Analysts Predict SaaS Revenues to Reach $85 Billion in 2019
PALM BEACH, FL -- May 22, 2019 -- InvestorsHub NewsWire -- via FinancialNewsMedia.com -- Gartner, a leading research and advisory company, has recently issued a report on the SaaS and global cloud markets. Gartner defines software as a service (SaaS) as software that is owned, delivered and managed remotely by one or more providers. The provider delivers software based on one set of common code and data definitions that is consumed in a one-to-many model by all contracted customers at anytime on a pay-for-use basis or as a subscription based on use metrics. In its report it predicted that: "the market will grow 17.3 percent in 2019. The fastest-growing segment -- cloud system infrastructure services, or infrastructure as a service (IaaS) -- is forecasted to grow 27.6 percent in 2019. By 2022, Gartner expects that 90 percent of organizations purchasing public cloud IaaS will do so from an integrated IaaS and platform as a service (PaaS) provider, and will use both the IaaS and PaaS capabilities from that provider. When it comes to the business process as a service (BPaaS) category, Gartner expects to see revenue grow 7.9 percent to $50.3 billion in 2019. Globally speaking, Gartner predicts that by 2021, cloud revenues will total $278 billion." Active Companies from around the tech market with current developments this week include: Zevotek, Inc. (OTC: ZVTK), salesforce.com, inc. (NYSE: CRM), CyberArk Software Ltd. (NASDAQ: CYBR), Oracle Corporation (NYSE: ORCL), Symantec Corporation (NASDAQ: SYMC).
The report continued: "Meantime, cloud application services -- or software as a service (SaaS) -- remains the largest segment of the cloud market, with revenue expected to grow 17.8 percent to reach $85.1 billion in 2019. The increasing adoption of SaaS applications and other cloud services impacts the management, dissemination and exploitation of enterprise content," Craig Roth, research VP at Gartner. "Organizations are steadily -- but not exclusively -- shifting their content environments to SaaS."
Zevotek, Inc. (OTCPK: ZVTK) BREAKING NEWS: Zevotek today published an online presentation to introduce its first to market software as service (SaaS) product specifically targeting a $435 million segment of an $85 billion market. ZVTK's first to market SaaS solution is developed by DALOS and it uniquely provides automated service agreement renewals for the array of multimillion-dollar service contracts surrounding industrial and technological equipment. Tight competition between manufacturers has made profit margins micro-thin and made efficient service contract maintenance ever more vital. DALOS from ZVTK provides manufacturers, their distributors and VARs with new service contract renewal capabilities and efficiencies that can maximize profits and even capture otherwise missed revenue opportunities. DALOS integrates leading CRM and ERP solutions to include Oracle and SAP across hardware solutions that include those from HP, Dell and Samsung, to name only a few CRM, ERP and hardware compatibilities. ZVTK has targeted a $435 million segment of the overall $85 billion B2B SaaS market that crosses multiple industries. Learn more by reviewing ZVTK's online presentation on DALO: ZVTK's DALOS SaaS PRESENTATION Read this and more news for ZVTK at: https://www.financialnewsmedia.com/news-zvtk/
In the software/tech industry developments and happenings in the market:
salesforce.com, inc. (NYSE: CRM) the global leader in CRM, recently announced it is signing the White House Pledge to America's Workers and pledging to give 500,000 Americans the skills they need to earn Salesforce credentials and get top jobs in the Salesforce ecosystem over the next five years. Through Trailhead, Salesforce's free online learning platform, anyone can acquire the in-demand tech skills needed for the jobs of today and tomorrow, including Salesforce administrator, Salesforce developer, Salesforce marketing manager and more. The pledge will be signed as part of the company's inaugural Trailblazer Day, a celebration of the people who are changing their lives and careers with Salesforce.
CyberArk Software Ltd. (NASDAQ: CYBR) the global leader in privileged access security, recently announced strong financial results for the first quarter ended March 31, 2019. "We were pleased to deliver results ahead of all guided metrics as well as record cash flow from operations," said Udi Mokady, CyberArk Chairman and CEO. "Our results demonstrate that Privileged Access Security is the foundation of comprehensive cybersecurity programs. As the leader in the market, organizations of all sizes and industries are turning to CyberArk as a trusted advisor to secure digital transformation and cloud migration strategies. As we look at the remainder of 2019 and beyond, we are committed to delivering sustainable growth, strong profitability and continual innovation to secure privileged access across on-premises, hybrid and cloud environments.
Oracle Corporation (NYSE: ORCL) To help organizations design and operate efficient and agile supply chains, Oracle recently announced a series of logistics management updates to Oracle Supply Chain Management (SCM Cloud. The updates include a new logistics network modeling product and enhanced transportation management and global trade management capabilities. The latest innovations can help customers drive better business outcomes by enhancing supply chain responsiveness, optimizing shipments and asset utilization, and improving productivity across global supply chains.
"Expectations are not only increasing, they also are constantly evolving. To meet these demands, organizations need customer-driven supply chains that deliver the agility required to rapidly respond," said Derek Gittoes, vice president, SCM Product Strategy, Oracle. "Disruptions due to customer demand volatility, new product introductions, government regulation changes, and a host of other factors, leave supply chain professionals struggling to adapt. To eliminate this guessing game of how best to respond, we are giving our customers the insights they need to improve decision making and increase efficiency of logistics operations."
Symantec Corporation (NASDAQ: SYMC) recently announced it has been positioned by Gartner, Inc. in the Leaders quadrant of the Q2 2019 Magic Quadrant for Managed Security Services, Worldwide for the 15th time since the report's inception in 2005. The Managed Security Services report evaluated 14 vendors based on completeness of vision and ability to execute against 15 criteria. According to the report, "For other organizations that have little to no security team and a lower security operations maturity, the expectations are that the MSSP will do more than just issue an alert and let the customer fend for itself. They need the MSSP to take an active role in analyzing, triaging, and then disrupting or containing the threat, i.e., they need the MSS to act as a first-level incident responder for them."
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