How Enterprise Software Became a Billion Dollar Industry

People use software for all sorts of things, but enterprises tend to rely on software that is of a higher caliber. This suite of software applications are collectively referred to as enterprise software, and the industry surrounding this software is now worth several billions of dollars because of the fact that this is the sort of thing that could potentially end up allowing corporations to run more efficiently. A new study from Statista has revealed where this money comes from, and how enterprise software reached such dizzying heights.

With all of that having been said and now out of the way, it is important to note that the biggest individual share of enterprise software revenue comes from programs that help brands manage their relationships with customers. This type of software brings in just under $71 billion every year, but in spite of the fact that this is the case it is not the only enterprise software that corporations are currently spending money on with all things having been considered and taken into account.

A further $46 billion goes towards resource planning and management, which enterprises need to optimize if they want to continue functioning in a way that customers would appreciate. However, resource planning software is not the second biggest revenue source for the enterprise software industry. That honor belongs to the so called “Others” category, which includes things like data analysis, content applications and the like. Around $65 billion are spent on this category on an annual basis, but resourced planning is still the second biggest individual revenue source in the industry.

The last three revenue streams for enterprise software consist of business intelligence, content management and supply chain management. Business intelligence stimulates a hefty $24 billion in revenue each year, whereas companies spend almost $20 billion, or $19.4 billion to be precise, on content management. Supply chain management is not far behind with around $18 billion being spent on it annually which shows just how diverse enterprise software is. The strength of the industry is boosted by the versatility of the programs that it offers to corporations, and that will continue to grow.

H/T: Statista.
Read next: The How-To Guide On Identifying And Dispelling Online Disinformation
Previous Post Next Post