Analysts Predict SaaS Revenues to Reach USD 85 Billion in 2019

PALM BEACH, Florida: Gartner, a leading research and advisory company, has recently issued a report on the SaaS and global cloud markets.

Gartner defines software as a service (SaaS) as software that is owned, delivered and managed remotely by one or more providers. The provider delivers software based on one set of common code and data definitions that is consumed in a one-to-many model by all contracted customers at anytime on a pay-for-use basis or as a subscription based on use metrics.

In its report it predicted that: the market will grow 17.3 percent in 2019. The fastest-growing segment -- cloud system infrastructure services, or infrastructure as a service (IaaS) -- is forecasted to grow 27.6 percent in 2019.

By 2022, Gartner expects that 90 percent of organizations purchasing public cloud IaaS will do so from an integrated IaaS and platform as a service (PaaS) provider, and will use both the IaaS and PaaS capabilities from that provider.

When it comes to the business process as a service (BPaaS) category, Gartner expects to see revenue grow 7.9 percent to $50.3 billion in 2019. Globally speaking, Gartner predicts that by 2021, cloud revenues will total $278 billion. Active Companies from around the tech market with current developments this week include: Zevotek, Inc. (OTC: ZVTK),, inc. (NYSE: CRM), CyberArk Software Ltd. (NASDAQ: CYBR), Oracle Corporation (NYSE: ORCL), Symantec Corporation (NASDAQ: SYMC).

The report continued: Meantime, cloud application services -- or software as a service (SaaS) -- remains the largest segment of the cloud market, with revenue expected to grow 17.8 percent to reach $85.1 billion in 2019. The increasing adoption of SaaS applications and other cloud services impacts the management, dissemination and exploitation of enterprise content, Craig Roth, research VP at Gartner. Organizations are steadily -- but not exclusively -- shifting their content environments to SaaS.
(PRN | 10 months ago)

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Analysts Predict SaaS Revenues to Reach USD 85 Billion in 2019