The global Software as a Service (SaaS) market is expected to grow from USD 131.21 billion in 2018 to USD 270.37 billion by 2026 at a CAGR of 17.43% during the forecast period from 2018-2026.
Global Software as a Service (SaaS) market is expected to reach USD 270.37 billion by 2026, at a CAGR of 17.43% from 2018 to 2026. The software as a service model allows users to access through various components and features of software with the help of a subscription model and without the need of product licenses. The comprehensive change in the way of perceiving communication is the key factor driving the growth of the SaaS solutions. The major use of instant messaging and social medical has led to adoption of SaaS across enterprises at a large sale. These factors propels the demand for Software as a Service (SaaS) market during the projected period.
Software as a Service (SaaS) is a process of software delivery and licensing in which software is accessed online via a subscription, rather than bought and installed on individual computers. The emergence and significant growth in messaging applications, emails, and video calls for private and business needs had increased the dependability of end users such as smartphones and tablets.
Therefore, growing number of end users are looking for remote access at affordable costs, as a result, influencing the demand for SaaS solutions.
The major key Vendors includes in the software as a service (SaaS) market are IBM, Oracle Corporation, Microsoft, Fujitsu, Google, Salesforce, Workday, ADP, SAP SE
- The base year for the study has been considered 2018, historic year 2015, 2016, and 2017, the forecast period considered is from 2019 to 2026
- The study delivers a comprehensive analysis of global software as a service (SaaS) market by deployment type, type, organisation size, end user, and region
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global software as a service market. This report incorporates the industry analysis which is focused on providing an extensive view of the software as a service market
- The study also includes attractiveness analysis of sensor, component, solution, and application, and region which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market
- The report provides company profile of the key players operating in the software as a service market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.