Eighteen years ago, when Salesforce first launched, cloud computing was a new technology that most British businesses had never heard of. Fast forward to 2017 and it’s accounting for over US $97 billion of global spending and adding millions to our economy: cloud technology is now a global economic engine, underpinning innovation and new business models.
Today, IDC released its 2017 study on the “Salesforce Economy,” which explores the impact of cloud computing on innovation and investment. It focuses, in particular, on the economic contribution of Salesforce and our ecosystem of partners and customers.
IDC estimates that Salesforce and its ecosystem of customers and partners will drive 3.3 million new jobs and more than $859 billion in new business revenues worldwide by 2022 – that’s nearly $140 billion a year. This revenue has a direct impact on local economies, contributing new business revenues and creating jobs.
The study shows that here in the UK, the economy is benefitting too. The Salesforce Economy is predicted to generate more than $65 billion of net new business revenues by 2022. It’s also expected to create 329,160 direct and indirect jobs in the same timeframe. Anyone who touches the Salesforce ecosystem in any way should be massively proud of this achievement.
Around the world, we’ll feel these benefits most keenly in the financial services sector: it’s set to gain a staggering $163.7 billion of new revenues and 584,995 new jobs by 2022. The manufacturing industry isn’t far behind with an anticipated $159 billion in revenues, followed by the retail and communications and media industries.
For those of us that use the cloud on a daily basis, it’s easy to take its transformative power for granted. Cloud technologies enable an increase in IT innovation, which in turn supports business innovation, leading to greater agility, a shorter time to market for new products and lower costs.
Businesses are in the midst of a major transformation, and the cloud is now a key factor in its success. Just as digital transformation is about more than just IT, the impact of cloud technologies runs much deeper than technology, delivering benefits to customers, employees and the wider economy. The cloud represents an enormous opportunity for customers and partners alike to transform every industry, create jobs and accelerate economies around the world. The IDC study brings this into sharp focus.
At Salesforce, we’ve built an ecosystem that breeds innovation and economic development. We’re helping trailblazers to reinvent themselves for the digital economy, using our flexible cloud-based platform as a springboard for success. As a result, our ecosystem today is nearly four times bigger than Salesforce itself and by 2022 it will be more than five times bigger. The economic benefit of this is something that all of us in Britain should be able to enjoy.
You can view the full IDC White Paper, including country and industry specific data here. Be sure to also check out the infographic below to see the impact of the Salesforce ecosystem. Visit Trailhead to learn more about the Salesforce Partner Program.
Source: IDC White Paper sponsored by Salesforce, “The Salesforce Economy Forecast: 3.3 Million New Jobs, $859 Billion New Business Revenues to Be Created from 2016 to 2022,” October 2017.