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, Content Communication & Collaboration, Business Intelligence/Analytics, Enterprise Resource Planning, Supply Chain Management & Others), By End User (Manufacturing, Healthcare, IT & Telecom, Retail, Education, Government, BFSI, Oil & Gas), By Region, Competition Forecast and Opportunities, 2027
The global Software as a Service (SaaS) Market stood at USD149.07 billion in 2021 and is expected to grow at a CAGR of 19.31% in the forecast period, to reach USD441.26 billion by 2027. Increasing investments for the development of IT infrastructure by leading authorities and market players, growing internet penetration and rise in the demand for data backup and security to protect critical information are the primary factors driving the growth of global Software as a Service (SaaS) market in the forecast period.
Rapid digitalization of organizations is generating large volume of data. The cost-saving benefits of convenience of using the digital technology is proliferating the demand for various type of software for different purposes. Software as a Service saves the software applications and critical information on cloud platform which eliminates the need to invest in purchasing and maintaining local infrastructure. They remove the need to manually back-up the data by allowing timely backups which ensures the data integrity and security in an organization. However, high implementation costs and difficulty in integrating hybrid infrastructure may hinder the growth of global Software as a Service (SaaS) market in the forecast period.
The global Software as a Service (SaaS) market is segmented on the basis of deployment type, organization size, application, end user, and regional distribution. Based on the deployment type, the market is divided into public cloud, hybrid cloud and private cloud. The public cloud segment is expected to hold the largest market share in the forecast period, 2023-2027. Public cloud offers several advantages such as high flexibility, scalability, no maintenance costs and have lower complexity than the other cloud models. The growing advancements in technology and the rise in the number of vendors offering are supporting the adoption of public cloud by organizations.
The top players operating in global Software as a Service (SaaS) market are Salesforce.com, Inc., SAP SE, Amazon Web Services Inc., Alphabet Inc., Workday Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, VMware Inc., Hewlett Packard Enterprise Development LP, Adobe Inc., and Cisco Systems Inc.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F–2027F
Objective of the Study:
- To analyze the market size of global software as a service (SaaS) market from 2017 to 2021.
- To estimate and forecast the market size of global software as a service (SaaS) market from 2022E to 2027F and growth rate until 2027F.
- To classify and forecast global software as a service (SaaS) market based on deployment type, organization size, end user, application, regional distribution and competitional landscape.
- 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 and services, 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, 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 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:
- Vendor, service providers and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to software as a service
- 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 provider, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, the 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:
- Software as a Service (SaaS) Market, By Deployment Type:
- Public Cloud
- Private Cloud
- Hybrid Cloud
- Software as a Service (SaaS) Market, By Organization Size:
- Large Enterprises
- Software as a Service (SaaS) Market, By Application:
- Customer Relationship Management
- Content Communication & Collaboration
- Business Intelligence/Analytics
- Enterprise Resource Planning
- Human Resource Management
- Supply Chain Management
- Software as a Service (SaaS) Market, By End User:
- IT & Telecom
- Oil & Gas
- Software as a Service (SaaS) Market, By Region:
- North America
- United States
- United Kingdom
- South Korea
- South America
- Middle East & Africa
- Saudi Arabia
- South Africa
Company Profiles: Detailed analysis of the major companies present in the Global Software as a Service (SaaS) market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
6.Amazon Web Services Inc.
9.Hewlett Packard Enterprise Development LP
11.Cisco Systems Inc.
13.Zoom Video Communications Inc.
15.Atlassian Corporation PlcPlease Note:
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