target audience: TECH SUPPLIER Publication date: Feb 2024 - Document type: Market Presentation - Doc Document number: # US51814624
CloudShare 2023 Global Emerging ISV Research: Executive Summary
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Abstract
This IDC Market Presentation features the accelerating ISV journey to the next generation of SaaS applications, propelled by advancements in AI, insatiable buyer demand for innovative features, and continuing double-digit growth in cloud spending. This next generation of intelligent applications leverages embedded machine learning (ML) models that use vast amounts of data to render contextually relevant insights and recommendations. The applications use ML to learn and improve continually. The transition to a new generation of SaaS applications is underway for many ISVs, with 50.5% investing significantly in generative AI. For others, the lack of skills, experience, cost, and business disruption impedes change. Cloud service providers are essential partners on the ISV journey, providing cloud infrastructure and platform services, SaaS enablement and accelerators, global reach, and new routes to market, including cloud marketplaces.