Software as a Service (SaaS) Market: Global Industry Analysis and Forecast (2021-2027) Share, Size

Software as a Service (SaaS) Market size was valued at US$ 166.02 Bn. in 2020 and the total revenue is expected to grow at 12.15 % through 2021 to 2027, reaching nearly US$ 370.47 Bn.

Software as a Service (SaaS) Market Overview:

Software as a service (SaaS) is software distributed architecture in which a cloud provider installs a program that offers Internet service to target consumers. Independent software vendors (ISVs) can use this paradigm to negotiate with third-party cloud providers to install their apps. Also, in the case of larger corporations like Microsoft, the cloud provider may also be the software company. The cloud delivery model is used for SaaS. An ISV may contract a cloud provider to host the application and data sources in the provider's data center, or a software provider may host the program and associated files using its own servers, databases, connectivity, and computational services. Software as a Service (SaaS) Market To know about the Research Methodology :- Request Free Sample Report 2020 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysed specially with the impact of lockdown by region.

Software as a Service (SaaS) Market Dynamics:

During the forecast period, the software as a service (SaaS) market is expected to be derived from evolving market business elements, as cloud-based solutions enable enterprises to operate under constantly changing conditions. Economic uncertainty, fierce competition, the increasing popularity of mobile devices, and changing rules, Internet usage, and applications are all examples of dynamic market conditions. These considerations, coupled with growing infrastructure and mature networks, are driving organizations to seek scalable and adaptable solutions, such as SaaS and other cloud-based services, to manage and monitor their operations more effectively. These reasons also encourage companies to outsource applications and save infrastructure costs by using cloud computing services such as SaaS. Mass surveillance and hacking are two risks to data security that have resulted in several data security breaches involving public cloud infrastructures. The cloud service providers' negligence is primarily to blame for these breaches. Additionally, many businesses are concerned about data security when using a third-party vendor. Because vendors have access to an organization's data, firms are concerned about data misuse, which could harm the company's brand. For example, Code Spaces, a former SaaS provider, shut down operations when hackers gained access to their cloud services and stole all of their data, causing significant damage to the company's reputation, finances, and operations. Artificial intelligence is becoming increasingly popular in the SaaS industry. AI in SaaS enables businesses to keep up to date with the latest data, improve user experience through predictive analytics, automate areas where manual processes were previously required, and personalise user interface features. Oracle, for example, a major competitor in the SaaS business, is using AI and machine intelligence to outperform salesforce in the SaaS market. Software as a Service (SaaS) Market 1 The General Data Protection Regulation (GDPR) unifies European Union data security legislation. It contains requirements to protect EU individuals' personal data and privacy in transactions that take place within EU member states. It also governs the export of personal data outside of the European Union. This could lead to the subscriber adhering to GDPR requirements. For example, to comply with the GDPR, Intercom, a US-based SaaS company, is limiting the period it stores data on visits to customers' sites by removing visitor data if a visitor has not been seen for ten months. However, growing data security vulnerabilities, particularly on cloud platforms, are likely to hamper business strategy in the software as a service market over the forecast period.

Among 53 % of organisations, COVID-19 had a slightly positive influence on SaaS spending:

Software as a Service (SaaS) Market 2

Software as a Service (SaaS) Market Segment Analysis:

Based on the Organization Size, the Software as a Service (SaaS) market is sub-segmented into Small and Medium-sized Enterprises (SMEs) and Large Enterprises. The Small and Medium-sized Enterprises (SMEs) segment held the largest market share of 60% in 2020. Organizations can use SaaS to execute their software applications in a virtual environment. IT workers no longer have to purchase or buy expensive software products, which take a long time to install and cost a lot of money. This is taken care of by SaaS in cloud computing, which allows enterprises to work in a virtual, flexible, and reliable cloud environment. In the booming commercial environment, SaaS has brought significant and effective improvements. Many SMEs, however, are still hesitant to implement SaaS solutions, mostly because they are concerned that they will perceive more dangers than benefits. Based on the Application, the Software as a Service (SaaS) market is sub-segmented into Customer Relationship Management (CRM), Human Resource Management (HRM), Financial Management, Sales Management, Enterprise Resource Planning (ERP) and Supply Chain Management. The Customer Relationship Management (CRM) segment held the largest market share of xx% in 2020. SaaS CRM has given SMEs a framework for integrating different business tasks such as sales management, customer management, advertising management, and productivity management into a single application. Regulation and risk management can be simplified with SaaS CRM. As a result, SMEs are enthusiastically adopting it. One of the primary reasons for the market growth of software as a service customer relationship management is the increased usage of SaaS CRM by SMEs (CRM). Software as a Service (SaaS) Market 3

