The UK Software and IT services market (SITS) is predicted to grow a further 8%, to the value of £47.2 BN by 2018, after a strong drive in SaaS hosting.
SaaS, which is short for ‘Software as a Service’ is a popular element of cloud computing technology. The service enables software developers and independent vendors to deploy their software through the internet, where users can then access it through the internet and pay for it on a subscription based service.
The latest SITS prediction came from TechMarketView’s most recent report “The UK Software & IT Services Market: Trends and Forecasts 2015”, where the organisation warns that suppliers will be facing challenges and may need to change their ways to succeed in the industry:
“As digital transformation services look to shape the direction of the market, technology companies are being forced to overhaul their own business models in a bid to survive; with those technology leaders willing to embrace nimble technologies and new digital services set to make significant gains.”
The report also indicates that there is a trend with smaller, more agile companies ‘disrupting’ the market by rapidly gaining customers and that the larger organisations need to “move outside of their comfort zone” if they wish to remain competitive against them.
Richard Holway, Chairman of TechMarketView commented on the estimated growth of the industry, stating that: “The relatively stable UK SITS market place, where we celebrate a one or two per cent real annual growth rate, might not at first glance seem that inspiring. But, as our report indicates, it will be truly exciting to witness the massive impact that digital disruption has on the space over the next few years.”
To learn more about Software as a Service technology, please contact a member of the team or follow the URL: www.SaaSexperts.co.uk