Gartner predicts SaaS revenues to reach $85 billion in 2019

Globally speaking, Gartner predicts that by 2021, cloud revenues will total $278 billion.

Gartner released its latest cloud forecast on Wednesday, predicting 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.

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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.

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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.

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"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."

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