Worldwide spending on enterprise application software will grow 7.5% to reach $149.9 billion this year, increasing to more than $201 billion by 2019, according to the latest forecast from Gartner Inc. The firm says long-term growth in the market will involve plenty of SaaS solutions and analytics software.

"The majority of spending is going towards modernizing, functionally expanding or substituting long-standing business and office applications with cloud-based software-as-a-service," Bianca Granetto, research director at Gartner, said in a statement.

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