Posted by aionol | 25 DEC 2017

Latest News Show Software as a Service Industry’s Revenue Up 23%

As the shift to cloud continues, global revenue in the Software as a Service (SaaS) industry topped $43 billion in the first half of this year. That’s a 23% increase from 2016. According to new data, that makes up nearly 70% of the entire cloud market. The numbers indicate the continued transition from traditional software […]

As the shift to cloud continues, global revenue in the Software as a Service (SaaS) industry topped $43 billion in the first half of this year.

That’s a 23% increase from 2016.

According to new data, that makes up nearly 70% of the entire cloud market. The numbers indicate the continued transition from traditional software to apps and subscription services which are cloud-based.

The rapid growth in the other primary segments of cloud, IaaS and PaaS, show that businesses focus their IT strategy on the cloud first.

The other two primary cloud segments are also expanding rapidly, grabbing a larger share of the market even as the SaaS sector continues to grow.

Latest News Show Software as a Service Industry's Revenue Up 23%

Latest News Show Software as a Service Industry’s Revenue Up 23%

Infrastructure as a Service (IaaS) grew 38%, while Platform as a Service witnessed a 50% increase in 2017.

After successfully migrating applications to the cloud, many companies are now evaluating the migration of larger strategic systems, like supply chain applications, to a SaaS model.

It is expected that 73% of organizations would have shifted all their applications to a SaaS model by 2020. According to predictions made by research firm, Gartner, SaaS revenue could reach $58.6 billion in 2017. So far, growth has exceeded projections over the past two years. SaaS industry revenue is predicted to reach $100 billion by 2020.

It is expected that companies will be running purely on SaaS soon. Stay ahead of your competition by giving your IT systems the right momentum.

The team at Iono Inc. can help you get a head start with your SaaS strategy.

Leave a Reply

Your email address will not be published. Required fields are marked *