Revenue collected from the global software as a service (SaaS) within the enterprise application market is expected to climb to $9.2 billion by the end of 2010.
Gartner has predicted that by the end of the year the sector will have grown 15.7 per cent compared to 2009, with yet more growth forecast for 2011.
The market is projected to expand by a further 16.2 per cent in the coming year, with the total revenue collected expected to reach $10.7 billion, the independent research body claims.
Gartner defines SaaS as software that is owned, delivered and managed remotely by one or more providers.
"Initial concerns about security, response time and service availability have diminished for many organizations as SaaS business and computing models have matured and adoption has become more widespread," said Sharon Mertz, research director at Gartner.
"Usage and vendors' on-demand ecosystems continue to evolve to provide additional business and technology services, more-vertical-specific functionality and stronger communities of partners and buyers."
Posted by Richard Jones