Software
Vertical SaaS by the industry it serves, the generic categories every company buys, and the cross-industry set that spans several industries at once. The full catalogue →
185 categories — 144 vertical, 25 generic, 16 catalogued cross-industry. 403 records carry researched financials (2078 tiered figures); the rest name an incumbent and say plainly that nobody discloses. Every industry these sell into has a base report with its business counts — the buyer population.
Software sold to one industry, indexed against that industry’s NAICS code. The question in every one of these markets is the same: who owns it, how are they defended, and what does their defence leave open.
Vertical software by industry
Every vertical market in this research, grouped by the sector it sells into. A “sourced” tag means the incumbent’s numbers came from a filing rather than from judgment.
Health care and social assistance
16Transportation and warehousing
14Professional, scientific and technical services
12Other services (except public administration)
11Manufacturing
10Retail trade
9Information and cultural industries
9Administrative and support, waste management and remediation services
9Arts, entertainment and recreation
9Finance and insurance
8Real estate and rental and leasing
8Construction
5Educational services
5Agriculture, forestry, fishing and hunting
4Accommodation and food services
3Mining, quarrying, and oil and gas extraction
3Wholesale trade
3Public administration
3Utilities
2Management of companies and enterprises
1Incumbent comparison
Every vertical market with a full study, side by side. The lock-in column is the one to read first: it is what a new entrant is actually competing against.
| Market | Incumbent | Scale | Lock-in | Buyer consolidating | Score | Call |
|---|---|---|---|---|---|---|
| Mechanical Trades Contractor Software 238220 · Plumbing, heating and air-conditioning contractors |
ServiceTitan (NASDAQ: TTAN) | FY2026 revenue $961M, +24% YoY, having passed a $1B annualised run rate; Q4 revenue $254M, +21% | 12-month minimum contracts, multi-year for larger firms, early-cancellation penalties, and $5,000–$50,000 implementation sunk cost | No | 7.55 | Enter — narrow |
| Dealership Management Systems 441110 · New car dealers |
CDK Global | ~50% of US dealers | OEM certification requirements plus contested control of dealer data on exit | Yes | 7.45 | Enter |
| Restaurant Operations Software 722511 · Full-service restaurants |
Toast (NYSE: TOST) | FY2025 revenue $6.153B (from $4.960B); ARR above $2.0B at 31 December 2025, +26%; a record 30,000 net locations added, ending at ~164,000 | Proprietary hardware at $5,000–$15,000 per location that works with no other processor, plus bundled payment processing | No | 7.35 | Enter — narrow |
| Home Care Agency Software 621610 · Home health care services |
WellSky and AlayaCare | Top five vendors hold ~45% of annual sales at the application layer — but the EVV aggregation rail beneath it consolidated into HHAeXchange/Sandata in October 2024, which is the more decisive structure | Moderate at the application layer, high at the EVV layer. State-aggregator integrations and payer billing configuration are the switching cost, and after the Sandata deal one vendor holds a large share of those contracts | Yes | 6.80 | Wait |
| Dental Practice Management Software 621210 · Offices of dentists |
Henry Schein One (Dentrix) and Patterson (Eaglesoft) | Henry Schein's Global Technology segment — which contains Henry Schein One and Dentrix — ran $675M in FY2025 (52 weeks to 27 December 2025), up 7.1% from $630M; Global Value-Added Services added $238M, +2.2% | Data gravity and per-practice licensing; migration cost rises with every acquired practice | Yes | 6.75 | Enter — narrow |
| Insurance Agency Management Systems 524210 · Insurance agencies and brokerages |
Applied Systems (Epic) and Vertafore (AMS360) | Together control the majority of the independent agency AMS market; Applied Epic has led its G2 category for 20 consecutive quarters | Multi-year contracts plus migration cost — conversion difficulty IS the retention strategy | Yes | 6.65 | Wait |
| Legal Practice Management Software 541110 · Offices of lawyers |
Clio (Burnaby, BC) | US$500M+ ARR (May 2026); $5B valuation; 400,000 legal professionals | Suite bundling — practice management, payments, and now legal research and drafting in one subscription | No | 6.25 | Wait |
| Veterinary Practice Management Software 541940 · Veterinary services |
IDEXX (ezyVet, Neo) and Covetrus (Pulse) | IDEXX reports veterinary software, services and diagnostic imaging systems as one line: $81.6M in the reported period, of which $65.8M recurring and $15.8M systems and hardware, growing 13% reported and organic on cloud-native installed-base expansion | Diagnostic analyser integration. The software is the channel for consumables revenue, not the product | Yes | 5.50 | Walk |
Screened, not studied
Screened but not taken to a full study. Records tagged “sourced figures” carry researched financials; the rest name an incumbent only — the absence of a figure is itself the finding, not an oversight.
