Absolutely, so long as you mean 'in the alleged era of' rather than 'in the market of', of course.
But the fact lots of people still have DC's, or host stuff on their office server, or don't want other organisations outages to be their outages, or be exposed to billing tomfoolery, easy integration with other internal systems without blowing myriad holes through their firewalls, (etc) means there's still a market for on-premises software.
