Wednesday, November 05, 2014
Growing adoption rate and new services boost SaaS revenues
The International Data Corporation predicted a growth rate of nearly 23 percent for public cloud services between now and 2018, according to Data Center Dynamics. This translates to annual revenue of over $127 billion over this year's reported $57 billion dollars so far in 2014. Speculation from the IDC report expected much of this growth to be generated by greater adoption of Software-as-a-Service solutions by IT staffs going forward. Companies putting off the migration to the cloud can cut costs by preparing their budget and infrastructure for a move to the cloud that may be inevitable.
SaaS adoption becoming essential
IDC trend data shows that SaaS solutions have become one of the most popular IT expenses, accounting for 70 percent of cloud spending this year, said Data Center Knowledge. Experts expect the the industry to "continue to dominate public IT cloud services spending" as data facilities consolidate by putting more data into the cloud to keep pace with competitors. The flexibility of SaaS allows even smaller companies to take advantage of the cloud by creatively leveraging hardware, such as a providing access to a company's cloud platform to out-of-state employees utilizing remote console servers. Ongoing innovations are generating greater interest in SaaS as well.
Support from startups and new services
New applications for Software-as-a-Service solutions are being developed by startup companies vying for attention in a crowded market, said Tech Circle. Innovation is happening locally and abroad, proving companies with a global buffet of SaaS solutions. Developers in India, for instance, recently met at the Tech Circle SaaS 2015 Forum in Bangalore to discuss new strategies for earning a piece of the nation's $30 billion in annual IT spending. Topics included the introduction of annual maintenance checks and new strategies for fee schedules.
In the United States, small to medium SaaS providers are likewise debuting new services to drum up business. N.Y.-based jKool, for example, has developed a service that interprets a company's time-sensitive data to produce big data analytics for customers. New users can try out jKool's service through a free introductory period offering 1 billion data points over two weeks.
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