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These Are the Fastest-Growing Business Apps

(Bloomberg) -- Snowflake Inc.’s database software has emerged in an annual report as the fastest-growing cloud-based software program, signaling strong corporate demand for modern tools to help analyze data.

Snowflake’s use among clients more than tripled in 2019, software maker Okta Inc. said Tuesday in its annual Businesses @ Work report, which tracks the popularity of corporate software. Atlassian Corp.’s Opsgenie tool took the No. 2 spot as fastest-growing, with a gain of 194%. Alphabet Inc.’s Google Cloud came in third place and Splunk Inc. in fourth.

The cloud applications market generated $121 billion of revenue in 2018, according to research firm IDC. The infrastructure market, where Google Cloud competes, produced $36 billion in annual revenue, the firm said.

Snowflake makes cloud-based data warehouses, a type of database that compiles information from various sources so it can be analyzed. The company competes against Amazon.com Inc.’s cloud division and database stalwarts such as Oracle Corp. The San Mateo, California-based startup is considering going public, although the chief executive officer has said the the earliest the company could be ready for such a move would be this summer.

Opsgenie makes incident management software that notifies workers about critical issues to reduce or avoid service downtime. Todd McKinnon, the chief executive officer of Okta, said the types of software on the list represent a departure from the traditional business applications that topped the survey in previous years, such as office communications platform Slack Technologies Inc. and videoconferencing company Zoom Video Communications Inc.

“This was the first year where the fastest-growing things were infrastructure tools or security tools,” McKinnon said in an interview. “It’s a natural coming of age. We’ve put a bunch of apps in place. Now you have to make sure they’re secure, that users aren’t being phished, that you’re using the data in those apps for insights.”

The most popular corporate apps overall, by unique monthly active users, are Microsoft Corp.’s Office 365, Workday Inc. and ServiceNow Inc. Google’s G Suite and Salesforce.com Inc. round out the top five.

Increasingly, corporate developer teams are buying work tools independent of their IT organizations. The most popular developer software is the Atlassian Product Suite, Okta said. It was followed by Microsoft Corp.’s GitHub, PagerDuty Inc., New Relic Inc., and the newly public Datadog Inc.

Okta crunches these numbers based on data from its 7,500 customers, which use the software to securely log into various tech systems. The report presents and analyzes data from Nov. 1, 2018, to Oct. 31, 2019.

(Updates with additional details in eighth paragraph. An earlier version of this story corrected the full name of Snowflake Inc. in the first paragraph.)

To contact the reporter on this story: Nico Grant in San Francisco at ngrant20@bloomberg.net

To contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew Pollack, Molly Schuetz

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©2020 Bloomberg L.P.

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