Oracle CEO Mark Hurd says that consolidation is coming as 'underfunded' cloud software companies get bought up: 'Many of the companies will go away'

Oracle is now considered a major player in software-as-a-service, although it is still lagging Microsoft and Salesforce in the SaaS and cloud software market. That market totaled $107.5 billion in 2017, according to analyst firm IDC. In that same year, Microsoft led the SaaS pack with 9.3% market share, followed by Salesforce with 8.7% and Oracle with 4.1%. SAP was in fourth with 3.6%, followed by Google with 3.5%.

"Smaller SaaS companies are underfunded and will have trouble competing with the big players in this market. If they have unique technology they could become M&A targets. It is expensive to market and serve the SaaS markets and being under-capitalized will hurt their chances to compete for the same businesses big SaaS companies go after today."

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Intel stock plummets on disappointing earnings outlook as new CEO takes ‘a more cautious view’Intel Corp. shares dropped in the extended session Thursday after the chip giant’s outlook fell way below Wall Street estimates offsetting an earnings beat. Still smile . No worry next time
Source: MarketWatch - 🏆 3. / 97 Read more »