Software as a Service (SaaS) Market Regional Insights:

North America held the largest market share of 57.6% in 2020. As a result of the increased demand for software-as-a-service (SaaS) solutions. The rising use of collaborative solutions such as web conferencing technologies is driving up demand. As a result, during the forecast period, such a trend is likely to grow and maintain its high position. Asia Pacific is expected to grow at a highest CAGR of 29.05% in the global Software as a Service (SaaS) market during the forecast period. In this region, there is a growing usage of SaaS across all industries, particularly in the BFSI sector. The increasing need for cloud computing services in China, combined with the increasing usage of SaaS among government organisations in China, Japan, and India, is propelling the industry in this region forward. The objective of the report is to present a comprehensive analysis of the global Software as a Service (SaaS) Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also helps in understanding the global Software as a Service (SaaS) Market dynamic, structure by analyzing the market segments and project the global Software as a Service (SaaS) Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Software as a Service (SaaS) Market make the report investor’s guide.

Software as a Service (SaaS) Market Scope: Inquire before buying

Software as a Service (SaaS) Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 166.02 Bn.
Forecast Period 2021 to 2027 CAGR: 12.15 % Market Size in 2027: US $ 370.47 Bn.
Segments Covered: by Deployment Mode • Public Cloud • Private Cloud • Hybrid Cloud
by Organization Size • Small and Medium-sized Enterprises (SMEs) • Large Enterprises
by Application • Customer Relationship Management (CRM) • Human Resource Management (HRM) • Financial Management • Sales Management • Enterprise Resource Planning (ERP) • Supply Chain Management
by End-User • Manufacturing • Healthcare • IT & Telecom • Retail • Government • BFSI • Oil & Gas

Software as a Service (SaaS) Market, by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Software as a Service (SaaS) Market Key Players

IBM Corporation • Microsoft Corporation • SAP SE • Oracle Corporation • Salesforce.com, Inc. • Cisco Systems, Inc. • Amazon Web Services Inc. • Hewlett Packard Enterprise • Infor, Inc. • VMware, Inc. • SolutionsDots Systems ltd. • Symantec Corporation • Adobe • Amazon AWS • DocuSign • Zendesk • Dropbox • ADP • Atlassian Confluence • Shopify • Workday • Hubspot

Frequently Asked Questions:

