July 20166 Editor-in-ChiefManaging EditorSales Mailing AddressTo subscribe to APACCIOOutlookVisualizersAPACCIOOutlook44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538Visit www.apacciooutlook.comPraveen C PStephen ThomasLarry KohenRachi V SharmaCopyright © 2016 ValleyMedia Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.July 01 2016, Volume 2 SE 33 Published by ValleyMedia Inc.Sandra Lopezsandra@apacciooutlook.com852-8191-6185Editorial StaffAniruddhRandy GomesSaheli Roy ChowdhuriSelena JamesStephanie MazueraSuraj PandaEditorialAccording to a report by IDC, the cloud software market reached $48.8 billion in revenue in 2014, representing a 24.4% YoY growth rate. The report also estimated that cloud software will grow to surpass $112.8 billion by 2019 at a compound annual growth rate (CAGR) of 18.3%. If these figures are anything to go by then it is safe to say that cloud computing is here to stay. The widespread adoption of cloud based applications has caused a paradigm shift in the way IT is consumed in a modern enterprise. Organizations have started gravitating towards public cloud based offerings instead of going for on-premises licensed software, a trend that has fuelled the global SaaS market. Cloud based applications are expected to outpace traditional software product delivery, growing nearly five times faster than the traditional software market and becoming a significant growth driver to all functional software markets. By 2019, the cloud software model will account for $1 of every $4.59 spent on software.Having identified the need of tomorrow's enterprise, several software vendors are transitioning their business models from on-premises licensed software to public cloud-based offerings. The market also witnessed the entry of some major software vendors into the public cloud last year. The APAC market, which has been on an upward growth trajectory for the past few years, has also taken well to this growing need for SaaS based solutions. A report by MarketsandMarkets estimated the APAC SaaS market to be worth $4321 million in 2015. Vendors in the APAC region are rising to the occasion and have been providing out of the box SaaS solutions to enterprises. In a bid to help enterprises find the right SaaS solution provider our current edition features a list of 25 Most Promising SaaS Solution Providers.Do let us know your thoughts.Rachi V SharmaManaging Editoreditor@apacciooutlook.comCloud Based Applications Expected To Outpace Traditional Software Product Delivery
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