $8.1 billion. Dynamics 365 jumped 43% to hit $2.8 billion, while the commercial portion of LinkedIn rose 11% to achieve about $3 billion in the same period.
2Salesforce Subscribe Subscribe37% SubscribeSalesforce co-CEO Keith Block stepped down in February 2019 leaving founder Marc Benioff as the sole head of the CRM giant. It ended fiscal 2020 with 29% jump in revenues to $17 billion and the $1.3 billion acquisition of Vlocity, one of its long-time channel partners.
3SAP Subscribe Subscribe39% SubscribeSAP’s largest Cloud segment, covering applications, technology and services, grew 38% in 2019, while the Intelligent Spend group, which includes Ariba and Concur, rose 24%. Qualtrics posted more than $400 million in Cloud applications revenues last year.
4Oracle Subscribe Subscribe32% SubscribeWith tens of thousands of Cloud customers already running CRM, EPM, ERP, HCM and industry-specific applications, Oracle focuses on building out its online infrastructure to better serve them while converting hundreds of its onpremise customers to Oracle Cloud every quarter. It is also making an concerted effort to take marquee customers live on Oracle Cloud apps.
5Adobe Subscribe Subscribe24% SubscribeAdobe acquired Marketo for marketing automation and Magento for eCommerce as it pivots from content to CRM. In its latest quarter, Adobe’s Digital Experience revenues including mostly CRM products grew 24%.
6ServiceNow Subscribe Subscribe34% SubscribeIn 2020, ServiceNow acquired Passage AI for digital assistants in multiple languages and Loom Systems for AI-based IT Service and Operations Management, following a 34% jump in Cloud subscription revenues in 2019.
7Workday Subscribe Subscribe32% SubscribeWorkday now counts on HCM, Financial Management, Planning and Analytics for its Cloud applications growth, along with its recent acquisition of Scout RFP for e-sourcing. Its developer push will intensify in its latest release Workday 2020 as it strengthens Platform As A Service capabilities such as microservices and enhanced security as part of Workday Cloud Platform.
8Intuit Inc. Subscribe Subscribe38% SubscribeIntuit QuickBooks Online subscribers now top 5 million, up from 1.6 million in 2016. Meanwhile, Intuit strengthened working capital management and payment offerings for SMBs, along with same-day payroll processing. The advanced version of QBO offers Live Help capabilities with personalized expert advice on accounting issues.
9Dropbox Subscribe Subscribe19% SubscribeDropbox’s revenues rose 19% in 2019 as paying users topping 14.3 million, compared with 12.7 million in 2018. Average revenue per user per year went up 4.5% to reach $125 last year.
10athenahealth Subscribe Subscribe8% SubscribeAthenahealth’s sale to Veritas Capital and subsequent merger with Virence Health, a value-based care company purchased by Veritas from GE, was a complex deal that closed in 2019. The combined company is operating under the Athenahealth brand.
Subtotal Subscribe Subscribe31% Subscribe
Other Subscribe Subscribe3% Subscribe
Total Subscribe Subscribe14% Subscribe

