New Industry White Paper Shows the HubSpot Ecosystem is Uniquely Positioned to Help Scaling Companies Adapt to Digital-First World

Rhea-AI Summary

HubSpot announced a new IDC White Paper, "The HubSpot Ecosystem: Nearly $19 Billion in New Opportunity Ahead," highlighting its partners' role in supporting companies transitioning to a digital-first landscape. The report forecasts HubSpot's partner ecosystem revenue to grow from $4.8 billion in 2020 to $12.5 billion by 2024, totaling an additional $18.8 billion in four years. The paper emphasizes HubSpot's ability to streamline operations through effective integrations and advanced service offerings, positioning it favorably for future growth.

Positive

• Projected partner ecosystem revenue growth from $4.8 billion in 2020 to $12.5 billion in 2024.
• Total additional revenue opportunity of $18.8 billion over four years.
• Strong demand for advanced implementations and integrations with HubSpot's platform.

Negative

• None.

CAMBRIDGE, Mass., March 12, 2021 /PRNewswire/ -- HubSpot, the customer relationship management (CRM) platform for scaling companies, announced today the publication of a new IDC White Paper, sponsored by HubSpot, The HubSpot Ecosystem: Nearly $19 Billion in New Opportunity Ahead, that shows that HubSpot's partners are uniquely positioned to provide the software and services needed for scaling companies to adapt to doing business in an increasingly digital-first world. The white paper quantifies the revenue generated by the thousands of app and solutions partners that provide the products and services that accompany HubSpot's CRM platform software. The global HubSpot partner ecosystem is projected by IDC to grow from $4.8 billion in revenue in 2020 to $12.5 billion in 2024, representing an additional $18.8 billion in revenue above and beyond the 2020 level over the next four years.¹

According to IDC, the majority of consumers will continue to expect a digital-first experience even after the pandemic has ended. Companies met with this challenge often resort to cobbling together "best of breed" solutions to build a custom tech stack. IDC predicts that the cloud computing industry will grow 22% per year between 2020 and 2024, which means there is an ever-growing sea of software options these companies need to wade through to find the ones that will work best for them. Unfortunately, this "cobbled" approach is often ineffective and adds painful friction for both the company and its customers due to a lack of visibility across those disparate systems. With the average HubSpot customer expecting to add more than five types of additional marketing software, such as account-based marketing and video production, in the next year, that can add up to a lot of wasted time and headaches. According to the IDC White Paper, HubSpot is uniquely positioned to solve those challenges with its powerful and easy-to-use CRM platform and accompanying ecosystem of thousands of app and solutions partners.

"We crafted our CRM platform with extensibility in mind, which means that our customers can easily integrate their HubSpot instance with other services and solutions that are tailored to their specific needs, as they need them," said Yamini Rangan, chief customer officer at HubSpot. "As our ecosystem grows, so too will the number of options that are available to customers to help them gain the greatest possible value from our platform. We're excited about the opportunity this presents for both our trusted partners and our customers."

According to the IDC White Paper, the needs of HubSpot customers will continue to grow and evolve as they scale and adapt to a digital-first mindset. This represents three key areas of opportunity for HubSpot app and solutions partners over the next four years:

• More advanced full-suite implementations and migrations
• More integrations across the entire customer journey
• More complex and broad services including strategy, migration, and operating services

"The strength of our ecosystem can be mapped back to the power and usability of our CRM platform," said Scott Brinker, VP of platform ecosystem at HubSpot. "Having a strong software foundation has allowed us to foster a vibrant community of solutions partners who do far more than implementation, and a network of developers who see the potential to build seamlessly integrated applications. This is a great time for our existing partners to think about new ways that they can support digital transformation, and for new partners to join our ecosystem to offer even more solutions and support to help our customers grow better."

Download a full copy of the IDC White Paper, Sponsored by HubSpot, "The HubSpot Ecosystem: Nearly $19 Billion In New Opportunity Ahead, doc #US47417821, (March 2021)" here.

IDC Methodology
For nearly two decades, IDC has been sizing the ecosystems for software vendors utilizing IDC market studies, forecasts, and surveys that illuminate the links between software and the services and products that must accompany software for implementations to be complete. At times but not in this case, we have looked at internal costs as well.

About HubSpot
HubSpot (NYSE: HUBS) is a leading customer relationship management (CRM) platform that provides software and support to help companies grow better. The platform includes marketing, sales, service, and website management products that start free and scale to meet our customers' needs at any stage of growth. Today, more than 100,000 customers across more than 120 countries use HubSpot's powerful and easy-to-use tools and integrations to attract, engage, and delight customers.

Named Glassdoor's #4 Best Place to Work in 2021, HubSpot has been recognized for its award-winning culture by Great Place to Work, Comparably, Fortune, Entrepreneur, Inc., and more. HubSpot was founded in 2006 and is headquartered in Cambridge, Massachusetts. The company's thousands of employees work across the globe in HubSpot offices and remotely.

Learn more at www.hubspot.com.

¹ This is the difference from each year's revenue above 2020 revenue and then summed.

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SOURCE HubSpot

FAQ

What is the projected revenue growth for HubSpot's partner ecosystem by 2024?

The partner ecosystem revenue is projected to grow from $4.8 billion in 2020 to $12.5 billion by 2024.

How much new revenue opportunity does the IDC White Paper estimate for HubSpot's ecosystem?

The IDC White Paper estimates an additional $18.8 billion revenue opportunity for HubSpot's ecosystem over the next four years.

What are the key areas of opportunity for HubSpot's app and solutions partners?

Key opportunities include advanced full-suite implementations, increased integrations, and more complex services.

What is the significance of the IDC White Paper for HubSpot and its partners?

The paper highlights HubSpot's unique position to assist scaling companies in adapting to a digital-first approach, showcasing growth potential for partners.