SaaS Management Platform Market Analysis, Growth Factors and Dynamic Demand by 2032

The SaaS Management Platform market size is estimated at USD 2,525.6 million in 2022 and is expected to reach USD 8,346.7 million by 2031, growing at a CAGR of 17% from 2022 to 2031. Growing need for managing SaaS licenses, SaaS vendors and contracts among enterprises are expected to drive the SaaS management platform market during the forecast period.

Rapid shift to the cloud-based software and applications is one of the major factor which is likely to fuel the demand for the SaaS management platform (SMP) across the world. The recent COVID-19 pandemic has created additional demand for the cloud-based applications in order to provide better remote working set up to employees. Therefore, companies are striving to be as efficient as possible and hence deploying SaaS management platforms to help enterprises in efficiently managing all cloud/SaaS based applications. Since majority of the companies has an average of more than 600 applications, the cost and management of the company-wide SaaS constellation could quickly get out of control. This poses problems for IT professionals trying to manage SaaS vendor licenses and optimize their environments. Therefore, enterprises are acquiring SaaS management platforms in order to optimize total cost of ownership, reduces risk and delivers critical knowledge of application utilization.

However, several enterprises across the world are still reliant on traditional IT management system including SaaS-based applications as well. Many organizations are struggling to manage multiple software applications, specifically SaaS applications at the same time without automation. Therefore, manual management of SaaS applications across enterprises are likely to hinder the growth of this market across the globe.

Currently, almost 70% of enterprises are investing in public cloud and SaaS offerings and will continue to do so in coming years also. This will lead to a proliferation of these administrative interfaces and repeat tasks, further increasing the burden on IT administrators. They already spent too much time on technical tasks. These tasks will not directly increase business value and must be handled independently.

During COVID-19 technology companies transitioning to a software as a service (SaaS) model, in which software is licensed on a subscription basis and hosted centrally, are set to realise significant benefits including increased revenue, reduced time to market and improved customer reach. Before COVID-19, SaaS was increasingly favoured due to the steady rise in the subscription-based economy. During COVID-19, SaaS app usage across all companies is up 30%, and spend is up 50%.

During COVID-19, businesses need to take their workforce remotely, this in turn increases the adoption of SaaS based software tools and applications. COVID-19 accelerate migration from on-premise to the SaaS (cloud). The SaaS tools enable remote collaboration and ensure more secure technology environments shift to remote-first work. During the initial shift to remote work caused by Covid-19, SaaS spending is expected to rose by 26% compared to the previous year. According to ZYLO SaaS Management Benchmark report , SaaS spending across all categories rose by 14%. This increased spending directly translates to an increase in the quantity of SaaS applications and this in turn indirectly increases the need for SaaS management tool to mange the SaaS application.

Notable investments due to increasing Remote work (COVID-19):

· Web conferencing (22%)

· Identity management (45%)

· IT security (26%)

· Virtual private networks (129%)

· Data security (132%)

Regional Insights

By region, the global SaaS Management Platform market is segmented into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa. North America accounted for a large share of the global market in 2021 at ~35%. In North America, U.S. is the hub of advanced technology. North America is expected to witness high-speed network connectivity and advancement in technologies during the next two to three years, which is expected to play a key role in the growth of the SaaS Management Platform market. A higher growth rate for the market in eastern countries is expected during the long-term due to the lower penetration of SaaS-based applications in U.S. as compared to other region. However, Asia Pacific is estimated to be the fastest growing SaaS Management Platform market in the world during the forecast period. Adoption of SaaS based software and application saw a significant surge in Asia Pacific. This is primarily due to the increasing adoption trend of smartphone and availability of high speed internet across various countries such India, South Korea, etc. Hence this would have expected to fuel the demand for SaaS Management Platform during the forecast period.

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Key Companies Insights

Kaseya, CoreView, Lyme, Zylo, Apptio and Chargebee are expected to lead in market share (%) and broad customer reach. The market is moderately fragmented, with various key players operating on global scale. Market players are focusing on new product launch and upgradation of existing product by implementing new technology to increase the features and strengthen their global footprint. During COVID-19 pandemic SaaS Management Platform vendors are focused on organic and inorganic growth strategy such as strategic collaborations and merger and acquisition activities with competitors or technology partners to develop innovative and advanced solutions to improve their offerings and market reach. For instance, in March 2021, CoreView has introduced a new add-on tool to get even deeper insight into Microsoft Teams. Adding new functionality to CoreView's SaaS management platform (SMP) empowers customers to make the best decisions for their digital workplace through automation and enhanced governance. In October 2020, Apptio, Inc., has acquired SaaSLicense, a software-as-a-service (SaaS) discovery, optimization, and management product. In In October 2019, CoreView has acquired Alpin, a provider of management solution for identifying and managing SaaS applications to accelerate IT operations.

Some of the key players operating in the global SaaS Management Platform market include:

· BetterCloud

· Quadrotech

· Chargebee

· AvePoint

· Basaas

· Zylo

· Binadox

· Applogie LLC

· Apptio

· CoreView

· LeanIX GmbH

· Kaseya

· Blissfully Tech

· Others

Segments

By Type

· SaaS Subscription Management

· SaaS User Management

· SaaS Vendor Management

· Cloud Vendor Management

By Enterprise Size

· SMEs

· Large Enterprise

By End User

· BFSI

· e-commerce

· Education

· IT & Telecom

· Healthcare

· Education

· Manufacturing

· Others

Global SaaS Management Platform Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global SaaS Management Platform market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Global SaaS Management Platform Market: Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.

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Key Points:
• Define, describe and forecast The Global Market by type, application, end user and region.
• Provide enterprise external environment analysis and PEST analysis.
• Provide strategies for company to deal with the impact of COVID-19.
• Provide market dynamic analysis, including market driving factors, market development constraints.
• Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
• Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
• Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.

Reasons to Purchase this Market Report:
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• Quantitative, qualitative, value (in USD million), and volume (in units million) data are among the segments and sub-segments.
• The research contains a wealth of data, including market dynamics and opportunities throughout the forecast period.
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