Source: Apps Run The World, February 2020

Other Cloud software providers included in the report are: 2U, INC., ACI Worldwide, Inc., ADP, Amazon Web Services (AWS), Applied Systems Inc., Atlassian, Aurea, Autodesk, Avalara, Bazaarvoice Inc., Benefitfocus, Blackbaud, BlackLine, Bottomline Technologies, Box Inc., CDK Global, Ceridian, Cisco Systems, Cision, Citrix, Cornerstone OnDemand, Coupa Software, Cvent, DocuSign, Inc., Edgeverve, an Infosys company, Ellie Mae, Eventbrite, FICO, FIS Global, Five9, Google, HubSpot, IBM, iCIMS, Infor, Informatica, Instructure, Inc., Intralinks Holdings, Inc., a SS&C Technologies Company, ION Trading, IQVIA, JDA Software Group, Inc., Khoros, Kronos Incorporated, LexisNexis, a RELX Company, LivePerson Inc., LogMeIn, Inc., Medallia, Medidata, a Dassault Company, Meltwater Group, Mitel, NCR Corporation, Nice Systems, Open Text Corporation, Paychex, Paycom, Paylocity, PTC, Q2ebanking, Qualtrics, RealPage, RingCentral, Roper Technologies, Inc., Saba Software, Sage, SAS Institute, Shopify, Slack, SolarWinds, SPS Commerce, Inc., SugarCRM, SumTotal Systems, a Skillsoft Company, SurveyMonkey, Trimble, TTEC, Twilio, Tyler Technologies, Ultimate Software, Unify Software and Solutions GmbH & Co. KG., Upwork, Veeva Systems Inc., Verizon Connect, Visma, Vonage, WEX Health, Workiva, Xero, Zendesk, Zoho Corp., Zoom Video Communications, Zuora, and many others.

Custom data cuts related to the Cloud Applications market are available:

  • Top 200 Cloud Applications Vendors and Market Forecast 2019-2024
  • 2019 Cloud Applications Market By Industry (21 Verticals)
  • 2019 Cloud Applications Market By Functional Market (16 Markets)
  • 2019 Cloud Applications Market By Country (USA + 45 countries)
  • 2019 Cloud Applications Market By Region (Americas, EMEA, APAC)
  • 2019 Cloud Applications Market By Revenue Type (License, Services, Hardware, Support and Maintenance, Cloud)
  • 2019 Cloud Applications Market By Customer Size (revenue, employee count, asset)
  • 2019 Cloud Applications Market By Channel (Direct vs Direct)
  • 2019 Cloud Applications Market By Product

Exhibit 4 shows the enterprise applications market by functional area. The highest growth functional markets revolve around smaller segments like Analytics and BI, Collaboration, eCommerce, PPM and TRM, where first movers remain less established than those that for decades have been entrenched in functional areas like Content Management and CRM.

Cloud Based Enterprise Applications Market Forecast, By Function, $M
Cloud Based Enterprise Applications Market Forecast, By Function, $M

Cloud Win/Loss Analysis As Part Of Enterprise Applications Buyer Insight Customer Database

On the buyer side, customers are investing in Cloud systems based on new features and capabilities that are expected to replace their existing legacy systems. In many cases, competitive upgrades and replacements that could have a profound impact on future market-share changes will become more widespread.

Since 2010, our global team of researchers have been studying the patterns of the latest Cloud software purchases by customers around the world, aggregating massive amounts of data points that form the basis of our forecast assumptions and perhaps the rise and fall of certain vendors and their products on a quarterly basis.

Updated continuously, our database features extensive win/loss analysis. Each year our research team identifies tens of thousands of these customer wins and losses from public and proprietary sources.

The research results are being incorporated into regular updates in our Enterprise Applications Buyer Insight Customer Database. You can access the Quarterly Win/Loss Analysis Scoreboard and our Enterprise Applications Buyer Insight Customer Database by becoming a subscriber.

