Enterprise Apps Worth $120 Billion This Year, Says Gartner

All Things D: The market analysts at Gartner believe businesses will spend more than $120 billion on enterprise software this year. That’s slightly lower than previous predictions due to the turmoil in Europe, but it’s still a 4 percent increase over last year. The top categories for enterprise software spending include ERP ($25 billion), office suites ($16.5 billion), business intelligence ($13 billion) and CRM ($13 billion).

Despite all the hype about cloud computing, Gartner says that SaaS still accounts for a fairly small piece of the pie. In 2010, cloud spending accounted for 11 percent of the enterprise application market, and by 2016, that will grow to 16 percent.