Salesforce AppExchange Sees Record Growth Despite Ongoing Pandemic
CodeScience has released its 5th Annual State of the AppExchange Partners Report, an annual survey and analysis providing the only independent look at the Salesforce AppExchange and insights for ISVs who are building their businesses there.
The launch of this year’s report comes in the midst of much uncertainty around the ongoing pandemic, yet the Salesforce ecosystem has never been stronger. Accordingly, the theme for this year’s report is A Rising Tide Lifts All Boats. Our research and interviews show that the rising tide of Salesforce’s success is raising up the entire AppExchange ecosystem – from technology, to customer base, to investment.
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A few key findings from the report:
- By Q3 of 2021, over 500 new products were listed on the AppExchange, putting 2021 on track to be a record year for new listings.
- Funding for AppExchange companies has significantly increased. As of October 2021, venture funding to AppExchange companies reached over $10 billion, double the $5.3 billion invested in 2020.
- Revenue projections for Salesforce partners remain bullish with almost half of respondents predicting significant increases. Almost a quarter (22%) anticipate ending 2021 with revenues in excess of $100 million.
- Participation in the Salesforce ISV program resulted in increased revenue for 65% of respondents, up from 53% in 2020.
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The report covers the topics that matter most for Salesforce partners, broken down into six sections: Product & Company, Growth, Technology & Platform, Salesforce as a Channel, Diversity & Inclusion, and Investments (written by Crunchbase). New to the report this year is a special supplement, “Navigating the Channel,” featuring key learnings from alliances leaders to help ISVs build success in their Salesforce partnership.
CodeScience has designed, built, and supported some of the most complex products on the Salesforce AppExchange for the biggest names in the ecosystem. Top ISVs partner with us to drive commercial success on the AppExchange. Headquartered in Chattanooga, TN and supported by a remote, US-based staff, we support partners through the full Salesforce product lifecycle.
