SAP has announced plans to increase revenue to at least $30 billion by 2017, with its cloud businesses providing increasing profits for the software giant.

Cloud services alone are expected to generate around €2 billion by 2015 as uptake of the technology.

SAP has announced a 4 per cent revenue increase from 2012, with total revenue in 2013 of €16.8 billion.

Rapid growth in cloud services and expected increasing demand in support services will deliver ever increasing revenue growth towards 2017 according to SAP predictions.

Cloud market revenue to reach nearly $20 billion by 2016