List of Cloud Software Customers

CustomerIndustryEmpl.RevenueCountryVendorNew Product
Aston MartinRetail1850$1.15BUnited KingdomMicrosoftMicrosoft Office 365
British Medical AssociationNon Profit600$106.0MUnited KingdomMicrosoftMicrosoft Office 365
ColesConsumer Packaged Goods100000$31.00BAustraliaMicrosoftMicrosoft Office 365
FujitsuManufacturing1400000$36.11BJapanMicrosoftMicrosoft Office 365
AccuWeatherMedia450$20.0MUnited StatesMicrosoftMicrosoft Dynamics 365 for Finance and Operations
National Oilwell Varco, Inc.Oil, Gas and Chemicals35063$8.45BUnited StatesMicrosoftMicrosoft Dynamics 365 for Finance and Operations
Ann SummersRetail1332$133.0MUnited KingdomMicrosoftMicrosoft Dynamics 365 for Finance and Operations
AssetlinkLeisure and Hospitality1000$100.0MAustraliaMicrosoftMicrosoft Dynamics 365 for Finance and Operations
Danish AgroDistribution4768$4.95BDenmarkMicrosoftMicrosoft Dynamics 365 for Finance and Operations
Cedar FairMedia2100$1.29BUnited StatesMicrosoftMicrosoft Dynamics 365 Customer Engagement
City of LethbridgeMedia1000$429.0MCanadaMicrosoftMicrosoft Dynamics 365 Customer Engagement
DS SmithManufacturing31355$7.97BUnited KingdomMicrosoftMicrosoft Dynamics 365 Customer Engagement
Regal BeloitManufacturing24600$3.65BUnited StatesMicrosoftMicrosoft Dynamics 365 Customer Engagement
Ashley Furniture IndustriesConsumer Packaged Goods23000$4.70BUnited StatesSalesforceSalesforce Commerce Cloud
BirkenstockDistribution3000$16.39BGermanySalesforceSalesforce Commerce Cloud
Carter’s, IncRetail21000$3.46BUnited StatesSalesforceSalesforce Commerce Cloud
Air LiquideOil, Gas and Chemicals66000$23.27BFranceSalesforceSalesforce Marketing Cloud
BBCProfessional Services21000$5.17BUnited KingdomSalesforceSalesforce Marketing Cloud
Ford Motor CompanyAutomotive201300$151.80BUnited StatesSalesforceSalesforce Marketing Cloud
H&R BlockRetail2400$3.10BUnited StatesSalesforceSalesforce Marketing Cloud
DatalogicManufacturing2700$682.0MUnited StatesSalesforceSalesforce Sales Cloud
Frontier CommunicationsCommunications28000$8.90BUnited StatesSalesforceSalesforce Sales Cloud
News CorporationMedia24000$8.29BUnited StatesSalesforceSalesforce Sales Cloud
ABeamConsumer Packaged Goods4961$660.0MJapanSAPSAP Analytics Cloud
Delaware InternationalProfessional Services1800$263.0MBelgiumSAPSAP Analytics Cloud
Graphic Packaging International, LLCManufacturing18000$6.02BUnited StatesSAPSAP Analytics Cloud
Aker SolutionsOil, Gas and Chemicals14705$2.81BNorwaySAPSAP Ariba
BMI GroupManufacturing9600$1.43BUnited KingdomSAPSAP Ariba
Boehringer IngelheimLife Sciences50000$19.54BGermanySAPSAP Ariba
Dana IncorporatedManufacturing37000$8.14BUnited StatesSAPSAP Ariba
Dollar Tree StoresRetail57200$22.82BUnited StatesSAPSAP Ariba
Office Depot Europe B.V.Professional Services6500$11.60BNetherlandsSAPSAP C/4 HANA
Thrush AircraftProfessional Services285$28.0MUnited StatesSAPSAP C/4 HANA
Total Wine & MoreRetail7000$3.00BUnited StatesSAPSAP C/4 HANA
Alexion PharmaceuticalsLife Sciences2656$4.13BUnited StatesSAPSAP S/4 HANA
CentricaUtilities60000$36.50BUnited KingdomSAPSAP S/4 HANA
HersheyConsumer Packaged Goods22000$7.40BUnited StatesSAPSAP S/4 HANA
Microsoft CorporationProfessional Services144000$125.84BUnited StatesSAPSAP S/4 HANA
Arriva GroupTransportation61845$5.93BUnited KingdomSAPSAP SuccessFactors Employee Central
Babcock International GroupAerospace and Defense36000$5.43BUnited KingdomSAPSAP SuccessFactors Employee Central
Bureau Veritas CertificationProfessional Services26300$1.40BSingaporeSAPSAP SuccessFactors Employee Central
First Quality Enterprises IncConsumer Packaged Goods5000$465.0MUnited StatesSAPSAP SuccessFactors Employee Central
HeinekenConsumer Packaged Goods85000$23.12BNetherlandsSAPSAP SuccessFactors Employee Central
Adventist HealthHealthcare35000$3.60BUnited StatesOracleOracle Analytics Cloud
ArcadisConstruction and Real Estate27000$3.40BNetherlandsOracleOracle Analytics Cloud
ARCADIA GROUP BRANDS LTDRetail45000$2.07BUnited KingdomOracleOracle Commerce Cloud
Leroy MerlinRetail100000$17.10BFranceOracleOracle Commerce Cloud
Bukhatir GroupConstruction and Real Estate5000$820.0MUnited Arab EmiratesOracleOracle EPM Cloud
