Software as a Service Market is a delivery model of software’s through cloud in which software and all the associated data’s are hosted centrally and accessed by clients through web browser. The concept of Software as a Service Market allows the users to access the all components and feature of a software on subscription model and not without licensing the product. In other words it is an on-demand software which provides remote access of software to theirs users over the internet. Growing IT industry and high demand for software for data management and analysis in various domains is leading to the growth of Software as a Service Market. SaaS offers various features such as low cost, speed deployment, customization and control over the data among others. Licensing a software incur heavy cost as well as an expert to monitor and operate. SaaS provides the feature of easy accessibility with speed deployment and various customization which makes this easier to operate. The global market of Software as a Service Market is estimated to grow at US ~$117 billion by the end of forecast period with compound annual growth rate of ~21%.
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.
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The Software as a Service Market has been segmented on the basis of-
- By Deployment– Public Cloud, Private Cloud, Hybrid Cloud and Community Cloud.
- By End User– SMEs and Large Enterprises among others
- By Industry– IT & Telecommunication, Entertainment, BFSI, Manufacturing, Healthcare, Retail 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.
Study Objectives of Global Software as a Service:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Software as a Service.
- To provide insights about factors affecting the market growth.
- To analyze the global Software as a Service Market based porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment by programming languages and applications.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Software as a Service Market.
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- Software developers
- Government Agencies
- On-Demand Software providers
- Cloud service providers
- Cloud computing companies
- Research Institutes & Universities
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