Global Software as a Service (SaaS) Market, By Type of Deployment (Public Cloud, Hybrid Cloud, and Private Cloud), By Organization Size (SMB and Large Enterprises), By Application (Customer Relationship Management, human resources, content communication and collaboration, business intelligence/analytics, enterprise resource planning, supply chain management and others), by end user (manufacturing, healthcare, IT and telecommunications, retail retail, education, government, BFSI, oil and gas), by region, competition forecast and opportunities, 2027
New York, Jan. 26, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Software as a Service Market, By Deployment Type, By Organization Size, By Application, By End User, By Region, Competition Forecasts and opportunities, 2027” – https://www.reportlinker.com/p06177411/?utm_source=GNW
The global software as a service (SaaS) market was valued at USD 149.07 billion in 2021 and is expected to grow at a CAGR of 19.31% during the forecast period, to reach USD 441.26 billion. ‘by 2027. Increasing investments for the development of IT infrastructure by major authorities and market players, growing internet penetration and increasing demand for backup and data security to protect critical information are The key factors driving the growth of the global Software as a Service (SaaS) market over the forecast period.
The rapid digitization of organizations generates a large volume of data. The economic benefits of the convenience of using digital technology proliferates the demand for various types of software for different purposes.
Software as a Service stores critical software applications and information on the cloud platform, eliminating the need to invest in purchasing and maintaining local infrastructure. They remove the need to manually back up data by enabling timely backups, which ensures data integrity and security in an organization.
However, high implementation costs and difficulty in integrating hybrid infrastructure may hamper the growth of the global software as a service (SaaS) market during the forecast period.
The global software as a service (SaaS) market is segmented on the basis of deployment type, organization size, application, end user, and regional distribution. Based on deployment type, the market is divided into public cloud, hybrid cloud, and private cloud. .
The public cloud segment is expected to hold the largest market share during the forecast period, 2023-2027. The public cloud offers several advantages such as high flexibility, scalability, no maintenance costs and less complexity than other cloud models.
Growing technological advancements and increasing number of vendor offerings are supporting the adoption of public cloud by organizations.
Key players operating in the global Software as a Service (SaaS) market are Salesforce.com, Inc., SAP SE, Amazon Web Services Inc., Alphabet Inc., Workday Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation , VMware Inc., Hewlett Packard Enterprise Development LP, Adobe Inc. and Cisco Systems Inc.
Years considered for this report:
Historical years: 2017-2020
Base year: 2021
Estimated year: 2022E
Forecast Period: 2023F–2027F
Goal of the study:
• To analyze the global Software as a Service (SaaS) market size from 2017 to 2021.
• Estimate and forecast the global Software as a Service (SaaS) market size from 2022E to 2027F and the growth rate till 2027F.
• To classify and forecast the global Software as a Service (SaaS) Market based on deployment type, organization size, end-user, application, regional distribution, and landscape competitive.
• To identify the dominant region or segment in the global Software as a Service (SaaS) market.
• Identify drivers and challenges for the global Software as a Service (SaaS) market.
• Examine competitive developments such as expansions, new product and service launches, mergers and acquisitions, etc., in the global Software as a Service (SaaS) market.
• Identify and analyze the profile of key players operating in the global Software as a Service (SaaS) Market.
• To identify the key sustainable strategies adopted by market players in the global Software as a Service (SaaS) Market.
The analyst conducted extensive primary and secondary research for this study. Initially, the analyst procured a list of service providers across the world.
Subsequently, the analyst conducted primary research surveys with the identified companies. During the interviews, the respondents were also asked about their competitors.
Using this technique, the analyst could include service providers that could not be identified due to the limitations of secondary research. The analyst looked at the service providers and the presence of all major players across the world.
The analyst calculated the global Software as a Service (SaaS) market size using a bottom-up approach, in which data from various end-user segments was recorded and forecasted for the coming years. The analyst obtained these values from industry experts and company representatives and validated them externally by analyzing historical data for these types of products to derive an appropriate overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key target audience:
• Vendor, service providers and other stakeholders
• Government bodies such as regulators and policy makers
• Organizations, forums and alliances related to software as a service
• Market research and consulting firms
The study is helpful in providing answers to several critical questions that are important for industry stakeholders such as service providers, partners, end users, etc., besides enabling them to form investment strategies and to capitalize on market opportunities.
In this report, the global Software as a Service (SaaS) Market has been segmented into the following categories, in addition to industry trends which have also been detailed below:
• Software as a Service (SaaS) market, by type of deployment:
o Public cloud
o Private cloud
o Hybrid cloud
• Software as a Service (SaaS) Market, by Organization Size:
o Large Companies
• Software as a Service (SaaS) Market, by Application:
o Customer Relationship Management
o Content communication and collaboration
o Business Intelligence/Analytics
o Enterprise resource planning
o Human resources management
o Supply chain management
• Software as a Service (SaaS) market, by end user:
o IT & Telecom
o Oil and gas
• Software as a Service (SaaS) market, by region:
o North America
o South America
o Middle East and Africa
United Arab Emirates
Company Profiles: Detailed analysis of the major companies operating in the global Software as a Service (SaaS) market.
With the market data provided, we offer customizations based on a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of other market players (up to five).
Read the full report: https://www.reportlinker.com/p06177411/?utm_source=GNW
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