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

About CloudBuzz

Discover some of the top aggregated and curated technology news stories from around the world under the CloudBuzz authorship.

Catchup on trending stories related to Big Data, Cloud Computing, Wearable Technology, Internet of Things, Virtual Reality, Mobile Technologies and much more from some of the top information sources.

Find out more
View All Articles

Sorry, comments are closed for this post.

Transforming Traditional DevOps To A Modern Cloud-Centric Operation

Transforming Traditional DevOps To A Modern Cloud-Centric Operation

Transforming Traditional DevOps Over the last year, I’ve been hearing about more and more instances of companies asking the question that the title suggests – how do you transform a DevOPs process into a more cloud-centric operation? To start, we must all assume that there is some notion of a traditional DevOPs process built into…

You’ve Moved Your Data To The Cloud…What Now?

You’ve Moved Your Data To The Cloud…What Now?

Data To The Cloud…What Now? You’ve done the research. You’ve vetted multiple cloud solutions. You’ve chosen the right vendor. And you’ve migrated your data to the cloud. All done, right? Not so fast… While it has become a bit of a scary proposition for many organizations to put their trust in the cloud and start…

Insider Threats and Sensitive Data in the Cloud

Insider Threats and Sensitive Data in the Cloud

The Age of Sensitive Data in the Cloud A recent survey report conducted by the Cloud Security Alliance (CSA) revealed that cloud security had reached a tipping point: 64.9% of respondents (which included IT security professionals from enterprises across all industries and regions) believed that the cloud was as secure or more secure than their…

Cyber Physical Systems (CPS) And BYOD Security

Cyber Physical Systems (CPS) And BYOD Security

Cyber Physical Systems (CPS)  Technology has changed the world radically. But, to date, the world hasn’t changed as fast as technology to. There are a couple of concepts that are concerning as we head into the reality of CPS-deployed systems. The first is that standards don’t exist. Many companies are considering the Bring Your Own…

Does Slack Live Up To The Hype?

Does Slack Live Up To The Hype?

Does Slack Live Up to the Hype? Slack’s the definition of a business success story. In just a couple years, it’s evolved from a gaming company’s internal communication tool to a globally used platform that was last valued at $2.8 billion. The popular collaboration tool, dubbed “social media for business,” first made an appearance on…

How To Use Big Data And Analytics To Help Consumers

How To Use Big Data And Analytics To Help Consumers

Big Data Analytics Businesses are under increasing pressure to develop data-driven solutions. The competitive advantage gained by a successful strategy can be immense. It can create new opportunities and help businesses to react to different scenarios or sudden changes in the market. But innovation and resilience are not easily achieved, and organizations always face difficult…

The Cloud on Your Terms – What to look for in an EFSS Provider

The Cloud on Your Terms – What to look for in an EFSS Provider

The Cloud on Your Terms Your company has a mandate to go to the cloud and now it’s time to decide which services to use to help your business grow. You might be wearing several hats or you might be a dedicated IT professional and the responsibility has now been handed to you. So what…

CloudTweaks is recognized as one of the leading influencers in cloud computing, infosec, big data and the 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.

Advertising