Tackle’s 2021 State of Cloud Marketplaces highlights recent trends and benchmarks related to cloud buying and selling habits
BOISE, Idaho — Oct. 5, 2021 — Tackle.io, a software company dedicated to helping software providers generate revenue through the Cloud Marketplaces, recently released its annual report, the 2021 State of Cloud Marketplaces, showcasing recent trends and benchmarks related to cloud buying and selling habits. Tackle surveyed senior leaders representing Cloud Marketplace sellers and buyers across multiple industries, roles, and stages.
Ecommerce has accelerated in every form as every business has been thrust into thinking remote and digital-first. Consumer buying behaviors have changed forever and B2C buyers have moved from ecommerce for convenience to ecommerce by default. Now, B2B buyers expect consumer-grade experiences for their business purchases. Gartner’s Future of the B2B Buying Journey Report shared that 77% of B2B buyers state that their latest purchase was very complex or difficult. B2B buyers want the same sense of value, availability, and convenience as consumers have in the B2C world, making it crucial for companies to adapt.
One of the core learnings from Tackle’s report is that as buyers increase their committed spend with the top Cloud Providers (which is expected to grow by an overall 20-25% in the next year), they look to maximize the value of that spend. Cloud Marketplaces enable buyers to centralize software spend under their cloud budget—a top goal for 43% of buyers. Sellers share that goal to meet buyers where their wallets already are and 82% say leveraging their buyers’ committed cloud spend is their primary driver for selling this way. This enacts a Cloud Marketplace Budget Flywheel as more supply is racing to Marketplace to meet the demands of buyers.
“Cloud Marketplaces are going mainstream, and it’s no longer a question of ‘if’ it will become the leading channel for procurement – it’s a question of ‘when’,” said John Jahnke, CEO of Tackle. “Traditional channels are struggling to meet buyer preferences, and Cloud Marketplaces offer a new and better way for software sellers to go to market. I expect to see the Cloud Marketplaces become one of the fastest-growing cloud services over the next 5 years.”
The convenience of Cloud Marketplaces allows both buyers and sellers to win. Tackle’s report found that 61% of buyers purchased software through one of the Cloud Marketplaces in the last year – a 39% increase from 2020. The study also highlighted that buyers prefer Marketplaces because it accelerates time to value, simplifies procurement, and offers faster access to software. According to the report, 68% of buyers say that Cloud Marketplaces are the most convenient purchasing option for their needs, and 83% say they will continue to make future software purchases this way.
“Ultimately, buyers migrating to the cloud and increasing cloud budgets has created one of the largest opportunities for software sellers,” Jahnke said. “The cloud has changed how all companies build and deploy products, and now we see it shaping the way companies buy and sell software. Cloud Marketplaces are at the heart of this story and we’re not seeing any signs of Cloud Marketplace adoption slowing down anytime soon.”
Additional highlights from Tackle’s 2021 State of Cloud Marketplace:
- 43% of buyers say leveraging their committed cloud spend is the top reason they choose to purchase through Cloud Marketplaces, compared to 20% last year.
- 58% of respondents in non-technical roles (sales, finance, operations) said they had purchased through Cloud Marketplaces this year, compared to 38% last year, and ALL said they would do so again.
- 67% of software sellers said they plan to invest more in Cloud Marketplaces in the coming year.
To learn more about Cloud Marketplace trends and predictions or to view the full report, visit tackle.io/resources/reports/state-of-cloud-marketplaces.
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About Tackle.io
Tackle is a software company dedicated to helping software providers accelerate revenue through Cloud Marketplaces. Tackle’s Cloud Marketplace Platform drastically reduces time to list and sell products on the Marketplaces while providing granular transaction reporting, all with zero engineering resources required. Tackle works with 300+ cloud leaders today, including A Cloud Guru, AppDynamics, Auth0, Fivetran, HashiCorp, Looker, McAfee, NewRelic, PagerDuty, Snowflake, and Talend. Tackle is available for purchase on the AWS Marketplace, Azure Marketplace, and Google Cloud Platform Marketplace.
