Software as a Service (SaaS) Market Outlook 2027 By Global Industry Size, Share, Trends, Competition

According to TechSci Research, The global Software as a Service (SaaS) Market is expected to reach USD441.26 billion by 2027, growing at a CAGR of 19.31% owing to the rising demand for data backup & recovery. SaaS solutions eliminate the time-consuming task of performing weekly backups by triggering automatic backups without user intervention, ensuring the integrity of company data which is expected to fuel the growth of the Software as a Service (SaaS) across the globe.

Adoption of Subscription Based Services Driving Market Growth

Digital subscription solutions have expanded acceptance of many software applications due to their convenience and cost-saving features. Business applications are increasingly being seen as a cost-effective solution for branch offices and other facilities with limited IT expertise by global organizations. Such services are hosted within the firewall capabilities of large organizations with no data security concerns and the requisite infrastructure or resources. There is no license charge with SaaS apps because they are subscription-based, resulting in lower upfront expenditures. In addition, because the SaaS provider maintains the IT infrastructure, IT expenditures for hardware, software, and resources have decreased dramatically. The mentioned advantages of Software as a Service (SaaS) are anticipated to push the growth of the Global Software as a Service (SaaS) Market.

Bypassing of Internal IT Departments Supports Market Growth

Internal IT models in which technicians directly employed by a company adjust aspects of its software architecture as needed have been replaced by SaaS. Customers have been able to free up technical employees to focus on more strategic infrastructure expenditures thanks to SaaS solutions. It assists the customer in alleviating the strain of IT infrastructure and operations. Functional administrators can frequently configure the system themselves with minimal training, rather than asking technical IT support, thanks to the advantage of configuration over customization. The usage of SaaS has helped companies in bypassing the Internal IT Departments which results in cost efficiency and therefore is anticipated to drive the Global Software as a Service (SaaS) Market in the forecast period.

Click here to download the sample

Emergence of Vertical SaaS Fuels Market Growth

Clients are targeted within certain industries and supply chains, and Vertical SaaS is completely customizable. Examples include healthcare analytics software, retail analytics, and modern logistics analytics. Vertical SaaS providers can adjust features based on customer demand and industry, effectively meeting the needs of their market segment's clients. As a result, there is more flexibility and potential for upselling, as well as lower customer acquisition expenses. It allows businesses to obtain industry-specific customer data and intelligence, which is essential for gaining customer-centric insights. Businesses can utilize pre-defined measurements, KPIs, and analytics in Vertical SaaS to monitor and improve daily and long-term processes and performance. Vertical SaaS is proving to be a cost-effective, industry-specific solution for companies looking to benefit from specialization. It allows them to fine-tune the personalization of specific features and will fuel the growth of the SaaS Market.

Market Segmentation

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 further fragmented into public cloud, private cloud & hybrid cloud. On the basis of organization size, the market is divided into SMEs & large enterprises. also, segmentation of the market on grounds of application, is done into customer relationship management, human resource management, content communication & collaboration, business intelligence/analytics, enterprise resource planning, supply chain management & others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Asia-Pacific region, North American region, European region, South American region, and Middle East & African region. United States Software as a Service (SaaS) market is projected to grow at CAGR of over 18% to reach USD147.55 billion by 2027.

Company Profiles

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 are among the major market players in the global platform that lead the market growth of the global Software as a Service (SaaS) market.

Attribute	Details
Market Size Value in 2021	USD149.07 Billion
Revenue Forecast in 2027	USD441.26 Billion
Growth Rate	19.31%
United States Market Size Value in 2021	USD51.64 Billion
Base Year	2021
Historical Years	2017 – 2020
Estimated Year	2022
Forecast Period	2023 – 2027
Quantitative Units	Revenue in USD Billion and CAGR for 2017-2021 and 2022-2027
Report Coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	·         Deployment Type ·         Organization Size ·         Application ·         End User
Regional Scope	North America; Europe; Asia Pacific; South America; Middle East & Africa
Country Scope	United States; Canada; Mexico; United Kingdom; Germany; France; Spain; Italy; China; India; Japan; South Korea; Singapore; Brazil; Argentina; Colombia; Saudi Arabia; UAE; South Africa;
Key Companies Profiled	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., Cisco Systems, Workday Inc., Zoom Video Communications Inc., ServiceNow, Inc. and Atlassian Corporation Plc
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, global Software as a Service (SaaS) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Software as a Service (SaaS) Market, By Deployment Type:
• Public Cloud
• Hybrid Cloud
• Private Cloud
• Software as a Service (SaaS) Market, By Organization Size:
• Large Enterprises
• SMEs
• Software as a Service (SaaS) Market, By Application:
• Customer Relationship Management
• Content Communication & Collaboration
• Business Intelligence/Analytics
• Enterprise Resource Planning
• Human Resource Management
• Supply Chain Management
• Others
• Software as a Service (SaaS) Market, By End User:
• IT & Telecom
• BFSI
• Healthcare
• Education
• Retail
• Manufacturing
• Government
• Oil & Gas
• Software as a Service (SaaS) Market, By Region:
• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Singapore
• South America
• Brazil
• Colombia
• Argentina
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Software as a Service (SaaS) market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: sales@techsciresearch.com

Website: https://www.techsciresearch.com