Global Software As a Service (SaaS) Market, By Deployment Type(Public Cloud, Hybrid Cloud, Private Cloud), By Organization Size (SMEs, Large Enterprises), By Application (Customer Relationship Management, Human Resource Management, Financial Management, Sales Management, Enterprise Resource Planning, Supply Chain Management), By End-User (Manufacturing, Healthcare, IT & Telecom, Retail, Education, Government, BFSI, Oil & Gas), By Region, Forecast & Opportunities, 2026
Global Software as a Service (SaaS) market is expected to grow at a double digit CAGR during the forecast period. Software as a Service (SaaS) comprises of a model in which software and other associated data is hosted centrally and customers can access it with the help of web browser. This model allows user to gain access to various features of a software with the help of a subscription model and without worrying about the product licenses. The emergence of messaging applications, emails and video calls have made the end users to depend on smartphones, therefore people are looking for remote access at reasonable costs, thereby driving Software as a Service (SaaS) market, globally. Also, the rising use of mobile apps for food delivery, payments, and healthcare services is expected to increase the demand for SaaS based mobile apps. The growing trend of business outsourcing and globalization is encouraging enterprises to expand themselves to capture the increasing demand from customers. The growing data security concerns and complex regulation compliance might hamper the growth of the market.
Global Software As a service (SaaS) market is segmented based on deployment type, organization size, application, end-user and region. Based on deployment type, public cloud segment dominated the market in 2020. The major reason for their dominance is their cost-effectiveness, and also the fact that they are easy and quick to integrate, eliminate the maintenance cost and enhance security. Based on organization size, SMEs segment is expected to account for the largest share until 2026 as it offers maximum benefit to SMEs by reducing the hardware and software costs and eliminates the licensing and maintenance charges. Based on application, the human resource management segment is expected to account for the dominant share through 2026 as SaaS based human resource application provides a systematic management to all the HR based activities such as employee attendance management, notices and announcements, employee tracking and recruitment.
Regionally, North America dominated the global software as a service (SaaS) market and the trend is expected to continue until 2026. The rising demand for cloud computing related activities and growing adoption of SaaS among various government organizations is responsible for the growth in software as a service (SaaS) market of North America.
Major players operating in the global software as a service (SaaS) market include IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, Salesforce.com Inc., Cisco Systems, Inc., Amazon Web Services Inc., Alphabet Inc., Hewlett Packard Enterprise Development LP, VMWare Inc. The companies operating in the market are using both inorganic and organic strategies to increase their share in the market.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
- To analyze and estimate the market size of global Software as a Service (SaaS) market from 2016 to 2020.
- To estimate and forecast the market size of global Software as a Service (SaaS) market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast global Software as a Service (SaaS) market based on type of deployment, organization size, application, end-user, company and regional distribution.
- To identify dominant region or segment in the global Software as a Service (SaaS) market.
- To identify drivers and challenges for global Software as a Service (SaaS) market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global Software as a Service (SaaS) market.
- To identify and analyze the profile of leading players operating in global Software as a Service (SaaS) market.
- To identify key sustainable strategies adopted by market players in global Software as a Service (SaaS) market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global Software as a Service (SaaS) market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Software as a service provider companies, vendors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to software as a service (SaaS)
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, vendors, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global Software as a Service (SaaS) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Global Software as a Service (SaaS) Market, By Deployment Type:
- Public Cloud
- Private Cloud
- Hybrid Cloud
- Global Software as a Service (SaaS) Market, By Organization Size:
- Large Enterprises
- Global Software as a Service (SaaS) Market, By Application:
- Customer Relationship Management
- Human Resource Management
- Financial Management
- Sales Management
- Enterprise Resource Planning
- Supply Chain Management
- Global Software as a Service (SaaS) Market, By End-User:
- IT & Telecom
- Oil & Gas
- Global Software as a Service (SaaS) Market, By Region:
- North America
- United States
- United Kingdom
- South Korea
- Middle East & Africa
- South Africa
- Saudi Arabia
- South America
Company Profiles: Detailed analysis of the major companies present in global Software as a Service (SaaS) market.
- Detailed analysis and profiling of additional market players (up to five).
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