Gartner Forecasts 17.9% Growth in SaaS Market

A new report from Gartner says that the software as a service (SaaS) market will grow 17.9 percent in 2012, with total spending topping $14.5 billion. By 2014, customers will likely spend $22.1 billion on SaaS, says the firm. The report attributes the growth in the market to greater familiarity with SaaS, an increase in PaaS offerings and IT budget constraints.

According to Gartner, North America will remain the top region for SaaS purchases with $9.1 billion in revenue for 2011. It will be followed by Western Europe ($3.2 billion), Asia-Pacific ($934.1 million), Japan ($495.2 million) and Latin America ($419.7 million). SaaS spending in Eastern Europe, the Middle East and Africa will likely remain small.

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