Further enhancing the massive potential of this cloud, research company Gartner predicts hefty growth in the Software-as-a-service market.
The study predicts SaaS revenue to soar past $12 billion by the end of the year, equaling an increase of nearly 21 percent from 2010. Gartner’s future forecast predicts no slowing down either, with SaaS revenue predicted to hit $21 billion by 2015.
However, a separate study conducted by nCircle finds security concerns to be strong, and often a detriment that supersedes the technology’s benefits.
In a study with 552 respondents, nearly 70 percent stated they were thinking of deploying a cloud solution, but 68 percent added that the security risks did not outweigh the savings.
This is an improvement from the 74 percent who responded negatively a year earlier, yet shows there is much work still to be accomplished.