On-premise software vendors are incorporating cloud-like business models and subscription-based pricing that make them more competitive and best meet the needs of their customers. Adobe, Autodesk, and Microsoft have all adopted hybrid (on-premise and SaaS) deployment models to adapt, compete, and succeed. And while the cloud computing market is expected to grow at a compounded annual growth rate (CAGR) of 22.3 percent between 2018 and 2023 and cloud computing revenues are predicted to see revenues soon exceed $250 billion, on-premise software will continue to represent a significant opportunity, as customers adopting a mix of web-based and on-premise applications.
Competition in the software industry has never been greater. Software market revenue worldwide is expected to be $507.2 billion by 2021 – representing 26% growth since 2016. As vendors of “traditional” on-premise applications have seen the booming and disruptive growth of SaaS vendors, they are mapping a dramatic change to the way they do business.
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