Press release
Future of the Global Software as a service (SaaS) Market: Trends, Innovations, and Key Forecasts Through 2034
Software as a service (SaaS)
Software as a service (SaaS) Market Size Growth Forecast: What to Expect by 2025?
Growth in the Software as a Service (SaaS) market has been robust in recent years. The market is projected to increase from $242.27 billion in 2024 to $254.84 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 5.2%. Factors such as greater internet access, advancements in technology, a focus on minimizing IT infrastructure expenses, governmental initiatives, and an uptick in e-commerce penetration have contributed to the growth during the historic period.
How Will the Software as a service (SaaS) Market Size Evolve and Grow by 2029?
In the coming years, the software as a service (SaaS) market is predicted to experience substantial growth, surging to a market size of $312.26 billion in 2029 with a compound annual growth rate (CAGR) of 5.2%. Many factors, like the increasing embrace of IoT technology, the impact of the COVID-19 pandemic and the proliferation of smart cities, contribute to this forecasted growth. Looking ahead, key trends for this period will involve the use of artificial intelligence (AI) to enhance personalisation, efficiency and security, the adoption of white label SaaS, offering bespoke solutions to attract clients, the use of centralised analytics to streamline and accelerate processes and the expansion of mobile optimisation.
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What Drivers Are Propelling the Growth of Software as a service (SaaS) Market Forward?
The predicted positive impact on the software as a service (SaaS) market stems from swift shifts in commercial dynamics, as cloud-based solutions aid businesses in adapting to fluctuating conditions. This dynamic marketplace features elements such as economic unpredictability, intense competition, growing acceptance of mobile technology, evolving laws, expanded internet use, and applications. Amid these conditions and the simultaneous escalation of infrastructure numbers and established networks, organizations find themselves driven towards adaptable and scalable options like SaaS and other cloud services, enabling cost-effective and efficient management and oversight of their operations. These trends also lead companies to entrust applications to external entities and lean towards SaaS and other cloud services to alleviate infrastructure costs. Firms outsourcing to third-party providers generally attain improved performance, compliance, and customer satisfaction without great expense. Sony Communications, for instance, utilized automation and Infosys SaaS solutions to deliver pioneering goods and enhanced customer experiences. Infosys supported Sony in boosting customer loyalty and outperforming competition through offering sturdy IT solutions and thoughtful design at minimal cost, which subsequently fortified Sony's competitive standing in the software as a service (SaaS) market.
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Which Emerging Trends Are Transforming the Software as a service (SaaS) Market in 2025?
Artificial Intelligence (AI) is becoming increasingly prevalent in the SaaS market. As a segment of computer science, AI pertains to the mimicking of human intellect via machines. Utilising AI within SaaS allows organizations to keep pace with contemporary data, enhance user experience via predictive analytics, automate sectors previously relying on manual methods and tailor user interface features. For instance, Oracle, a major contender in the SaaS market, leverages AI and machine learning to surpass salesforce in SaaS. This suggests that AI and machine learning could be key elements contributing to the expansion of the SaaS market.
What Are the Key Segments in the Software as a service (SaaS) Market?
The software as a service (saas)market covered in this report is segmented -
1) By Application: Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Resource Management (HRM), Manufacturing and Operations, Supply Chain Management (SCM)
2) By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
3) By Enterprise Size: Small & Medium Enterprises (SMEs), Large Enterprises
4) By End User: Manufacturing, Retail, Education, Healthcare, IT & Telecom, BFSI, Other End-Users
Subsegments:
1) By Customer Relationship Management (Crm): Sales Automation Tools, Customer Support And Service Management, Marketing Automation And Analytics
2) By Enterprise Resource Planning (Erp): Financial Management Solutions, Procurement And Sourcing, Project Management
3) By Human Resource Management (Hrm): Recruitment And Talent Acquisition Systems, Employee Onboarding And Training Solutions, Payroll And Benefits Administration
4) By Manufacturing And Operations: Manufacturing Execution Systems (Mes), Production Planning And Scheduling Software, Quality Management Systems (Qms)
5) By Supply Chain Management (Scm): Inventory Management And Order Fulfillment, Supplier Relationship Management, Demand Forecasting And Planning Tools
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Who Are the Key Players Shaping the Software as a service (SaaS) Market's Competitive Landscape?
Major companies operating in the software as a service (SaaS) market include Microsoft Corporation, Salesforce.com Inc., Oracle Corporation, Automatic Data Processing Inc., Alphabet Inc., Adobe Inc., Amazon.com Inc., Cisco Systems Inc., ServiceNow Inc., Shopify Inc., Alibaba, Tencent, Kingsoft Corporation, UCloud Information Technology, Fujitsu Ltd., Toshiba Corporation, Hitachi Ltd., KDDI Corporation, Nippon Telegraph and Telephone Corporation, Infosys Technologies Ltd., Tata Consultancy Services, Zenith Infotech Limited, DigitalOcean Inc., Wipro Ltd., NetApp India Pvt. Ltd., SAVVIS Australia Pty Ltd, Computacenter, Sage, Commerce Decisions, Mimecast, Wise, GoCardless, Sequel, Triptease, Duffel, MeTail, SKB Kontur, Softline, Tensor, Mango Telecom, Rostelecom, Neuron Soundware, Manta, IP Fabric, 1C BItrix, TOTVS S.A, Beedoo Edtech, Tiendanube, Vates, Glamit, GOintegro, CodeLab, Kitopi, LMKR, Dimension Data, T-Systems South Africa (TSSA), Kobo360, Teraco Data Environments, Main Data Nigeria Limited, accenture* PLC
What Geographic Markets Are Powering Growth in the Software as a service (SaaS) Market?
North America was the largest region in the Software as a Service (SaaS) market in 2024. Western Europe was the second largest region in the global Software as a Service (SaaS) market share. The regions covered in the software as a service (SaaS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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