New Research on the Salesforce Economy Predicts Creation of 3.3 Million Jobs by 2020
Research from IDC details how Salesforce and its ecosystem of customers and partners will drive nearly 3.3 million new jobs and more than US$859 billion in new GDP impact worldwide by 2022.
Once considered a threat to jobs and partner profitability, the cloud is now broadly recognised as a global economic engine underpinning new innovations, business models and industries. According to the IDC study, cloud computing generates jobs by permitting an increase in IT innovation, which in turn supports business innovation and increased revenues in local markets. Even more positive for long-term economic impact, IDC reports that spending in public cloud accounts is expected to grow at six times the rate of overall IT spending from 2015 through 2020.
“The cloud represents an enormous opportunity for customers and partners to transform every industry, create jobs and accelerate economies around the world,” says Tyler Prince, EVP Alliances and Go-to-Market Innovation, Salesforce. “Our continued focus is empowering our partners with the right resources to thrive in the Salesforce Economy and help our customers grow and succeed.”
Other Key Findings in the IDC Study
In addition to the direct jobs and GDP contribution created by Salesforce and its ecosystem of partners and customers, IDC also uncovered several other key findings in the report:
- The data underscores strong momentum from the community of Salesforce customers, partners and developers who power the Salesforce Economy worldwide.
- The leverage from cloud computing comes from the fact that so much of traditional IT is tied up with maintenance of legacy systems and routine upgrades – in fact, this represented 71% of IT spending.
- 89% of Fortune 100 companies have now installed at least one Salesforce AppExchange app, and 65% of all customers have multiple apps installed.
- By 2022, Salesforce will drive nearly 5 million indirect jobs, which are created by spending in the general economy by the people filling the 3.3 million direct jobs.
- With a gain of just under $164 billion in new revenues and 584,995 new jobs will be created by 2022, the financial services industry is expected to be the vertical most impacted by the Salesforce Economy.
Download a full copy of the IDC “Salesforce Economy” study here.