The global software-as-a-service-based ERP market will grow at a compound annual growth rate of 24.6 percent, according to the report, which identifies the key vendors dominating this market as NetSuite, SAP, Oracle, Microsoft, Aplicor, and Intacct.

TechNavio’s analysts forecast the global salesforce automation software market to grow at a CAGR of 10.1 percent. One of the key factors contributing to this market growth is the ability to increase the overall efficiency of the sales cycle. The report identifies Oracle, Salesforce.com, and Microsoft as the key vendors in this space.

The report notes that both technologies have been witnessing increased adoption by companies of all sizes, especially when it comes to SaaS-based deployments.

No doubt  SaaS deployments are fast and easy, and keep initial costs low by requiring little to no hardware or other capital expense. But still, one can’t help but think that security issues with SaaS-based applications could pose a challenge to future growth. Industry leaders should also look for increasing competition from open-source vendors.