Global Software as a Service Market Overview
Software as a service refers to a delivery model of software through the cloud where the software and all the associated data is hosted on a central database and is accessible to clients through a web browser. This concept of delivering a service through the use of a software enables the users to gain access to all the features and components of the software by subscribing and obtaining a license to the product. Alternatively stating, it works as an on-demand software where remote access to the software is available for the users residing anywhere, as long as they have internet connectivity and a subscription.
The global Software as a Service Market is estimated to showcase an impressive CAGR of 21% during the forecast period. Factors accrediting to this market growth include the proliferating IT industry and flourishing demand for software for data management and analysis in several industrial verticals. Further, a SaaS integration aids easier accessibility with quick deployment, fueling the demand for software as a service in various organizations from different domains. Additionally, the software as a service market is gaining traction due to rising demand for customized software solutions by numerous enterprises to meet their unique operational needs. The report published by MRFR suggests that the global software as a service market is likely to reach a revenue mark of USD 117 billion by the end of 2022.
Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/2003
- By deployment, the global software as a service market has been segmented into public cloud, private cloud, hybrid cloud, and community cloud.
- By end-user, the global software as a service market has been segmented into SMEs and large enterprises.
- By industry, the software as a service market has been segmented into IT & telecommunication, entertainment, BFSI, manufacturing, healthcare, and retail.
The major players operating in the market of Software as a Service Market are- Salesforce (U.S.), LinkedIn (U.S.), Concur Technologies (U.S.), Workday, Inc. (U.S.), IBM Corporation (U.S), Oracle Corporation (U.S.), NetSuite Inc. (U.S.), Medidata Solutions (U.S.), ServiceNow, Inc. (U.S.), Microsoft Inc. (U.S.), Google Inc. (U.S.), Zuora (U.S.) among others.
North America is dominating the market of Software as a Service Market due to various factors such as- presence of global players is giving competitive advantage to North American countries, rich entertainment industry and high adoption of on-demand software among others. Besides, U.S. has emerged as technologically advanced country which is also helping the growth of Software as a Service Market. Europe stands as second biggest market for SaaS. Countries such as U.K., Germany, France and Italy which falls under umbrella of developed countries are generating heavy demand for on-demand software for various industries. Asia-Pacific has emerged as fastest growing market. Growing economy of countries, new government policies in order to promote startups and global attention to the business environment are some of the major factor which is driving the market of SaaS in Asia-Pacific.
April 2019: CalAmp announced that it acquired Synovia Solutions and witnessed increases in its recurring revenue from SaaS, along with fleet management and vehicle safety portfolio. CalAmp is a technology solutions provider whereas, Synovia is a GPS driven fleet management software company.
Get Complete Report @ https://www.marketresearchfuture.com/reports/software-as-a-service-market-2003
- Software developers
- Government Agencies
- On-Demand Software providers
- Cloud service providers
- Cloud computing companies
- Research Institutes & Universities
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar