Software as a Service (SaaS) Market Research Report

 

Software as a Service (SaaS) Market

The Software as a Service (SaaS) market is increasing at a sustainable rate over the forecast period starting from 2020 till 2027. As per the SaaS market research, the rising utilization of smartphones, tablets, and laptops, followed by the accelerating adoption of public and hybrid cloud, are the two major factors that are contributing to the market growth during the forecast period.

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Software as a Service refers to a software delivery model that is hosted by a third-party provider who provides accessibility to the application via the internet browser. SaaS organization provides access to its software, mainly using an application or website. Software as Service applications are also called the hosted software, Web-based software, and on-demand software.

The significant factors surging the growth of the global Software as a Service market include the growing usage of smartphones, tablets, and laptops, the accelerating adoption of public and hybrid cloud, along with the increasing business outsourcing. In addition to this, the rising penetration of instant messaging applications, emails, and video calls is further boosting the demand for smart devices such as smartphones and tablets among the end-users. The strong demand among the consumers who are looking for software with remote access option at a lower price, is one of the merging SaaS industry trend that will support the market growth.

The increasing usage of mobile apps for food delivery, payments, and healthcare services will propel the demand for SaaS-based mobile apps as they are highly cost-efficient and easy to use. Furthermore, the emerging trend of business outsourcing and rapid globalization is motivating organizations to expand their global footprint to meet the changing demand of the target audience. Numerous companies are looking for reliable business data software to improve their workforce investment strategies and to discover potential problems and their solution, thus surging the SaaS industry growth.

The rising adoption and integration of Artificial intelligence (AI) with SaaS due to its ability to enhance security level and various other features such as easy customization at minimal cost will attract a new consumer base towards the market. SaaS provides numerous remarkable advantages such as lower license costs of hardware and software, decreases the time spent in installation and configuration. It also offers higher scalability, compatibility, accessibility, and easy installation and up-gradation features. All these factors are boosting the growth of the SaaS market share in terms of revenue. On the other hand, the rising data security concerns and complexity with regulation compliance are likely to hinder the market growth.

The largest SaaS companies of the Software as a Service (SaaS) Industry:

·        IBM Corporation

·        Microsoft Corporation

·        SAP SE

·        Oracle Corporation

·        Salesforce.com, Inc.

·        Cisco Systems, Inc.

·        Amazon Web Services Inc.

·        Hewlett Packard Enterprise Development LP

·        Infor, Inc.

·        VMware, Inc.

·        SolutionsDots Systems ltd.

·        Symantec Corporation,

Market Segmentation:

Software as a Service (SaaS) Market Report Segment by End-user:

·        Manufacturing

·        Healthcare

·        IT & Telecom

·        Retail

·        Education

·        Government

·        BFSI

·        Oil & Gas

Software as a Service (SaaS) Market Report Segment by Application:

·        Customer Relationship Management (CRM)

·        Human Resource Management (HRM)

·        Financial Management

·        Sales Management

·        Enterprise Resource Planning (ERP)

·        Supply Chain Management

Software as a Service (SaaS) Market Report Segment by Deployment Type:

·        Public Cloud

·        Private Cloud

·        Hybrid Cloud

Software as a Service (SaaS) Market Report Segment by Organization Size:

·        Small and Medium Enterprises

·        Large Enterprises

Software as a Service (SaaS) Market Report Segment by Region:

·        North America

o   United States of America

o   Canada

 

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a full-service market research and business-consulting organization that offers global as well as medium and small businesses with bespoke industry and market analysis to help them in making the toughest business decision. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use not only the internal but also the external databases to cull out relevant information of the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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