Asia Pacific software as a service (SaaS) market-: key Vendors, Trends, Analysis, Segmentation, and Forecast to 2018-2023

The Asia Pacific software as as service (SaaS) market report provides an in-depth analysis of the INDUSTRY during the forecast period 2018-2023 which consists of the industry overview including the market size, volume, growth rate and recent trends and developments in the market based on historical and current data. The report covers detailed information about the key players, market segments, growth drivers and restraints in the industry. The report delivers an insight into the Asia Pacific software as aservice (SaaS) market which allows our clients to make informed decisions regarding the growth of their businesses.

Software-as-a-service (SaaS) is a kind of cloud computing in which a third-party provider manages applications and makes them accessible to consumers over the internet. It removes the need for organisations to install and run applications on their computers or in their data centres, which eliminates the cost of hardware acquisition, provisioning and maintenance as well as software licensing, installation and support. The SaaS market is anticipated to grow at a compound annual growth rate (CAGR) of 34.28% during the forecast period 2018-2023.Based on the deployment model, the SaaS market can be segmented into public cloud, private cloud and hybrid cloud. The private cloud and public cloud models are showing a positive trend in the market, and the companies are trying to employ the hybrid cloud model in the recent future. The public cloud market has the largest market share, whereas the hybrid cloud market is predicted to grow at the highest CAGR.

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Depending on application, the SaaS market can be bifurcated into enterprise resource planning (ERP), customer relationship management (CRM), human resource management (HRM), supply chain management (SCM) and others. Other application types include web conferencing platforms, messaging applications and collaborations. HRM has the largest market share and is also predicted to have the highest growth rate in the forecast period.

By vertical, the SaaS market can be segmented into banking, financial services and insurance (BFSI), information technology (IT) and telecommunication, manufacturing, retail, healthcare, education, and others. The BFSI segment continues to hold the largest market share in the vertical segment. The manufacturing segment will be growing at a significant rate during the forecast period.

Japan is leading in SaaS adoption in the Asia-Pacific region. The country accounts for at least 40% of the region’s SaaS expenditure. There are barriers in the Japanese market for the entry of most of the global SaaS companies as there is a tendency for the organizations to opt for home-grown solutions.

Key growth factors

Asian businesses are trying to maintain cost and functionality for their continuously changing business requirements. The need for innovation, agility, flexibility and speed in the business process increases the demand for SaaS-based solutions. Also, the countries of Asia-Pacific are still developing and are not at par with the developed regions. So, the primary concern is always the cost-efficiency. SaaS vendors offer solutions with lower operational expenses that help drive margins.

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Threats and key players

Asian organisations are still fighting non-tech issues in their institutions such as corruption, weak government administration and lack of purchasing power. These problems are much lower in the value chain. While solving these problems, incorporating SaaS in their systems seem to be either a distraction or luxury for their businesses.

The key players in the market are Symantec Corporation, Google Inc., Fujitsu Ltd., Amazon.com Inc., IBM Corporation, HP, Oracle Corporation, SAP SE, Microsoft Corporation and Salesforce.

What’s covered in the report?

1. Overview of the SaaS market in the Asia-Pacific.
2. Market drivers and challenges in the SaaS market in Asia-Pacific.
3. Market trends in the SaaS market in Asia-Pacific.
4. Historical, current and forecasted market size data for the SaaS market in Asia-Pacific.
5. Historical, current and forecasted market size data for the deployment segment (public cloud, private cloud and hybrid cloud).
6. Historical, current and forecasted market size data for the application segment (ERP, CRM, HRM, SCM and others).
7. Historical, current and forecasted market size data for the vertical segment (BFSI, IT and telecommunication, manufacturing, retail, healthcare, education and others).
8. Historical, current and forecasted regional (China, India, Japan, South Korea, Australia and New Zealand, and the rest of Asia-Pacific) market size data for the SaaS market.
9. Analysis of the SaaS market in Asia-Pacific by value chain.
10. Analysis of the competitive landscape and profiles of major competitors operating in the market.

Why buy?

1. Understand the demand for SaaS to determine the viability of the market.
2. Determine the developed and emerging markets for software as a service.
3. Identify the challenge areas and address them.
4. Develop strategies based on drivers, trends and highlights for each of the segments.
5. Evaluate the value chain to determine the workflow.
6. Recognize the key competitors of this market and respond accordingly.
7. Knowledge of the initiatives and growth strategies taken by the major companies and decide on the direction of further growth.

Read FullReport-https://www.marketwatch.com/press-release/asia-pacific-software-as-a-service-saas-market-by-application-type-by-industry-type-by-brand-and-major-players-2018-2023-2019-10-07

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This release was published on openPR.