Research carried out by IT industry analyst IDC showed that the total SaaS market saw revenues reach $13.1 billion (£8.5 billion) in 2009 and predicted this will grow by 25.3 per cent a year to hit $40.5 billion by 2014.
In addition, the report claimed that by 2014, around 34 per cent of all new enterprise software purchases will be through SaaS.
Robert Mahowald, vice-president of SaaS and cloud services research at IDC, said that the innovation has now become part of the mainstream software market and is part of most companies' technology planning.
He commented: "Enterprise IT plans are rapidly shifting to accommodate the growing choices for sourcing most or all IT software functions, from business applications to software development and testing, […] as SaaS services."
Last week, IT industry researcher Gartner claimed that revenues in the enterprise SaaS sector will increase by 14.1 per cent over 2010 to reach more than $8.5 billion.
In addition, the report claimed that by 2014, around 34 per cent of all new enterprise software purchases will be through SaaS.
Robert Mahowald, vice-president of SaaS and cloud services research at IDC, said that the innovation has now become part of the mainstream software market and is part of most companies' technology planning.
He commented: "Enterprise IT plans are rapidly shifting to accommodate the growing choices for sourcing most or all IT software functions, from business applications to software development and testing, […] as SaaS services."
Last week, IT industry researcher Gartner claimed that revenues in the enterprise SaaS sector will increase by 14.1 per cent over 2010 to reach more than $8.5 billion.
