Global Software-as-a-service (SaaS) Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2027, at CAGR of 21.XX% during forecast period of 2019 to 2027.
Global Software-as-a-service (SaaS) Market Overview:
Software-as-a-service (SaaS) has become the first choice of organizations to be incorporated into the strategy of nearly all leading enterprise software companies worldwide. It eliminates the need to install and run applications on computers or in data centers, which reduces the need for hardware acquisition, provisioning and maintenance and software licensing, installation and support. As these many tasks gets reduced, it has become the most effective cost cutting tool for an organization. Hence the SaaS market is anticipated to grow at CAGR of 21.XX% during the forecast period.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The growth of SaaS technologies market has reached revenue figures of $86.XX billion by the end of 2018. This growth, of an XX.XX% increase from previous years, which accounts for a huge growth in revenues and forecasted to reach US$ XX.XX billion by the year 2027.
The overall growth of the SaaS industry will experience rapid growth through these years as most of the companies adopt SaaS solutions for a variety of business functions, not limited to core engineering and sales applications. The SaaS cloud application services market segment will reach $1XX.X1 billion by end of the 2027.
In recent years, The Global Software-as-a-service (SaaS) Market has witnessed the drastic growth in the number of users of SaaS products. Users are not just the small firms but also large enterprises using SaaS technologies to empower their business with several Saas benefits. However, research finds that organizations with over 250 employees use over 100 SaaS apps, while small firms of up to 50 employees use up between 25-50 SaaS solutions on an average. Though, the growth of the SaaS market is contributed by organizations of all sizes. The growth is registered by both internal requirements attributed to tooling-focused product development approaches such as Agile and DevOps as well as the growing availability of useful SaaS products in the enterprise IT market segment.
The issues relating to data security, lack of integration and the need for uninterrupted and high-speed internet connectivity create limitations to the growth of the SaaS industry. The complications involved in direct access to data, generates a high level of complexity in combining legacy on premise systems, cloud applications and multiple SaaS applications.
The Global Software-as-a-service (SaaS) Market dynamics are thoroughly studied and explained in the report, which helps reader to understand emerging market trends, drivers, restraints, opportunities, and challenges at global and regional level for the Global Software-as-a-service (SaaS) Market.
Global Software-as-a-service (SaaS) Market is studied by Various Segments:
The analysts at Maximize Market Research have done an extensive research for the Global Software-as-a-service (SaaS) Market and provides the report with detail study of the market by various segments and by region:
Global Software-as-a-service (SaaS) Market by Vertical
• It &Telecommunication
Global Software-as-a-service (SaaS) Market by Deployment
• Public Cloud
• Private Cloud
• Hybrid Cloud
Global Software-as-a-service (SaaS) Market by Applications
By vertical, the Global Software-as-a-service (SaaS) Market can be segmented into banking, financial services and insurance (BFSI), information technology (IT) and telecommunication, manufacturing, retail, healthcare, education and others. The BFSI segment contributes the largest market value share in the vertical segment, and the manufacturing segment will be growing at a significant CAGR of XX.XX% during the forecast period.
The Global Software-as-a-service (SaaS) Market is segmented based on the deployment model, which is further sub segmented into public cloud, private cloud and hybrid cloud. The private cloud and public cloud models are expected to bring positive trend in the market, by reaching to estimated value of US$ XX.XX Mn by maintaining CAGR of XX.XX%. Simultaneously, many companies are trying to employ the hybrid cloud model, may bring moderate growth in this segment.
Depending on application, the SaaS market can be divided into enterprise resource planning (ERP), customer relationship management (CRM), human resource management (HRM), supply chain management (SCM), and others. Other application types include web conferencing platforms, messaging applications and collaborations. The segment CRM plays a significant role and has the largest market share of US$ XX.XX Mn in SaaS Market.
Software-as-a-service (SaaS) is a kind of cloud computing in which a third-party provider manages applications and makes them accessible to consumers over the internet. SaaS apps are typically accessed by a web browser. SaaS has emerged as a corporate delivery model for several business applications, including numerous workplace software, messaging software, DBMS software, management software, payroll processing software, CAD software, development software, virtualization, accounting, collaboration, customer relationship management (CRM), Management Information Systems (MIS), enterprise resource planning (ERP), invoicing, human resource management (HRM), talent acquisition, learning management systems, content management (CM), Geographic Information Systems (GIS), and service desk management.
Global Software-as-a-service (SaaS) Market Region wise Market Analysis & Forecast:
The report covers a geographic breakdown and a detailed analysis of each of the segments across region North America, Europe, Asia Pacific, and LAMEA.
• North America
Rest of Europe
• Asia Pacific
Rest of Asia-Pacific
By region, North America has the largest market share in the global SaaS market and holds the market value of US$ XX.XX Mn in 2018. The main reason of rapid growth is the exponential usage of SaaS-based solutions such as human capital management (HCM), emails, office suites and web conferencing. Asia-Pacific is anticipated to be the fastest growing region for the SaaS market with CAGR of XX.XX%, owing to the increasing number of SaaS vendors who provide continuous marketing, support and sales services to their clients.
Global Software-as-a-service (SaaS) Market: Competition Landscape
The Global Software-as-a-service (SaaS) Market consists of a large number of players. Furthermore major players in the Global Software-as-a-service (SaaS) Market are concentrating on developing new technologies to facilitate the industry with lowest time and low expenditure consuming technologies. In the recent years there are many discoveries in the field of technologies with regards to Global Software-as-a-service (SaaS) Market, which in turn will help the industry to grow resulting in boost to the competition too. Detailed analysis of competition, new entrants, strategic alliances, mergers and acquisition in the Global Software-as-a-service (SaaS) Market is covered in the report. The report covers the market leaders and followers in the industry with the market dynamics by region. It will also help to understand the position of each player in the market by region, by segment with their expansion plans, R&D expenditure and organic & in-organic growth strategies. Long term association, strategic alliances, supply chain agreement and mergers & acquisition activities are covered in the report in detail from 2014 to 2019. Expected alliances and agreement in forecast period will give future course of action in the market to the readers. All major & important players are profiled, benchmarked in the report on different parameters that will help reader to gain insight about the market in minimum time.
Global Software-as-a-service (SaaS) Market Company Profiles –
The major players operating in the Global Software-as-a-service (SaaS) Market, analyzed in the report are:
• Symantec Corporation,
• Google Inc.,
• Fujitsu Ltd.,
• Amazon.com Inc.,
• IBM Corporation,
• Oracle Corporation,
• SAP SE,
• Microsoft Corporation,