According to IDC, the worldwide SaaS market is set to reach an eyebrow-raising $40.5 billion by 2014 – that’s a compound annual growth rate of around 25 percent. IDC estimates that by 2014, 85 percent of new software companies will be offering their product through an SAAS delivery mechanism. The study also predicts a move away from US dominance of the software market as more application development is carried on in the cloud. At the same time, there will be a corresponding decline in traditional software licences, with a predicted drop in traditional licences.”]
Source: https://www.csoonline.com/article/2125658/saas-market-set-to-rocket.html