Revolutionizing Business Operations: SaaS Market to Grow at a CAGR of 18.82%, Reaching USD 122.34 Billion in 2022 - Evolve Business Intelligence Study

As per the study initiated by Evolve Business Intelligence, the global Software As A Service (SaaS) market size accounted for USD 122.34 Billion in 2022, growing at a CAGR of 18.82% from 2023 to 2033. Software as a Service (SaaS) is a software delivery model where software applications are hosted by a third-party provider and made available to users over the Internet. With SaaS, users can access the software and its functionalities through a web browser or an API without having to install and maintain it on their computers or servers. The software is typically licensed on a subscription basis, with users paying a recurring fee to access the software and its updates. SaaS offers several benefits such as lower upfront costs, easy scalability, automatic software updates, and a reduced need for IT support. It is commonly used for business applications such as customer relationship management (CRM), enterprise resource planning (ERP), human resource management (HRM), and project management.
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Key Highlights:
• The global Software As A Service (SaaS) Market size was valued at USD 122.34 billion in 2022 growing at a CAGR of 18.82% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033
Evolve Business Intelligence has published a new market research report on the Global Software As A Service (SaaS) Market focusing on various aspects including market size and forecast, market dynamics, competitors' market share analysis, market size in terms of value and volume, SWOT analysis, product benchmarking, key players recent developments, and opportunities, among others. The market has also been analyzed based on 4 indicators in the market dynamic chapter which include Drivers, Restraints, Key Trends, and Challenges. The overall sum of these sections will help to understand the best strategies to be adopted to prosper in this industry over the short and long terms. The quantitative analysis includes our authentic findings of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.
In terms of COVID-19 impact, the Software As A Service (SaaS) market report also includes the following data points:
• COVID-19 Impact on Software As A Service (SaaS) market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players' Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in the Software As A Service (SaaS) Market
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Key Players
Some of the major Software As A Service (SaaS) players holding high market share include Adobe Inc, Cisco Systems Inc, Google, and IBM Corporation. These players use partnership and collaboration as key strategies to gain significant market share to compete with market leaders.
The key players profiled in the report are:
• Adobe Inc
• Cisco Systems Inc
• Google
• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• Salesforce.com Inc
• SAP SE
• ServiceNow
Segmental Analysis
Market Segment By Solution Type with a focus on market share, consumption trend, and growth rate of the Software As A Service (SaaS) Market:
o Customer Relation Management (CRM)
o Enterprise Resource Planning
o Supply Chain Management
o Operation Management
o Human Resource Management (HRM)
o Others
Market Segment By Deployment Model with focus on market share, consumption trend, and growth rate of Software As A Service (SaaS) Market:
o Private cloud
o Public cloud
o Hybrid cloud
Market Segment By Organization Size with focus on market share, consumption trend, and growth rate of Software As A Service (SaaS) Market:
o Small & Medium-Sized Enterprises
o Large Enterprises
Market Segment By Vertical with focus on market share, consumption trend, and growth rate of Software As A Service (SaaS) Market:
o BFSI
o Manufacturing
o IT & Telecom
o Retail & E-Commerce
o Energy & Utility
o Healthcare
o Media & Entertainment
o Others
Parameters Details
Market Size (2022) USD 122.34 Billion
CAGR (2023 to 2033) 18.82%
Market Segmentation Solution Type, Deployment Model, Organization Size, Vertical
Country Covered US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America
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Global Software As A Service (SaaS) Geographic Coverage:
• North America
o US
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Spain
o Nordic Countries
o Benelux
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
o Malaysia
o Australia
o Rest of Asia Pacific
• Middle East and Africa
o Saudi Arabia
o UAE
o Egypt
o South Africa
o Rest of MEA
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
Reasons to Buy this Report:
• Detail analysis of the impact of market drivers, restraints, and opportunities
• Competitive Intelligence provides an understanding of the ecosystem
• Details analysis of the Total Addressable Market (TAM) of your products
• Investment Pockets and New Business Opportunities
• Demand-supply gap analysis
• Strategy Planning

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