Published: 15 January 2024
The enterprise business applications markets will grow to $209 billion in 2024 (13.7% YoY growth in constant currency) and reach $325 billion in 2027, with a CAGR of 14.3% at constant currency from 2022 to 2027. Technology general managers should focus on customer outcomes and balance growth and profitability.
The transition of software markets to the cloud continues to accelerate as customers look to modernize their application portfolios and vendors pressure customers to facilitate the transition.
Vendors that articulate and demonstrate tangible business outcomes for their clients will outgrow those that continue to focus solely on product features and technology.
Generative AI (GenAI) has become the main talking point for enterprise application vendors as they accelerate its deployment and create recognizable revenue.
Customers want to leverage digital platforms and marketplaces to accelerate their digital ambitions and more effectively participate in their ecosystems. Enabling this composable future will require changes to
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