Cloud software revenue to surpass $112.8 billion by 2019

August 18, 2015

The market achieved $48.8 billion (€44.2 billion) in 2014, at a year-on-year growth rate of 24.4 percent.

According to a study by IDC, cloud software will surpass $112.8 billion (€102.2 billion) by 2019, at a compound annual growth rate (CAGR) of 18.3 percent. The research group also predicts that SaaS delivery will be far more successful than traditional software product delivery methods, growing almost give times faster and becoming an important growth driver to all functional software markets.

IDC further anticipates that by 2019, the cloud software model will account for $1 (€0.90) of every $4.59 (€4.15) spent on software.

Robert P. Mahowald, Program Vice President of IDC’s SaaS and Cloud Services research practice, said: “Figuring out how to find and capitalise on the enormous cloud services transformation is the number one strategic goal of all major IT product vendors. SaaS, and broader public cloud opportunities, represents both a tremendous challenge to meet change head-on and a huge opportunity to realign with partners, create new capabilities, move into new markets, and define new leaders.”

 

Categories : Around the Industry

Tags : Cloud Market Data Technology