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The Global Software as a Service (SaaS) Market size is expected to reach $185.8 billion by 2024, rising at a market growth of 21.4% CAGR during the forecast period. Software as a Service is a model in which software and other associated data is hosted centrally and accessed with the help of a web browser. The software as a service model allows users to gain access to various components and features of software with the help of a subscription model and without the need for worrying about product licenses. The comprehensive change in the way of perceiving communication is the key factor responsible for the development of SaaS solutions. The major use of instant messaging and social medical has led to adoption of SaaS across enterprises. The emergence and penetration of messaging applications, emails, and video calls for private and business needs have made the end users to depend on smartphones and tablets. Therefore, growing number of end users are looking for remote access at affordable costs, as a result, influencing the demand for SaaS solutions.
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Based on Deployment Type, the market is segmented into Public Cloud, Private Cloud, and Hybrid Cloud. Based on Type, the market is segmented into Customer Relationship Management, Supply Chain Management, Business Intelligence, Enterprise Resource Planning, Web conferencing, Content Management System, Enterprise Asset Management, Business Process Management, and Others. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into Manufacturing, BFSI, Healthcare, Retail, Government, Oil & Gas, Telecom, Education, Professional Services and Other End User. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hewlett Packard Enterprise Company, Microsoft Corporation, Oracle Corporation, IBM Corporation, SAP SE, Infor, Avaya, Salesforce.com, Inc., Google Inc., and Epicor Software Corporation.