SaaS Revenue to Reach $53.5 Billion in 2018

By CIOReview | Thursday, May 1, 2014
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FREMONT, CA: A report, “Cloud Computing – Enterprise Markets: SaaS, PaaS & IaaS, 2014-2018”, by Juniper Research, shows that revenues generated from enterprise software-as-a-service is expected to reach $53.5 billion in 2018, which is a steep increase from $23.2 Billion in 2013, reports Bob Violino, Information Management.

According to the report, as a result of its maturity, universal access, as well as recognition of the benefits and risks of commissioning cloud-based software, SaaS will continue being the dominant cloud model. However, the adoption of enterprises to Platform-as-a-Service and Infrastructure-as-a-Service is affected by concerns over data security, compliance and portability. However, they will see a remarkable growth over the predicted period as new applications (which are developed for the cloud to tackle workloads) benefit from a PaaS “fast-track” model.

Service providers are also providing support and fusing PaaS to be an extension of other cloud services. The report also states that small and medium sized businesses, due to a high level of control of the software stack and security implementation, are attracted by the IaaS.

The report also warns that potential customers have to identify and establish as to what services can be deployed in the cloud.