Having already evolved through two successive waves of adoption and service delivery, SaaS is entering the third wave - characterized by an increased focus on mission-critical business processes, customized and personalized workflows, and collaboration. Departmental and niche solutions are increasingly giving way to broader enterprise requirements as users increasingly grasp SaaS' evolving role as a key platform to address "core" business solutions. Understand the key market trends in SaaS, and build a scenario for how SaaS is likely to evolve over the next three to five years toward its ultimate destination - cloud computing.