Cloud Computing to Drive Industry Growth in 2011

Cloud Computing to Drive Industry Growth in 2011

Cloud computing and Software-as-a-Service (SaaS) will drive the largest amount of spending in the software industry over the next 12 months, according to a new Sand Hill Group survey.

The survey findings from the Software CEO/CFO Outlook 2011 study are based on the interviews of more than 100 software company CEOs and CFOs who expect their company’s business will grow by at least 20 percent in 2011.  Hiring is also expected to increase significantly due to this growth in the business.

Although recession hit the world in 2008 and 2009, the software industry is still continuing to pull itself out of the economic meltdown.

However, the survey respondents are very optimistic about the industry as a whole and more than three-quarters of the respondents said that their company had already returned to pre-recession growth levels or would reach those levels in 2011.

About two-thirds of the respondents said their company is set to grow by at least 20 percent over the next 12 months.

Sand Hill Group provides strategic management, investment and marketing services to emerging market leaders.

Elaborating further on the report the company says that over 50 percent of the respondents believe that one of the biggest reasons to increase spending on software will be to increase efficiencies and reduce costs.

The new Sand Hill Group survey also shows that software vendors have increased their use of cloud deployment options over the past year. These vendors have decreased their use of on-premises options during the same period.

More than 70 percent of those surveyed said that multi-tenant SaaS solutions via a subscription license will be most sought after offering for new customers during the next 12 months.

By Anuradha Shukla

One Response to Cloud Computing to Drive Industry Growth in 2011

  1. […] A recent Forrester report points to significant disaffection with IT, with 69 per cent of respondents admit to budget items for IT products or services without involving IT. Some IT professionals, whether for job security or data security, have resisted this trend, but have failed to stop it, with cloud computing set to dramatically expand the overall software industry in 2011. […]

Cloud Infographic – Cyber Security And The New Frontier

Cloud Infographic – Cyber Security And The New Frontier

Cyber Security: The New Frontier The security environment of the 21st century is constantly evolving, and it’s difficult to predict where the next threats and dangers will come from. But one thing is clear: the ever-expanding frontier of digital space will continue to present firms and governments with security challenges. From politically-motivated Denial-of-Service attacks to…

Using Big Data To Make Cities Smarter

Using Big Data To Make Cities Smarter

Using Big Data To Make Cities Smarter The city of the future is impeccably documented. Sensors are used to measure air quality, traffic patterns, and crowd movement. Emerging neighborhoods are quickly recognized, public safety threats are found via social networks, and emergencies are dealt with quicklier. Crowdsourcing reduces commuting times, provides people with better transportation…

IBM and SAP Announce Industry’s Largest Cloud Deal

IBM and SAP Announce Industry’s Largest Cloud Deal

IBM and SAP Announce Industry’s Largest Cloud Deal IBM and SAP have shaken the cloud computing world this afternoon with the announcement of one of the largest cloud deals in the industry’s history – bringing together two of the largest technology companies in a bid to offer a more holistic service to their clients. SAP…

The Industries That The Cloud Will Change The Most

The Industries That The Cloud Will Change The Most

The Industries That The Cloud Will Change The Most Cloud computing is rapidly revolutionizing the way we do business. Instead of being a blurry buzzword, it has become a facet of everyday life. Most people may not quite understand how the cloud works, but electricity is quite difficult to fathom as well. Anyway, regardless of…

Big Data Analytics Adoption

Big Data Analytics Adoption

Big Data Analytics Adoption Big Data is an emerging phenomenon. Nowadays, many organizations have adopted information technology (IT) and information systems (IS) in business to handle huge amounts of data and gain better insights into their business. Many scholars believe that Business Intelligence (BI), solutions with Analytics capabilities, offer benefits to companies to achieve competitive…

CONNECT TO THE CLOUD

 

Cloud Logo Sponsors

hp Logo CityCloud-PoweredByOpenstack-Bluesquare_logo_100x100-01
cisco_logo_100x100 vmware citrix100


Contributor Spotlight

Established in 2009, CloudTweaks is recognized as one of the leading influencers in cloud computing, big data and internet of things (IoT) information. Our goal is to continue to build our growing information portal, by providing the best in-depth articles, interviews, event listings, whitepapers, infographics and much more.

Contact

CloudTweaks Media
Phone: 1 (212) 763-0021