Sold to every industry rather than one, so filed against the software industry’s own code instead of a customer’s. Sixteen categories — and the same handful of vendors across most of them, which is the finding. Each carries its full vendor field, paid and open source, because where a free tier exists it is what sets the price.
Category comparison
Every generic category with a full study, side by side.
| Market | Incumbent | Scale | Lock-in | Buyer consolidating | Score | Call |
|---|---|---|---|---|---|---|
| CRM — Customer Relationship Management 541514 · Computer systems design and related services (except video game design and development) |
Salesforce (NYSE: CRM) | FY2026 revenue $41.5B, +10% YoY | Data gravity, admin ecosystem, and a certified consultant labour market that exists to keep customers on the platform | No | 6.35 | Walk |
| ERP — Enterprise Resource Planning 541514 · Computer systems design and related services (except video game design and development) |
SAP | Cloud revenue €21.66B in 2025, +26% at constant currency (from €17.14B in 2024); current cloud backlog €21.05B and total cloud backlog €77B, +30% cc | Implementation sunk cost. An ERP migration is a multi-year, multi-million-dollar programme — the deepest switching cost in business software | No | 6.05 | Walk |
| HRM — Human Resource Management & Payroll 541514 · Computer systems design and related services (except video game design and development) |
Rippling, Workday, ADP | Workday FY2026 revenue $9.552B, +13.1%, of which subscription $8.833B, +14.4%; ADP FY2026 revenue $21.947B, +7% (+6% organic constant currency) | Payroll. Once you run payroll for a company, switching means risking employees not being paid — the strongest switching cost in horizontal software | No | 5.85 | Walk |
| Project Management Software 541514 · Computer systems design and related services (except video game design and development) |
Microsoft, Atlassian, Asana, Monday.com | Atlassian FY2025 revenue $5.2B, +20% (from $4.4B); monday.com FY2025 revenue $1.232B, +27%; Asana FY2026 revenue $790.8M | The weakest in this research. Projects and tasks export cleanly; teams switch tools on a whim | No | 5.65 | Walk |
| ATS — Applicant Tracking Systems 541514 · Computer systems design and related services (except video game design and development) |
iCIMS, Greenhouse, Workday Recruiting | Workday, whose recruiting module ships inside a $9.552B FY2026 business (subscription $8.833B, +14.5%), is the enterprise anchor; the specialists are private and disclose nothing | Weak. Candidate data exports, and job-board integrations are commodity | No | 5.20 | Walk |
The same actors, across the categories
Sixteen generic categories, but not sixteen sets of competitors. Read a row to see how far a vendor reaches, and a column to see who a buyer in that category is actually choosing between.
| Vendor | In | CRM | ERP | HRM | Project Managem… | ATS | CLM | CMS | CNAPP | Corporate LMS | CPQ | DAM | DMS | EAM | EOR | Expense | GRC | Knowledge Manag… | LXP | Procurement | Revenue Intelli… | Sales Engagement | Sales Intellige… | Team Chat | WFM | Workflow Automa… |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Microsoft | 8 | |||||||||||||||||||||||||
| SAP | 8 | |||||||||||||||||||||||||
| Workday | 6 | |||||||||||||||||||||||||
| Oracle | 5 | |||||||||||||||||||||||||
| Salesforce | 5 | |||||||||||||||||||||||||
| Adobe | 2 | |||||||||||||||||||||||||
| Atlassian | 2 | |||||||||||||||||||||||||
| Conga | 2 | |||||||||||||||||||||||||
| Cornerstone | 2 | |||||||||||||||||||||||||
| 2 | ||||||||||||||||||||||||||
| HubSpot | 2 | |||||||||||||||||||||||||
| PROS | 2 | |||||||||||||||||||||||||
| ServiceNow | 2 | |||||||||||||||||||||||||
| Zoho | 2 |
14 vendors span more than one category; 15 of those tracked appear in exactly one. That concentration is the finding. A generic category is rarely a market a new entrant can enter on its own merits — it is a column in somebody else's suite, and the suite is sold once. Parent mapping is analyst judgment, not a registry.
