The SaaS market in Australia and New Zealand will be worth $772 million in 2012, up from $175 million in 2008, according to Springboard.
This represents a CAGR of 45%, the research firm said.
The ANZ SaaS market is the most mature in the APAC region, Springboard said, with 77% of IT professionals reporting being 'very familiar' with the technology paradigm.
“Already a mature SaaS market, ANZ is expected to continue on its growth path as businesses of all sizes recognize the value of on-demand solutions for meeting business requirements,” Springboard vice president for software research Michael Barnes said.
CRM is the most popular SaaS application in ANZ, with payroll applications also seeing strong demand.