Press release
Software as a Service (SaaS) Market was valued at USD 139.29 billion in 2021 and is projected to reach USD 438.11 billion by 2029, growing at a CAGR of 15.4% during the forecast period of 2021-2029.
Software as a Service (SaaS) Market
The report analyzes the revenue impact of the COVID-19 pandemic on market leaders, followers, and disruptors, providing an assessment of the market landscape. It highlights the market's growth trajectory, with revenues reaching $90.64 billion in 2021 and projected to reach $329.84 billion by 2029, representing a remarkable increase of 15.4% from previous years.
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The competitive landscape of the Global Software-as-a-Service (SaaS) Market is also analyzed in the report. The market consists of numerous players, both market leaders and followers, who are investing in new technologies to drive innovation and growth.
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What are Software as a Service (SaaS) Market Dynamics?
Software-as-a-Service has emerged as a preferred choice for organizations worldwide, enabling them to streamline their operations and reduce costs significantly. By eliminating the need for hardware acquisition, maintenance, and software licensing, SaaS allows companies to focus on their core business functions. This cost-cutting tool has contributed to the rapid growth of the SaaS market, and it is expected to continue expanding at a robust pace in the coming years.
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One of the key drivers behind the growth of the SaaS industry is the increasing adoption of SaaS solutions across organizations of all sizes. From small firms to large enterprises, businesses are leveraging SaaS technologies to enhance their operations and leverage the numerous benefits it offers. The report reveals that companies with over 250 employees use more than 100 SaaS applications, while smaller firms with up to 50 employees employ between 25-50 SaaS solutions on average. This trend is attributed to the rising availability of useful SaaS products in the enterprise IT market segment, as well as the tooling-focused product development approaches such as Agile and DevOps.
However, the market growth is not without its challenges. Data security concerns, integration issues, and the need for uninterrupted high-speed internet connectivity present limitations to the expansion of the SaaS industry. Overcoming these hurdles will be crucial for sustained growth and wider adoption of SaaS solutions.
What are Software as a Service (SaaS) Market regional insights?
Regionally, North America currently dominates the global SaaS market, driven by the widespread adoption of SaaS-based solutions in areas such as human capital management, emails, office suites, and web conferencing. However, the Asia-Pacific region is expected to witness the fastest growth, thanks to the increasing number of SaaS vendors providing continuous marketing, support, and sales services.
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What is Software as a Service (SaaS) Market Segmentation?
by Vertical
• BFSI
• It &Telecommunication
• Manufacturing
• Retail
• Healthcare
• Education
• Others
by Deployment
• Public Cloud
• Private Cloud
• Hybrid Cloud
by Application
• ERP
• CRM
• HRM
• SCM
• Others
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Who are Software as a Service (SaaS) Market Key Players?
• Symantec Corporation,
• Google Inc.,
• Fujitsu Ltd.,
• Amazon.com Inc.,
• IBM Corporation,
• HP,
• Oracle Corporation,
• SAP SE,
• Microsoft Corporation,
• Salesforce.
• Zuora
• Concur Technologies
• Medidata Solutions
• Workday, Inc.
• NetSuite Inc.
• ServiceNow, Inc.
• ADP, LLC
• Adobe Inc.
• Alphabet Inc
Table of content for the Software as a Service (SaaS) Market includes:
1. Global Software as a Service (SaaS) Market: Research Methodology
2. Global Software as a Service (SaaS) Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Software as a Service (SaaS) Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Global Software as a Service (SaaS) Market Segmentation
• Global Market, by Vertical(2021-2029)
• Global Market, by Deployment(2021-2029)
• Global Market, by Application (2021-2029)
5. Regional Software as a Service (SaaS) Market(2021-2029)
• Regional Market, by Vertical(2021-2029)
• Regional Market, by Deployment(2021-2029)
• Regional Market, by Application (2021-2029)
• Regional Market, by Country (2021-2029)
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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