The Global SAAS Market was valued at USD 130.69 Billion in the year 2021. Organizations are expanding their boundaries to offer services to clients all over the world as a result of rising corporate outsourcing and globalization. Organizations need reliable business data in order to improve their workforce investment strategies and identify potential issues and their causes. The widespread usage of social media and instant messaging has prompted many businesses to adopt SaaS. To achieve cost efficiency and business continuity, the pandemic has encouraged the use of on-demand, scalable cloud models. It is giving enterprises the impetus they need to expedite their digital business transformation initiatives. As a result, the use of SaaS and other cloud computing solutions is expanding.
Based on End User, the market is segmented into BFSI, Retail, Education, Healthcare, IT & Telecom and Others. The BFSI segment is expected to grow at a higher CAGR during the forecast period as the investment in SAAS Market is growing by this segment.
North America is estimated to hold the maximum share in the global SAAS Market in 2021. During the forecast period, Asia-Pacific is set to be the fastest-growing regional market. Furthermore, Asia-Pacific is seeing huge growth as a result of a variety of factors. Several factors have contributed to the rapid growth of SAAS markets in Asia-Pacific. As businesses throughout the world use SaaS solutions for a number of business operations, the overall SaaS industry is likely to continue to rise. Customer resource management (CRM), corporate resource planning (ERP), web hosting, and eCommerce are just a few of the services available.
The growing use of smartphones, tablets, and laptops, increased public and hybrid cloud adoption, and increased corporate outsourcing are the key drivers of SaaS market size. Another factor driving market growth over the projection period is the increasing adoption of micro SaaS. As more organizations across the region aim to shift their IT infrastructure to the cloud, boost business operations, and improve processes. CRM segment is anticipated to hold around 34.96% of the global market share in the year 2027.
Scope of the Report
- The report analyses the SAAS Market by Value (USD Billion)
- The report presents the analysis of SAAS Market for the historical period of 2017-2021 and the forecast period of 2022-2027
- The report analyses the SAAS Market by End User (BFSI, Retail, Education, Healthcare, IT & Telecom, Others)
- The report analyses the SAAS Market by Application (Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Resource Management (HRM), Supply Chain Management (SCM), Others)
- The report analyses the SAAS Market by Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud)
- The report analyses the SAAS Market by Enterprise size (SME, Large)
- The Global SAAS Market has been analysed by Countries (United States, Canada, United Kingdom, Germany, France, Italy, Japan, China, India, South Korea)
- The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by End User, by Application, by Deployment Model, by Enterprise Size.
- Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include – Microsoft Corporation, Salesforce, SAP SE, Oracle Corporation, Alphabet Inc., Adobe Inc., ServiceNow, Cisco Systems, Inc., Amazon.com, Inc., DocuSign, Inc.
Key Target Audience
- SAAS Market Players
- IT/ITES Companies
- Consulting and Advisory Firms
- Government and Policy Makers
- Regulatory Authorities