The open-source field
Every free alternative in each generic category. Where one exists it sets the price floor at zero; where none does, that absence is the finding.
Adoption of open-source CRM is growing on explicit total-cost grounds — no licence fees, self-hosting, data control — and AI features now ship in the open-source tier as standard rather than as a paid add-on.
Open-source ERP is a $5.31B market in 2026 growing at 9.66% CAGR, with adoption up 32% in 2026 driven explicitly by rising proprietary licence costs. AI has changed the shortlist: open-source options now appear on evaluations that would previously have gone straight to SAP or NetSuite.
This is the one generic category where open source does NOT set the price to zero. Every open-source option is strong on employee records and weak or absent on multi-jurisdiction payroll — the part with a real moat. That asymmetry is the study's central finding.
The open-source project management tier is projected to reach $3.2B by 2031 at 9.5% CAGR, and GitLab, OpenProject and Taiga now ship managed cloud editions — removing self-hosting effort, the last practical reason to pay.
The open-source tier here is thinner than in CRM or ERP, but it does not need depth: at the small-team end an ATS is a database, a form and a job-board integration, and OpenCATS covers all three for nothing.
No open-source CLM of consequence exists, and the reason is liability rather than capability. The artefact is an executed legal record with retention, audit and privilege duties attached, so self-hosting it transfers risk to the buyer instead of saving them a licence fee — the inverse of the calculation that makes open-source CRM attractive. Where the free tier is missing, the incumbent keeps its pricing power.
No meaningful open-source CLM exists. The artefact is an executed legal record with audit and retention duties attached, and self-hosting that is a liability rather than a saving — the opposite of the calculation that makes open-source CRM attractive.
In content management, open source is the incumbent rather than the alternative. WordPress alone runs most sites with a detectable CMS, Drupal carries much of the government and university tier, and the headless generation (Strapi, Payload, Directus) launched as free or source-available software. A paid entrant therefore competes with a free product in every architecture.
The open-source tier here is real and it is the reason the floor is zero. A posture scan is a config read against a public rule set, which a community can maintain — unlike a supplier network or a card programme. The paid tier sells triage, graph context and audit evidence, not the scan.
This is the clearest open-source price floor in the generic set. Moodle and Open edX run national education systems, so the free tier is not a toy — the paid vendors sell administration, reporting and compliance evidence rather than the ability to deliver a course.
No open-source CPQ of consequence. A configuration and pricing engine is close to worthless without the product catalogue and commercial policy behind it, and those are the customer's own confidential data rather than anything a community can ship. The absence is a statement about where the value sits, not about the difficulty of the software.
No open-source CPQ of consequence. A configuration engine is worth little without the product catalogue and pricing policy behind it, and those are the customer's private data rather than something a community can ship.
An asset repository is a file store with metadata and rights attached, which is exactly the shape a community project can carry — so the free tier here is credible, unlike procurement or expense.
A document repository is the shape a community project can build: a file store with versions, metadata and permissions. As with DAM, the free tier here is credible. The paid tiers split three ways: the Microsoft 365 default, enterprise ECM (OpenText, Hyland), and vertical leaders in legal (iManage, NetDocuments) and regulated quality documents (M-Files).
No open-source EAM of consequence exists. ERP suites such as Odoo and ERPNext include a basic maintenance module, but nothing open-source carries the regulated asset register, risk-based inspection or reliability analytics that a utility or refinery buys EAM for. Where the free tier is missing, the incumbents keep their pricing power.
EAM is a consolidated category of suite and industrial-group products. The enterprise tier is IBM Maximo, SAP and IFS, with Octave, Oracle and the infrastructure-software groups (Bentley, Trimble) behind them, and APM vendors (GE Vernova, AVEVA) layered on top. Every major independent has been acquired.
