Wadih founded both PairSoft and PaperSave. He is an avid technologist who specializes in streamlining operations and maximizing productivity.View all posts by Wadih Pazos
Wadih Pazos • April 15, 2015
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Investopedia recommended jumping on board due to research conducted by Goldman Sachs that projects software-as-a-service (SaaS) revenue to reach $106 in 2016 – a 21 percent increase over this year’s figures. According to a Forrester study, the source reported that cloud computing as an industry is expected to grow from $58 billion in 2013 to about $191 million by 2020, meaning now would be an opportune time to invest.
According to the Goldman Sachs study, Enterprise Irregulars added that spending on cloud computing infrastructure and platforms is projected to see continued growth. The compound annual growth rate between 2013 and 2018 will likely be an astounding 30 percent, while the rest of the IT field will only see a 5 percent CAGR over the same period.
The reasons behind the expansion of cloud computing can be tied to a few very simple factors, Investopedia elaborated. The ability to outsource software and hardware used for tech services is a major cost-cutting initiative. At the same time, clients also benefit by not having to buy resources they can now obtain from on-demand cloud services.
IT executives listed security, cloud computing, and mobile devices as their top three priorities for the next 12 months, Enterprise Irregulars noted. Remarkably, 42 percent of all industry decision-makers have plans to increase spending on cloud computing during this period, and for companies with over 1,000 employees, that rate rises to 52 percent.
So, it’s clear that the industry is constantly growing and seems well-positioned to continue to do so for the better part of the next half-decade, at the very least. From an investing perspective, now would appear to be a good time to get involved to maximize ROI best. As for businesses – if you haven’t made the switch to cloud-based documenting and transactions, it’s probably a wise idea to do so. The future will be centered around mobile trade, and being aggressive in keeping up with the latest technology and software trends is imperative for success.