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In fact, Tackle predicts $15 billion in throughput by the end of 2023, and $50 billion by the end of 2025, based on findings in our 2022 State of Cloud Marketplaces Report. . I involved legal, finance, deal desk, order management, and others to ensure we were all aligned and everyone’s questions were answered.”.
Marketplaces are meeting the challenge Marketplaces have continued to grow significantly, with Tackle’s 2021 State of Cloud Marketplaces Report predicting that Cloud Marketplaces will exceed $50 billion by 2025. In the past, security and legal teams might join the process toward the end, but that’s no longer adequate.
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In fact, Tackle predicts $15 billion in throughput by the end of 2023, and $50 billion by the end of 2025, based on findings in our 2022 State of Cloud Marketplaces Report. . I involved legal, finance, deal desk, order management, and others to ensure we were all aligned and everyone’s questions were answered.”.
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Cloud Marketplaces will exceed $10B in throughput by the end of 2023, and $50B by the end of 2025. The acceleration of time to value (43%) and faster access to tools (41%)—Time spent on processes that would otherwise be undertaken outside of a Marketplace transaction, such as a procurement process or legal discussions, is mitigated.
By 2025, nearly 80% of sales interactions will take place through digital channels, according to a recent study published by Gartner. For 2021 alone, ISVs will generate over $3 billion in revenue through the Cloud Marketplaces, based on Bessemer predictions. Bessemer expects that to grow by a multiple of 10 in the coming years.
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In reality, companies with committed cloud spends are incentivized to buy this way—some are even requiring it as it also simplifies procurement, legal, finance, etc in otherwise largely complicated processes. Canalys predicts that nearly a third of all Marketplace purchases will flow through partners by 2025.
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