Top 5 enterprise technologies of the decade
Manufacturing IoT, video conferencing, and cloud computing are just some of the biggest advancements of the decade. Tom Merritt lists the five top enterprise technologies of the 2010s.
Choosing a vendor to provide IT services for your company can be a challenging task. You may want to consider an older, established, legacy vendor that’s proved itself over the long haul. Or you may opt for a startup vendor that can offer newer and more innovative ideas and approaches.
Selecting a startup vendor can carry some risks but choosing one that’s survived and thrived to generate hefty revenue offers certain benefits, according to Synergy Research Group.
SEE: Launching and building a startup: A founder’s guide (free PDF) (TechRepublic)
In a review of enterprise IT markets over the last 10 years, Synergy Research Group found 12 startup vendors with annual revenue of $1 billion or more based on the latest 2019 quarterly results. Further, the vendors identified either started up over the past decade or had minimal revenue just 10 years ago.
Leading the group are Workday, ServiceNow, and Palo Alto Networks, all with a combined revenue of more than $10 billion compared with less than $100 million in 2009.
Next, Arista Networks passed the $2 billion mark in revenue for the latest quarter. The eight other companies on the list—Pure Storage, Dropbox, Shopify, Atlassian, Nutanix, Twilio, Veeva, and DocuSign—have each generated $1 billion or more for the last quarter. In total, all 12 vendors now have a revenue run rate of over $23 billion compared with just $200 million in 2009.
Beyond these top 12 vendors, other startups have done well over the past decade, according to Synergy. Tableau Software would have made the list had it not been acquired by Salesforce in a deal valued at almost $16 billion.
Two vendors that might have come close if they hadn’t been acquired are Nimble Storage and Ruckus Wireless. Two other vendors who started up later in the decade but have been generating healthy revenue are Zoom and Slack. Further, three vendors who are coming close to the billion-dollar revenue mark are RingCentral, Zendesk and Box.
Why have the 12 identified startups seen such a dramatic increase in revenue?
“They have used innovative new technology to successfully target specific applications and use cases that have a broad enterprise appeal,” said John Dinsdale, chief analyst research director for Synergy Research Group. “In some cases these needs were not being adequately met by existing products and solutions; in other cases the new technology stimulated new demand.”
Another factor that distinguishes the 12 startups is their ability to survive and thrive.
“The vast majority of startups fail,” Dinsdale said. “Either they fail to get off the ground or the level of business achieved is far below what was expected. Very few achieve critical mass and gain substantial market share in key segments. That is what sets these 12 apart.”
The success of these startups can prove useful to IT professionals, business owners, and even investors searching for the right vendors. Dinsdale described the specific benefits of using such startups:
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Article source: https://www.techrepublic.com/article/how-your-organization-could-benefit-from-using-a-top-tech-startup/#ftag=RSS56d97e7