1] What segments are covered in Global Software as a Service (SaaS) Market report? Ans. The segments covered in global Software as a Service (SaaS) Market report are based on Deployment Mode, Organization Size, Application and End-User. 2] Which region is expected to hold the highest share in the global Software as a Service (SaaS) Market? Ans. North America is expected to hold the highest share in the global Software as a Service (SaaS) Market. 3] What is the market size of global Software as a Service (SaaS) Market by 2027? Ans. The market size of global Software as a Service (SaaS) Market is expected to reach US $ 370.47 Bn. by 2027. 4] Who are the top key players in the global Software as a Service (SaaS) Market? Ans. IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, Salesforce.com, Inc. and Cisco Systems, Inc. are the top key players in the global Software as a Service (SaaS) Market. 5] What was the market size of global Software as a Service (SaaS) Market in 2020? Ans. The market size of global Software as a Service (SaaS) Market in 2020 was US $ 166.02 Bn.
1. Global Software as a Service (SaaS) Market: Research Methodology 2. Global Software as a Service (SaaS) Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Software as a Service (SaaS) Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Software as a Service (SaaS) Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Software as a Service (SaaS) Market Segmentation 4.1 Global Software as a Service (SaaS) Market, by Deployment Mode (2020-2027) • Public Cloud • Private Cloud • Hybrid Cloud 4.2 Global Software as a Service (SaaS) Market, by Organization Size (2020-2027) • Small and Medium-sized Enterprises (SMEs) • Large Enterprises 4.3 Global Software as a Service (SaaS) Market, by Application (2020-2027) • Customer Relationship Management (CRM) • Human Resource Management (HRM) • Financial Management • Sales Management • Enterprise Resource Planning (ERP) • Supply Chain Management 4.4 Global Software as a Service (SaaS) Market, by End-User (2020-2027) • Manufacturing • Healthcare • IT & Telecom • Retail • Government • BFSI • Oil & Gas 5. North America Software as a Service (SaaS) Market(2020-2027) 5.1 Global Software as a Service (SaaS) Market, by Deployment Mode (2020-2027) • Public Cloud • Private Cloud • Hybrid Cloud 5.2 Global Software as a Service (SaaS) Market, by Organization Size (2020-2027) • Small and Medium-sized Enterprises (SMEs) • Large Enterprises 5.3 Global Software as a Service (SaaS) Market, by Application (2020-2027) • Customer Relationship Management (CRM) • Human Resource Management (HRM) • Financial Management • Sales Management • Enterprise Resource Planning (ERP) • Supply Chain Management 5.4 Global Software as a Service (SaaS) Market, by End-User (2020-2027) • Manufacturing • Healthcare • IT & Telecom • Retail • Government • BFSI • Oil & Gas 5.4 North America Software as a Service (SaaS) Market, by Country (2020-2027) • United States • Canada • Mexico 6. Asia Pacific Software as a Service (SaaS) Market (2020-2027) 6.1. Asia Pacific Software as a Service (SaaS) Market, by Deployment Mode (2020-2027) 6.2. Asia Pacific Software as a Service (SaaS) Market, by Organization Size (2020-2027) 6.3. Global Software as a Service (SaaS) Market, by Application (2020-2027) 6.4. Asia Pacific Software as a Service (SaaS) Market, by End-User (2020-2027) 6.4. Asia Pacific Software as a Service (SaaS) Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Software as a Service (SaaS) Market (2020-2027) 7.1 Middle East and Africa Software as a Service (SaaS) Market, by Deployment Mode (2020-2027) 7.2. Middle East and Africa Software as a Service (SaaS) Market, by Organization Size (2020-2027) 7.3. Middle East and Africa Software as a Service (SaaS) Market, by Application (2020-2027) 7.4. Middle East and Africa Software as a Service (SaaS) Market, by End-User (2020-2027) 7.5. Middle East and Africa Software as a Service (SaaS) Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Software as a Service (SaaS) Market (2020-2027) 8.1. Latin America Software as a Service (SaaS) Market, by Deployment Mode (2020-2027) 8.2. Latin America Software as a Service (SaaS) Market, by Organization Size (2020-2027) 8.3. Latin America Software as a Service (SaaS) Market, by Application (2020-2027) 8.4. Latin America Software as a Service (SaaS) Market, by End-User (2020-2027) 8.5 Latin America Software as a Service (SaaS) Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 9. European Software as a Service (SaaS) Market (2020-2027) 9.1. European Software as a Service (SaaS) Market, by Deployment Mode (2020-2027) 9.2. European Software as a Service (SaaS) Market, by Organization Size (2020-2027) 9.3. European Software as a Service (SaaS) Market, by Application (2020-2027) 9.4. Latin America Software as a Service (SaaS) Market, by End-User (2020-2027) 9.5. European Software as a Service (SaaS) Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. IBM Corporation 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Microsoft Corporation 10.3. SAP SE 10.4. Oracle Corporation 10.5. Salesforce.com, Inc. 10.6. Cisco Systems, Inc. 10.7. Amazon Web Services Inc. 10.8. Hewlett Packard Enterprise 10.9. Infor, Inc. 10.10. VMware, Inc. 10.11. SolutionsDots Systems ltd. 10.12. Symantec Corporation 10.13. Adobe 10.14. Amazon AWS 10.15. DocuSign 10.16. Zendesk 10.17. Dropbox 10.18. ADP 10.19. Atlassian Confluence 10.20. Shopify 10.21. Workday 10.22. Hubspot

About This Report

Report ID 60595
Category Information Technology & Telecommunication
Published Date April 2020
Updated Date Dec 2021
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