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Report: SaaS market to grow by 18 percent in 2012

As cloud computing matures, more businesses are taking advantage of the technology to improve efficiency and mobility without sacrificing cost. According to a new report by research firm Gartner, the global Software-as-a-Service market is expected to grow up nearly 18 percent in 2012, compared to 2011, and generate more than $14 billion revenue.

North America and the United States represent the areas with the largest potential for SaaS growth, mostly driven by the expanding mobile workforce. Gartner noted that this region alone will generate more than $9 billion in revenue in 2012, up from $7.8 billion in 2011.

"After more than a decade of use, adoption of SaaS continues to grow and evolve regionally within the enterprise application markets," Gartner research director Sharon Mertz said. "Increasing familiarity with the SaaS model, continued oversight on IT budgets, the growth of Platform-as-a-Service developer communities and interest in cloud computing are now driving adoption forward."

According to a recent report by Cloud Industry Forum, more than 76 percent of U.S. businesses use at least one cloud service. The largest corporations and the smallest firms are the most common companies to deploy the cloud because of flexibility and cost saving benefits.

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