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Gartner Forecasts SaaS Revenue to Grow 21% in 2011

Gartner Forecasts SaaS Revenue to Grow 21% in 2011

In 2010, customers spent a total of $10 billion on software as a service (SaaS) offerings. However, Gartner predicts that this segment of the cloud computing market could be worth $12.1 billion in 2011, a 21 percent increase. By 2015, SaaS revenue could top $21.3 billion.

Analysts say that customer concerns about the security and availability of cloud computing services are diminishing. “After more than a decade of use, adoption of SaaS continues to grow and evolve within the enterprise application markets,” said Gartner’s Tom Eid. “This is occurring as tighter capital budgets demand leaner alternatives, popularity and familiarity with the model increases, and interest in platform as a service (PaaS) and cloud computing grows.”

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