Revenues > 24 bn€

Total revenues for the Truffle 100 are 29 bn€
Revenues from software activity are 24,4 bn€

A concentrated industry : 80 % of revenues come from the top 25 vendors

vendors (% revenues Truffle 100)
SAP	42 %
TOP 3	55 %
TOP 5	59 %
TOP 10	67 %
TOP 50	91 %

39 vendors have revenues > 100 m€ (up from 30 one year ago);
they account for 87 % of Truffle 100 revenues

65 vendors have revenues > 50 m€
they account for 95 % of Truffle 100 revenues

All Truffle 100 have revenues > 25 m€
(up from 20 m€ one year ago)

World-class national champions

Vendor	Country	Revenues € million	% of Truffle 100
SAP	DE	10 269	42.2 %
Sage	UK	1 787	7.3 %
Dassault Systemes	FR	1 259	5.2 %
Gruppo Engineering	IT	467	1.9 %
Visma ASA	NO	338	1.4 %
UNIT4 AGRESSO NV	NL	320	1.3 %

Insufficiently diversified

• 1/3 of the Truffle 100 are in the ERP or related business
• Another 1/3 is composed of infrastructure software vendors
• Overweght of Financial software and Public sector software
  

Facing global competition