A method, system and computer program product for dynamically quantifying a demand for the software components deployed in a cloud environment. An administrative server generates a table mapping the software levels of the software components of the deployed software stacks with the number of instances of the deployed software stacks tracked over a period of time. The depth weight based on subtracting a depth index (zero-based) from a depth size is calculated for each software component, where a depth index refers to the software level of the software component in question and a depth size refers to the number of software levels for the software stack bearing the software component in question. A metric used in quantifying the demand for the software component (“popularity index”) is then determined for each software component based on the number of deployed instances and the depth weight for that software component.