We would like to share this with you:
- HubSpot has truly become a major CRM platform in the digital technology industry, with over 100,000 customers worldwide, over $1 billion in ARR, and a projected $6.4 billion in revenue for our ecosystem partners in 2021.
- The elements surrounding HubSpot's ecosystem are a one-size-fits-all model for almost any platform the company builds on.
HubSpot Ecosystem: Nearly $19 Billion in New Opportunities Ahead
Last week, IDC published a paper on the size of HubSpot’s ecosystem of platform products and services. As seen in the chart above, they estimate that companies in the HubSpot ecosystem will generate $6.4 billion in revenue this year – and nearly double that revenue to $12.5 billion by 2024.
“Nearly $19 billion” is all the ecosystem revenue IDC predicts for 2021-2024, up from $4.8 billion in ecosystem revenue in 2020.
The distribution of that revenue is:
- 57% for IT and service
- 34% for software support
- 7% for commissions (paid by HubSpot to partners)
- 2% for infrastructure
That's $2.1 billion worth of software support that will be purchased from our ecosystem in 2021. By 2024, that number will be $4.2 billion.
This is great news for HubSpot customers, as many of the applications they use throughout their business integrate directly with HubSpot CRM – connecting their entire business together for greater digital efficiency and better experiences.
But the chart in IDC's research will get everyone excited:
For every $1 in revenue HubSpot makes this year, software and services businesses on HubSpot's platform will make $5.60 in revenue. By 2024, that ratio will be $6.16 generated in revenue for every $1 of HubSpot's revenue.
Learn more at the article link: https://chiefmartec.com/2021/03/hubspot-platform-ecosystem-size/
