Oracle is known as one of the top companies in the cloud computing space. Over the past year alone the company has made many moves to solidify its spot, such as unveiling a new hybrid cloud service.

Larry Ellison has reason to believe that his company will be first to reach $10 billion in combined platform-as-a-service and software-as-a-service. During the company’s fourth-quarter earnings call he said, “We think we’re going to be the first one there.”

Competition is Hot

Of course, there is a big difference between saying and doing. Oracle is well on its way to this mark, but there are other companies, most notably Salesforce.com, that are growing at a fast rate.

Salesforce.com CEO Marc Benioff has made it clear to investors that the goal is to reach $10 billion in revenue. Furthermore, he said the company is closing in on that goal.

During the last quarter alone, SaaS alone generated $1.92 billion, which was an increase of nearly 30 percent year over year.

How does this compare to Oracle? During the same period, the company “only” generated $690 million in revenue for its PaaS and SaaS businesses. In other words, Oracle has some catching up to do.

While the battle between Oracle and Salesforce.com is one to watch, don’t overlook the fact that other companies, including Microsoft and Amazon, are also vying to become the first $10 billion cloud computing company.

In Oracle’s fourth quarter earnings release, Ellison told investors that he expects the “SaaS and PaaS hypergrowth we experienced in FY16 will continue on for the next few years.” If this happens, Oracle, among others, are in position to continue to grow at a rapid pace.

There is a lot going on in the cloud, with Oracle one of the many companies out in front. It’ll be interesting to see how things play out as 2016 comes to an end and the calendar turns.

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