The United States is still largely unrivaled with 63% of companies globally and nearly 89% of the startup funding in the cloud and software sectors. However, as the US market is becoming more saturated US vendors are increasingly looking to expand into Europe and Asia.
Europe, a distant second, is showing increased velocity with a great number of emerging companies focused on the space. In 2017 it was home to 22% of the world’s cloud companies, but only 5% of funding.
Silicon Valley – home to 16% of the world’s cloud and software companies – remains the ultimate powerhouse with nearly 39% of the world’s funding and rapid growth rates. It is followed by New York, Southern California and Boston.
London (5th) and Tel Aviv (8th) are the only non-US clusters in the top 10, driven by their SaaS startup movements.
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