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The triumph of the cloud is complete, and there are no signs that cloud innovation is slowing down, although developers might soon run out of as-a-service acronyms. The evolution from SaaS to PaaS to IaaS and its offspring, iPaaS, is beginning to get confusing, but businesses are not fazed by this and are ramping up cloud investments.
Gartner projects that global revenue from public cloud technologies will reach $330bn by 2022, up from $180bn in 2018. SaaS will take the lion’s share with $144bn, an increase of 80%. Even more mouth-watering for SaaS vendors is the projected total spend on cloud software over the next few years: a colossal $350bn.