A set of many software that are developed and hosted by a third party member for various industrial implementations today is Software as a Service or more commonly called as SaaS. The SaaS model has majorly replaced the traditional Application Service Provider (ASP) model in which many of the hidden costs of having on-premise software gets eliminated. The user always uses the latest version of the software. The installation, maintenance and up gradation of software is all managed by the third party vendor itself that results in saving huge amounts of capital expenditures for an organization deploying SaaS. The organization here does not own the software and instead uses it on-demand on a pay-per-usage basis from the vendor.
According to the new Market research study published by The Insight Partners, The Global Software as a Service Market was estimated at US$ 34.78 Bn in 2015. This market is expected to grow at a CAGR of 28.3% between 2016 and 2025, to reach US$ 418.92 Bn in the year 2025. The report brings to light the factors prevalent in the global SaaS market and the factors boosting the market along with the restraining factors for the same.
Browse market data tables and in-depth TOC of the Software as a Service (SaaS) Market to 2025 @ http://www.theinsightpartners.com/reports/software-as-a-service-saas-market
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Overall the software as a service market has been segmented on the basis of deployment models, the applications and on the basis of end users they cater to and geographical segmentation. Private cloud, public cloud and hybrid cloud are the deployment models into which this market has been segmented. Additionally, on the basis of applications, the global software as a service market is segmented into Customer Relationship Management (CRM), Human Resource Management (HRM), Enterprise Resource Planning (ERP), Supply Chain Management (SCM) and others. On the basis of end-users the global software as a service market is segmented into Small and Medium sized enterprises, Large Scale Enterprises and Government. Geographically, the market is segmented into North America, Asia Pacific (APAC), Europe, South America (SAM) and Middle East & Africa (MEA).
Analysis concludes that North America and Europe dominate the global software as a service market, however, they are expected to lose market share to APAC during the forecast period. The APAC region is expected to register a growth rate of 33.1% during 2016 to 2025.
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The SaaS model has proved a boon particularly for the SME’s all over the world as they can save a lot on initial capital costs and instead focus on their core product to reach the break-even point early. Lower Total Cost of Ownership, easy scalability, less time to market of the product are the factors that are driving the adoptions of the SaaS market globally. Also, the advent of Big Data & IoT, SaaS has found many applications in the two upcoming technologies and consequently has an impact on the growth of the SaaS market.
The report provides deep insights on the growth rates, market shares, market drivers and restraints and the opportunities for market players in the future. The report profiles key players such as ADP LLC, SAP SE, Symantec Corporation, IBM Corporation, Amazon.com, Google, Inc., Microsoft Corporation, Oracle Corporation, Inc., Fujitsu Limited and Workday, Inc. The profiling of the market players provides their financial information about revenues as well as segment revenues, a competitive SWOT analysis for each player and the recent developments by the player in the SaaS domain. The key developments are related to the mergers and acquisitions by the players in the recent
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