The data analytics market is poised for exponential growth, leaving plenty of room for the growth of companies across verticals from workplace efficiency to governmental management. Salesforce is a powerhouse in the customer relationship management (CRM) industry, while Palantir Technologies is a well-known leader in big data analytics for governmental bodies, financial institutions, and healthcare organizations. Although Palantir casts a wide net, Salesforce’s focused solutions have grown its market cap in excess of $150 billion; but can the former grow into an entity of the same size?
Palantir offers two primary solutions: Gotham, a platform for governmental clients, and Foundry, which is geared toward enterprise customers. Gotham has been used by the U.S. government for an array of operations, possibly including the 2011 hunt for Osama bin Laden, while Foundry is used by enterprises from Hertz to Ferrari. On the other hand, Salesforce’s CRM helps enterprises stay connected to their customers with cloud-based data visualization, analytics, communications tools, and more. Its solutions are used by big-name companies like Spotify, Amazon Web Services (AWS), and Walmart.
While both companies provide similar technologies, Palantir is unlikely to reach the same level of financial success as Salesforce anytime soon, although it reported 2021 revenues of over $1 billion. With a market cap of roughly a tenth of the CRM giant, it will have to continue blazing its own trail.