There is no open-source tier, for structural reasons. Being the employer of record means owning a registered entity, a payroll tax account and benefit contracts in each country, and those cannot be forked. Without a free tier the pressure on price comes from venture-funded rivals and suite bundling instead, and Deel's profitability shows that pressure has not yet broken the leader's economics.
No open-source EOR exists, and none can. The product is a local legal entity in each country with payroll, tax and benefits registrations attached. That is a balance-sheet and licensing asset, not code. Open-source payroll engines exist inside ERP suites, but they do not make anyone the employer of record.
No open-source tier, and interchange is the reason. The economics of this category depend on issuing a card and earning on the spend; a community project cannot issue one. That is also why the commercial price is falling toward zero without any free tier existing — the floor is being set by payments revenue, not by open source.
No open-source tier, and interchange is why. A community project cannot issue a card, and without the card the economics of this category do not work at all.
Open-source GRC is real but competes on a different axis: the paid tier sells an auditor-acceptable evidence trail and the integrations that populate it, not the control framework, which is public.
The open-source tier here is unusually strong — five mature wiki and knowledge platforms with permissive or copyleft licences — which is why the paid tier has moved upmarket into AI-assisted enterprise search rather than defending the document store.
Three layers, one buyer. Recommendation and skills graph (Degreed, EdCast, Sana), skills intelligence and internal mobility (Eightfold AI, Gloat, Fuel50, Workera), and the content the layer recommends (Go1, Coursera, LinkedIn Learning, Pluralsight, Skillsoft). The CHRO buys all three, increasingly from the HR suite that holds the employee record.
This category has no open-source tier, and the absence is structural rather than an omission. The thing being bought is a live supplier network carrying catalogue, tax and payment detail for thousands of counterparties. A community can host software; it cannot host the other side of a trading relationship. Compare CRM, LMS and DAM in this same set, where the artefact is a record, a course or a file and the free tier is strong.
No credible open-source tier exists here, and the reason is instructive: the value is a live supplier network with payment and tax data attached, which is not something a community can host into being. Compare CRM and LMS, where the artefact is a record or a course and the free tier is strong.
This category has no open-source tier at all — and that absence is the finding rather than an omission. CRM, ERP, project management, HRM and ATS each have a credible free substitute that sets a price floor; sales engagement and revenue intelligence do not, because the product is a data network effect over call recordings, CRM history and buyer signals rather than a schema anyone can reimplement. The nearest adjacents are Mautic (GPL-3.0) for marketing automation and SuiteCRM (AGPL-3.0) for the CRM record beneath it, and neither substitutes.
This category has no open-source tier at all — and that absence is the finding rather than an omission. CRM, ERP, project management, HRM and ATS each have a credible free substitute that sets a price floor; sales engagement and revenue intelligence do not, because the product is a data network effect over call recordings, CRM history and buyer signals rather than a schema anyone can reimplement. The nearest adjacents are Mautic (GPL-3.0) for marketing automation and SuiteCRM (AGPL-3.0) for the CRM record beneath it, and neither substitutes.
This category has no open-source tier at all — and that absence is the finding rather than an omission. CRM, ERP, project management, HRM and ATS each have a credible free substitute that sets a price floor; sales engagement and revenue intelligence do not, because the product is a data network effect over call recordings, CRM history and buyer signals rather than a schema anyone can reimplement. The nearest adjacents are Mautic (GPL-3.0) for marketing automation and SuiteCRM (AGPL-3.0) for the CRM record beneath it, and neither substitutes.
This category has no open-source tier at all — and that absence is the finding rather than an omission. CRM, ERP, project management, HRM and ATS each have a credible free substitute that sets a price floor; sales engagement and revenue intelligence do not, because the product is a data network effect over call recordings, CRM history and buyer signals rather than a schema anyone can reimplement. The nearest adjacents are Mautic (GPL-3.0) for marketing automation and SuiteCRM (AGPL-3.0) for the CRM record beneath it, and neither substitutes.