Casey’s General StoresConsumer Packaged Goods16891$9.35BUnited StatesOracleOracle EPM Cloud
City of DetroitGovernment3715$2.10BUnited StatesOracleOracle ERP Cloud
Igloo Products Corp.Consumer Packaged Goods1200$350.0MUnited StatesOracleOracle ERP Cloud
AstraZeneca plcLife Sciences64400$22.09BUnited KingdomOracleOracle Fusion CRM
Academy Sports + OutdoorsRetail23000$4.90BUnited StatesOracleOracle HCM Cloud
ActivisionProfessional Services9400$6.60BUnited StatesOracleOracle HCM Cloud
Burns & McDonnellConstruction and Real Estate6000$2.59BUnited StatesOracleOracle HCM Cloud
Fanatics incRetail1800$220.0MUnited StatesOracleOracle Marketing Cloud
Mount SinaiHealthcare38000$2.40BUnited StatesOracleOracle Procurement Cloud
VantivBanking and Financial Services3526$3.58BUnited StatesOracleOracle Procurement Cloud
Yum! Brands, Inc.Retail34000$5.69BUnited StatesOracleOracle Recruiting Cloud
AtradiusBanking and Financial Services3300$1.70BNetherlandsOracleOracle Sales Cloud
Regus USAConstruction and Real Estate3000$1.00BUnited StatesOracleOracle CX Cloud
Tesco PLCRetail464505$82.35BUnited KingdomOracleOracle CX Cloud
Club MéditerranéeLeisure and Hospitality20333$1.55BFranceAdobeAdobe Analytics Cloud
TelefónicaCommunications120138$54.00BSpainAdobeAdobe Analytics Cloud
Princess CruisesLeisure and Hospitality12000$2.50BUnited StatesAdobeAdobe Experience Cloud
LafargeHolcim LtdManufacturing75000$27.63BSwitzerlandServiceNowServiceNow PPM
Brunswick CorporationManufacturing16038$5.16BUnited StatesServiceNowServiceNow ITSM
Tiffany & CoRetail14200$4.40BUnited StatesServiceNowServiceNow ITSM
AdidasConsumer Packaged Goods49563$24.52BGermanyServiceNowServiceNow IT Service Management
ExperianProfessional Services17200$4.86BUnited KingdomServiceNowServiceNow IT Service Management
Algonquin CollegeEducation4416$300.0MCanadaWorkdayWorkday Financial Management
AnaplanProfessional Services693$120.0MUnited StatesWorkdayWorkday Financial Management
Aon AffinityInsurance50000$10.77BUnited KingdomWorkdayWorkday Financial Management
A.H. Belo CorporationMedia1221$272.0MUnited StatesWorkdayWorkday HCM
BroadcomManufacturing15000$2.08BUnited StatesWorkdayWorkday HCM
Chanel S.A.Retail25295$11.12BFranceWorkdayWorkday HCM
Collabera PhilippinesProfessional Services6000$200.0MPhilippinesWorkdayWorkday HCM
Enbridge Inc.Oil, Gas and Chemicals8500$14.40BCanadaWorkdayWorkday HCM
Arbella InsuranceInsurance1000$800.0MUnited StatesWorkdayWorkday Procurement
Quicken LoansBanking and Financial Services15307$4.00BUnited StatesWorkdayWorkday Procurement
BDO CanadaBanking and Financial Services64300$6.37BCanadaWorkdayWorkday Adaptive Insights Business Planning Cloud
Boston ScientificLife Sciences32000$9.82BUnited StatesWorkdayWorkday Adaptive Insights Business Planning Cloud
Gentiva Health ServicesHealthcare15000$2.00BUnited StatesWorkdayWorkday Adaptive Insights Business Planning Cloud
University of SydneyEducation12000$2.00BAustraliaDropboxDropbox Business
Arizona State UniversityEducation3095$2.40BUnited StatesDropboxDropbox Business
Channel 4Media819$979.0MUnited KingdomDropboxDropbox Business
Davidson CollegeEducation800$200.0MUnited StatesDropboxDropbox Business
LagardereMedia1000$900.0MFranceDropboxDropbox Business
Ellenville Regional HospitalHealthcare225$41.0MUnited StatesathenahealthathenaOne
Lost Rivers Medical CenterHealthcare80$5.0MUnited StatesathenahealthathenaOne
Peachtree OrthopedicsHealthcare300$45.0MUnited StatesathenahealthathenaOne
Faith Community HospitalHealthcare150$10.0MUnited StatesathenahealthathenaCollector
CaduceusHealthHealthcare180$25.0MUnited StatesathenahealthathenaClinicals
Jasper General HospitalHealthcare40$6.0MUnited StatesathenahealthathenaClinicals
AdvantEdgeHealthcare750$1.00BUnited StatesIntuitIntuit QuickBooks Online
Apex ITProfessional Services150$30.0MUnited StatesIntuitIntuit QuickBooks Online
AppFolioProfessional Services626$105.0MUnited StatesIntuitIntuit QuickBooks Online
Becker CollegeEducation500$60.0MUnited StatesIntuitIntuit QuickBooks Online
H2scan CorporationDistribution150$30.0MUnited StatesIntuitIntuit QuickBooks Online

