Revenues generated from enterprise software-as-a-service will reach $53.5 billion in 2018, representing 59 percent of the enterprise public cloud computing market, and rising from $23.2 billion in 2013, according to a new report from Juniper Research.

The report, “Cloud Computing – Enterprise Markets: SaaS, PaaS & IaaS, 2014-2018,” says SaaS will remain the dominant cloud model. This is due partly to the relative maturity and widespread acceptance of the model, as well as recognition of the comparative benefits and risks of commissioning cloud-based software, the report notes.

The study says enterprise adoption of platform-as-a-service and infrastructure-as-a-service offerings has been adversely affected by concerns over data security, compliance and portability. Nevertheless, both PaaS and IaaS will experience significant growth over the forecast period as new applications — developed specifically for the cloud to harness workloads such as big data analysis — benefit from a PaaS “fast-track” model.

Service providers are increasingly providing multi-lingual support and consolidating PaaS as an extension of other cloud services. Meanwhile, the report says, IaaS is becoming increasingly attractive to small and medium sized businesses and enterprises alike, owing to a high level of control over the software stack and security implementation.

The report cautions that “due diligence is essential for potential customers to establish if, and what, services can be deployed in the cloud.”