Atlas VPN research team discovered that there had been a significant increase in new enterprise software firms in the last year, with cybersecurity and storage products accounting for 47% of the newly added firms.
There had been 16 newly launched billion-dollar enterprise software companies in Europe during the last year. The monetary value of these companies reaches 25 billion dollars combined.
30% of the 25 billion dollars are brought in by the storage software industry, while 17% by cybersecurity software companies.
Rachel Welsh, the COO of Atlas VPN, explains why storage and cybersecurity solutions are dominating the enterprise software industry:
“As businesses increasingly shift to operating online rather than offline, the basic needs for running online are growing: companies need solutions to store large amounts of data and ensure that the stored data is properly secured. Hence, businesses tend to invest in storage and cybersecurity solutions rather than in communication or finance tools.”
In 2020, fintech and enterprise software sectors experienced the largest growth rates: the number of enterprise software companies increased by 57%, while the fintech sector has grown by 64%.