The cloud is growing exponentially and SaaS provider revenue in 2014 is set to surpass $18 billion, making the cloud application market larger than previous major shifts in technology at key points in their development including e-commerce revenue in 1998 ($8 billion) and personal computer revenue in 1982 ($11 billion). It’s easier today for entrepreneurs to create new software applications in the cloud, offering companies and individuals more choice than ever before. There are many third-party lists of cloud applications to help you make an informed purchase decision and most of them are derived from company reputation, customer interviews, and company revenue.
The top 10 list
Until now, there has not been a central broker of cloud services with visibility into actual usage trends across over 7,000 cloud services. Skyhigh used anonymized usage data from over 200 companies and over 10 million users to calculate the growth rates of cloud services from Q1 to Q2 of this year. What’s unique about the top 10 list is that it’s based on the number of active users across 7,000 cloud services, revealing what cloud applications are growing the fastest in the enterprise today. The fastest growing apps are solving problems in unique ways that deliver tremendous value to their users, resulting in high quarterly growth rates.
With no hardware to build, software to install, or databases to manage, it’s no surprise that cloud app usage is growing so fast. With these barriers to adoption removed, companies can quickly deploy the best applications that meet their needs. The decision-making process for adopting new applications has become much more democratic as well, with lines of business and even individual users empowered to procure software independently. Since cloud providers rely on monthly and yearly subscription revenue, they have strong incentives to provide a high quality product, which means cloud has the potential to offer far superior applications.
The wisdom of crowds
Based on growth rates that far exceed the industry average, these cloud apps could be well-positioned to rival established incumbents within a few years in the collaboration, business intelligence, sales productivity, file sharing, customer success, HR, project management, and finance categories. Companies with technology projects in these categories should include up-and-coming vendors in the evaluation process. For more details on each company and what they do, check out the slideshare below:
It’s worth noting that cloud companies do not have to make a tradeoff between delivering functionality that delights end users and providing security for users’ data. The fastest growing app on the list, ProofHQ, also earned the CloudTrust Rating of Skyhigh Enterprise-Ready™, meaning that it has been independently found to fully satisfy the most stringent requirements for data protection, identity verification, service security, business practices, and legal protection.
For more information on the top cloud services and adoption trends, download the Skyhigh Cloud Adoption and Risk Report below.