$4.2 bln spent on software as a service in 2004

Worldwide spending on software as a service (SaaS) reached $4.2 bln in 2004, an increase of 39% over 2003 according to IDC.

Worldwide spending on software as a service (SaaS) reached $4.2 bln in 2004, an increase of 39% over 2003 according to IDC. Worldwide spending on SaaS will continue to increase over the next five years at a 21% compound annual growth rate (CAGR), reaching $10.7 bln in 2009.