Monday 12 May 2014

Market Trend of 2014 with SaaS

Authored by  Junaid Khan

SaaS, or Software as a Service, describes any cloud service where consumers are able to access software applications over the internet. The applications are hosted in “the cloud” and can be used for a wide range of tasks for both individuals and organisations. Salesforce, NetSuite and BravoSolutions are the best examples of SaaS, with users able to access the services via any internet enabled device. Enterprise users are able to use applications for a range of needs, including accounting and invoicing, tracking sales, planning, performance monitoring and communications.

The Software as a Service (SaaS) market is expected to grow from $390 million in 2008 to $4321 million in 2014, at a CAGR of 41.0% from 2008 to 2014. The demand for software as a service (SaaS) continues to grow rapidly among enterprises in Asia Pacific region. The key applications of SaaS model are Customer Relationship Management (CRM), Web Collaboration, ERP (Enterprise Resource Planning), Supply Chain Management (SCM), On- Demand HR Solution, to some extent Product Life-cycle Management (PLM), and Document Management (DM). Gartner has said the total market of SaaS will top $22 billion through 2015, up from more than $14 billion in 2012. Forrester predicts that software will see the strongest growth rate of any IT category in 2014 at 7.8%. The big contributors to software growth will be software as a service (SaaS), mobile app development, business intelligence, analytics and human-based collaboration software.

The coming year looks like that it will be characterized by growth for cloud computing in general, with a specific focus on enterprises leveraging the software-as-a-service (SaaS) model for their application assets. With SaaS, companies will be able to save costs and gain additional operational efficiencies with a workforce able to access corporate applications and data from a cloud-based environment. More data centers will open up all over the world in 2014, which will lead to wider availability of cloud-based software for companies based in foreign locales. Application performance will improve as SaaS vendors which gain access to more Internet peering points around the world. Stay tune with us to analysis the future market of Cloud Computing (PaaS and IaaS) in our next blog.

1 comment:

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