Source: Apps Run The World, January 2020

Further Readings

An expanded version of this report covers the top 500+ ERP Financial Management Software Vendors and ERP Services and Operations Management Software Vendors , offering in-depth analysis of the market dynamics, vendors’ Strengths, Customers, Opportunities, Risks and Ecosystems as well as their ability to gain Shares (SCORES) within their respective space.

We also offer win-loss analysis of the quarterly wins of these top vendors and whether incumbents and upstarts pose any real threat to their standing amid shifting market requirements and user preferences.

More Enterprise Applications Research Findings

Based on the latest annual survey of 3,000+ enterprise software vendors, Apps Run The World is releasing a number of dedicated reports, which profile the world’s 500 largest Enterprise Applications Vendors (Apps Top 500) and the world’s 500 largest Cloud Applications Vendors (Cloud Top 500) ranked by their 2015-2019 product revenues.

Their 2019xer results are being broken down, sorted and ranked across 16 functional areas(from Analytics to Treasury and Risk Management) and by 21 vertical industries(from Aerospace to Utility), as shown in our Taxonomy. Further breakdowns by subvertical, country, company size, etc. are available as custom data cuts per special request.

Research Methodology

Each year our global team of researchers conduct an annual survey of thousands of enterprise software vendors by contacting them directly on their latest quarterly and annual revenues by country, functional area, and vertical market.

We supplement their written responses with our own primary research to determine quarterly and yearly growth rates, In addition to customer wins to ascertain whether these are net new purchases or expansions of existing implementations.

Another dimension of our proactive research process is through continuous improvement of our customer database, which stores more than one million records on the enterprise software landscape of over 100,000 organizations around the world.

The database provides customer insight and contextual information on what types of enterprise software systems and other relevant technologies are they running and their propensity to invest further with their current or new suppliers as part of their overall IT transformation projects to stay competitive, fend off threats from disruptive forces, or comply with internal mandates to improve overall enterprise efficiency.

The result is a combination of supply-side data and demand-generation customer insight that allows our clients to better position themselves in anticipation of the next wave that will reshape the enterprise software marketplace for years to come.

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