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USD 716.52 Billion Industry, Software as a Service (SaaS) Market Size, Share, Analysis Report [2021-2028]

Fortune Business Insights’ latest research report on Global SaaS (Software as a Service) Market seeks to provide in-depth insights into the industry revenue, size, share, while elaborating on the driving forces by relation to the history, to the present of the industry. , and future prospects.

In 2028, the SaaS (Software as a Service) market is expected to grow by approximately USD 716.52 billion. SaaS applications are run in the cloud and typically accessed through desktop and mobile apps, as well as through a web interface. In his report entitled “Software as a Service (SaaS) Market2021-2028”, Fortune Business Insight mentions that the market stood at USD 113.82 billion in 2020 and USD 130.69 billion in 2021.

SaaS is one of the main components of cloud computing. Companies and organizations use the SaaS model in various applications such as conferencing, sales force automation, customer relationship management (CRM), web content management, etc. Thus, with the growing demand, the market is expected to grow significantly over the forecast period. For example, in June 2021, Kylas announced the launch of an enterprise-grade SaaS CRM product for the Indian market to support cloud computing.

Industry development:

July 2021:Tata Consultancy Services (TCS) has announced the launch of Jile 5.0. It is an updated version of SaaS-based enterprise agile application. This new solution will help companies deliver large-scale development needs across many remote teams.

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Regional outlook

North America will be in the lead thanks to the existence of vital players in the region

North America is expected to remain at the forefront and hold the largest Software as a Service market share during the forecast period due to the increase in applications and investments made on SaaS by end users in industries such as healthcare, retail and consumer goods, etc. . Moreover, the presence of major SaaS vendors such as IBM Corporation, Microsoft Corporation, Oracle Corporation, Salesforce, Inc., in the United States and Canada is expected to promote the regional market. The region’s market stood at USD 57.30 billion in 2020.

The Asia-Pacific Software as a Service market is expected to show considerable Software as a Service market share in the coming years, owing to the presence of large companies in countries such as China, India, Japan and Australia. Additionally, growing venture capital investments to adopt SaaS platforms are favoring the regional market.

According to expert opinion, the North American industry held the largest revenue share in 2021. While the Asia-Pacific market is poised to grow at a rapid rate during the study period . This growth is attributed to the use of SaaS solutions for operations such as e-commerce, web hosting, enterprise resource planning, customer relationship management, and more.

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Software as a service is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as “software on demand” and web/web-hosted software.

SaaS is considered part of cloud computing, along with Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Desktop as a Service (DaaS), Managed Software as as a Service (MSaaS), Mobile Backend as a Service (MBaaS), Data Center as a Service (DCaaS), Integration Platform as a Service (iPaaS) and IT Management as a service (ITMaaS).

SaaS applications are usually accessed by users using a thin client, for example via a web browser. SaaS has become a common delivery model for many enterprise applications including office software, email software, payroll software, DBMS software, management software, CAD software , software development, gamification, virtualization, accounting, collaboration, customer relationship management (CRM), management information systems (MIS), enterprise resource planning (ERP), invoicing, field service management, human resource management (HRM), talent acquisition, learning management systems, content management (CM), geographic information systems (GIS), and service desk management.

List of Key Players Profiled in the Software as a Service Market Report

  • Microsoft Corporation (New Mexico, USA)
  •, Inc. (California, USA)
  • Oracle Corporation (California, USA)
  • IBM Corporation (New York, USA)
  • Accenture Plc. (Ireland)
  • OutSystems – Software em Rede, SA (Massachusetts, USA)
  • Cisco Systems, Inc. (California, USA)
  • Hewlett Packard Enterprise Company (Texas, USA)
  • GitLab, Inc. (California, USA)
  • Alphabet Inc. (Google LLC) (California, USA)

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Report scope

  • The report analyzes the Software as a Service Market by Value (USD Billion)
  • The report analyzes the SAAS market by deployment model (public cloud, private cloud, hybrid cloud)
  • The report analyzes the SAAS market by end user (BFSI, Retail, Education, Healthcare, IT & Telecom, Others)
  • The report analyzes the Software as a Service Market by Enterprise Size (SMB, Large)
  • The global SAAS market has been analyzed by country (USA, Canada, UK, Germany, France, Italy, Japan, China, India, South Korea)
  • The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Additionally, market attractiveness has been presented by region, by end user, by application, by deployment model, by enterprise size.
  • Also, major industry opportunities, trends, drivers, and challenges have been analyzed in the report.
  • The report analyzes the Software as a Service Market by Application (Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Resource Management (HRM), Supply Chain Management (SCM). ), others)
  • The report presents the analysis of the SAAS market for the historical period of 2017-2021 and the forecast period of 2022-2028

Software as a Service Market Segments:

By type of deployment

  • public cloud
  • Private cloud
  • hybrid cloud

By request

  • Customer Relationship Management (CRM)
  • Enterprise Resource Planning (ERP)
  • Content, collaboration and communication
  • BI and analytics
  • Human capital management
  • Others

By industry

  • Bank, Financial Services and Insurance (BFSI)
  • Retail and consumer goods
  • Health care
  • Education
  • Manufacturing
  • travel and hospitality
  • Others

By region

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

Quick Buy: SaaS Marketplace (Software as a Service)

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Fortune Business Insights™ delivers expert business analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique blend of tangible insights and qualitative analysis to help businesses achieve sustainable growth. Our team of experienced analysts and consultants use cutting-edge research tools and techniques to compile comprehensive market research, interspersed with relevant data.

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To see the original version on The Express Wire, visit USD 716.52 Billion Industry, Software as a Service (SaaS) Market Size, Share, Analysis Report [2021-2028]

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