New report predicts $50.8 Billion in SaaS enterprise applications by 2018

Software as a service or "SaaS" enterprise applications are on track to reach $50.8 billion in sales over the next three years, according to a new IDC report. In IDC's Worldwide SaaS Enterprise Applications 2014-2018 Forecast, the research firm provides current size estimates for the SaaS enterprise application market and a 2014-2018 forecast. According to IDC, worldwide revenue for the market was $22.6 billion in 2013 and will experience a compound annual growth rate (CAGR) of 17.6 percent for the 5-year forecast period (2013-2018).

"Demand for SaaS enterprise applications is accelerating and exceeding the demand for on-premise applications by five times," said IDC Research...

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