Software as a Service Market 2026:Competitive Analysis By IBM Corporation; HP Development Company, L.P.; Micro Focus; Oracle; Adobe; Cisco Systems, Inc.; Xero Limited; TABLEAU SOFTWARE & Others

Global software as a service market is expected to rise to an estimated value of USD 272.70 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to major organizations adopting outsourcing facilities for various services and operation handlings of their businesses, coupled with greater utilization of social media and other messaging platforms for better communication solutions.
 
This report comprises of a methodical investment analysis which forecasts forthcoming opportunities for the market players. CAGR values mentioned in the report gives estimations about the rise or fall of the product demand in the forecasted duration. It offers historic data along with future forecast and detailed analysis of the market on a global and regional level. Not to mention, the data is collected only from the trustworthy sources such as journals, newspapers, company websites and annual reports of the companies on which businesses can rely confidently. It studies the trends in consumer and supply chain dynamics which are helpful in developing production strategies.

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Market Definition: Global Software as a Service Market

Software as a service (SaaS) can be defined as a collection of software for cloud computing provided by a third-party IT organization through the internet. These services are delivered in a specific model to the consumers availing the subscription service for the software. This software service is hosted centrally from the host provider and the collective service is provided to the customer on-demand. This service was developed to remove/reduce the requirement of having to integrate the software as an application on their individual servers significantly reducing the cost of deployment.

Major Market Competitors/Players

Few of the major competitors currently working in the global software as a service market are Symantec Corporation; Google; FUJITSU; Amazon Web Services, Inc.; Freshworks Inc.; IBM Corporation; HP Development Company, L.P.; Micro Focus; Oracle; Adobe; Cisco Systems, Inc.; Xero Limited; TABLEAU SOFTWARE; SAP SE; Microsoft; Salesforce.com, inc.; Workday, Inc.; Infor; Avaya Inc.; Epicor Software Corporation; RACKSPACE US, INC.; ServiceNow; Zuora Inc.; ADP, LLC. and Blackboard Inc. among others.

Key Developments in the Market:

• In June 2019, Freshworks Inc. announced that they had entered into a partnership with OrangeOne Corporation providing distribution services of various software developers to consumers in the Japan region. This partnership will help in better engagement of customers for Freshworks’ product offerings, applicable in various applications and end-users across the region
• In May 2019, Freshworks Inc. announced that they had acquired Natero, Inc. This acquisition will provide Freshworks Inc. with a combined SaaS program that provides marketing, sales, support and customer success. This unification will help in expansion of customer base while enabling the consumers of this program to retain greater volume of customers with low amount of resources available. The integration of combined services also helps in better service provision to the customer’s offerings unique solutions identified based on analysis

Market Drivers:
• Increased demand for cost-effective solutions that require lower consumption of resources while delivering equally effective product offerings
• Better deployment with unique customized offerings of these offerings is expected to drive the growth of the market
• Increased demand from various end-users to reduce their organizational costs while availing equally effective services is boosting the growth of the market
• Reduced costs of hardware, maintenance individual licenses for each software is also expected to foster growth of the market

Market Restraints:

• Varied concerns regarding security and infrastructural concerns related to privacy are factors expected to restrict the adoption
• Requirement of high-speed internet service for the effective integration and utilization of this service is also expected to restrain the market growth

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Segmentation: Global Software as a Service Market

• By Deployment Model
• Private Cloud
• Public Cloud
• Hybrid Cloud
• By Organization Size
• Large Enterprises
• Small & Medium Enterprises (SMEs)
• By Application
• Customer Relationship Management (CRM)
• Enterprise Resource Planning (ERP)
• Operations & Manufacturing
• Business Intelligence Management (BIM)
• Web Conferencing
• Enterprise Content Management (ECM)
• Enterprise Asset Management
• Human Capital Management (HCM)
• Unified Communication & Collaboration (UC&C)
• Finance & Accounting
• Structured Data Management
• Collaboration
• Security
• System/Network Management
• Engineering
• Storage Software
• Application Server Middleware
• Integration & Process Automation Middleware
• Quality & Lifecycle Tools
• Business Process Management
• Human Resource Management (HRM)
• Supply Chain Management (SCM)
• Others
o Messaging Applications
o Risk & Compliance Management
o Product Lifecycle Management (PLM)
o Enterprise Performance Management (EPM)
• By End-Users
• Manufacturing
• Banking, Financial Services & Insurance (BFSI)
• Healthcare
• Travel & Hospitality
• Retail
• Government
• Utilities
o Energy & Power
o Oil & Gas
o Water Management
o Others
• IT & Telecommunications
• Education
• Professional Services
• Others
• By Geography
• North America
• Europe
• Asia-Pacific
• South America
• Middle East and Africa

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Competitive Analysis

Global software as a service market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of software as a service market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Insights in the report:

• Complete and distinct analysis of the market drivers and restraints
• Key market players involved in this industry
• Detailed analysis of the market segmentation
• Competitive analysis of the key players involved

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