Software-as-a-service market ‘set to grow at impressive rate’

The global market for software-as-a-service products is expected to grow at a rapid rate over the course of the next few years.

In an article published on IT Web, it was explained that while several areas of the IT sector have experienced a downturn as a result of the current economic climate, software-as-a-service solutions have bucked this trend to a significant degree.

"According to international research group IDC, the prediction is that software-as-a-service uptake will show 30 per cent compound annual growth rate for the next five years," the report said.

It added this prediction has been backed up by a similar forecast from Forrester Research, which stated providers of the technology are recording double-digit growth figures for their subscription revenues.

Last month, Windows IT Pro commentator Jeff James explained software-as-a-service applications can be accessed via iPads, an important factor in making many companies increasingly interested in the Apple devices.