No open-source tier exists, and it cannot. The product is not software, it is a continuously re-verified corpus of people and companies. Code can be given away; the cost here is acquisition, verification and decay — contact data rots at roughly a third a year — so there is no volunteer-maintained alternative and there will not be one. The nearest things are public registers: open corporate registries, OpenCorporates, and government business registers. They carry firmographics but not people, which is precisely the gap the paid field sells into.
Read this category as two layers rather than one market. Layer one owns records — ZoomInfo, Apollo, Cognism, Lusha, People Data Labs — and is commoditising, because waterfall enrichment made any single supplier replaceable. Layer two routes between them — Clay, FullEnrich, BetterContact, LeadMagic — owns no data, carries no acquisition cost, and is where the valuations have gone. An entrant choosing layer one is buying the deflating half.
Two layers, both crowded. Team chat is held by the suite bundles (Teams, Slack, Google Chat, Zoom Team Chat), with four mature open-source servers under them. Customer web chat is older. It ran from the 2000s live-chat widget to the 2016 scripted chatbot to today's LLM agent billed per resolution, and the same vendors (Intercom, Zendesk, Text, Tidio) carried their installed bases through each wave.
WFM has three tiers, and each tier has a different owner. UKG holds the enterprise end, Kronos's installed base of pay rules, union agreements and timeclocks, and it is still buying. Payroll suites (ADP, Paychex–Paycor, Workday, Dayforce) sell time as a module of the payroll the buyer already runs. A crowded SMB tier of venture-funded apps sells to the operator, priced per user or per location, and three of them have free plans.
The open tier is real, and in this category it is the challenger rather than a hobby. A workflow engine is code that calls APIs on a schedule or a trigger, which a community can build and a technical team can host. n8n turned that into a $2.5B company by publishing its source under a licence that lets any business run it internally for free.
Screened, not studied
Generic categories screened but not taken to a full study.
Catalogued as vertical, actually generic
These sit in the source catalogue among the verticals, but they are sold to every industry and belong here. The reclassification is this atlas’s judgment — and none has been screened.
| # | Category | Group | Anchor industry | Industry report |
|---|---|---|---|---|
| 34 | Vendor risk management SaaS | Procurement & supply chain | no single industry | none yet |
| 35 | Procurement workflow automation SaaS | Procurement & supply chain | no single industry | none yet |
| 36 | Supplier compliance tracking SaaS | Procurement & supply chain | no single industry | none yet |
| 37 | Inventory forecasting SaaS | Procurement & supply chain | no single industry | none yet |
| 59 | Contract lifecycle management SaaS | Legal | no single industry | none yet |
| 64 | Expense management SaaS | Financial services | no single industry | none yet |
| 80 | Corporate training management SaaS | Education | no single industry | none yet |
| 119 | Freelancer billing and CRM SaaS | Agency & creative | no single industry | none yet |
| 122 | Industry-specific email marketing SaaS | Marketing | no single industry | none yet |
| 126 | Configure-Price-Quote (CPQ) SaaS | Sales | no single industry | none yet |
| 127 | Sales engagement and outreach SaaS | Sales | no single industry | none yet |
| 128 | Sales analytics and forecasting SaaS | Sales | no single industry | none yet |
| 130 | Corporate treasury management SaaS | Fintech | no single industry | none yet |
| 132 | Cloud security posture management SaaS | Security & compliance | no single industry | none yet |
| 133 | SOX/GDPR compliance SaaS | Security & compliance | no single industry | none yet |
| 137 | Digital asset management SaaS | Media & entertainment | no single industry | none yet |
The awkward middle: vertical in spirit but spanning several industries at once, so no single NAICS code fully contains them. Carbon accounting is sold to every manufacturer, hauler and utility; franchise operations software follows the franchise model across food, fitness and retail alike.
The anchor industry is navigation, not a claim
All 16 carry a screen with an entry signal, the same as every other market here. Each is also pinned to the closest single NAICS industry so a row reaches an industry report — but that anchor is a convenience, and these records deliberately do not borrow their anchor industry's business counts, because the buyer population is not that industry's.
Cross-industry markets — 16 screened
Vertical in spirit, but spanning several industries at once. Screened on the same model as the rest, and several of them conclude that the category is a column in somebody else’s suite rather than a market an entrant can hold on its own — which is a finding, not a gap.