IDC reports in a recent press release that:
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IDC reports in a recent press release that:
The Software as a Service (SaaS) market had worldwide revenues of $13.1 billion in 2009. IDC forecasts the market to reach $40.5 billion by 2014, representing a compound annual growth rate of 25.3%. By 2014, about 34% of all new business software purchases will be consumed via SaaS and SaaS delivery will constitute about 14.5% of worldwide software spending across all primary markets.
What about ERP software?
According to the IDC study, “applications will account for just over half of the market revenue.” The rest of the spending will occur on cloud platforms as businesses begin to purchase cloud services instead of hosted services.
ERP Cloud News Opinion:
Of the over $20B in application revenue, some will undoubtably be in ERP, while CRM, human resources, and other applications will continue to grow quickly as well. In addition, the size of the markets will be critical to cloud adoption. Small and medium sized businesses markets may develop quickly in the area of applications while larger businesses may develop more quickly in the area of infrastructure.