Press release
Software As A Service (SaaS) Market Is Predicted To Experience Incremental Growth In The Forecast Period 2022-2031
Software as a service (SaaS) Market
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The global software as a service (SaaS) market report by the business research company identifies the rapid changes in business dynamics in the market are expected to benefit the software as a service (SaaS) market in the forecast period as cloud-based solutions support business operations in changing conditions. Dynamic market conditions include economic uncertainty, competitive rivalry and the increasing adoption of mobile, changing regulations, internet usage and applications. These conditions along with the increasing number of infrastructures and established networks have forced organizations to pursue scalable and flexible solutions such as SaaS and other cloud-enabled services to run and supervise their operations in a cost-effective and efficient way. These factors have also compelled companies to outsource applications and prefer cloud computing services like SaaS to reduce their cost burden on infrastructure. Companies that seek services from a third-party vendor are more likely to get better performance, compliance and customer satisfaction at a low cost.
The global software as a service (SaaS) market grew from $212.2 billion in 2021 to $242.57 billion in 2022 at a compound annual growth rate (CAGR) of 14.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The software as a service (SaaS) market is expected to grow to $356.6 billion in 2026 at a CAGR of 10.1%.
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North America was the largest region in the software as a service (SaaS) market in 2021. Western Europe was the second largest region in the software as a service (SaaS) market. The regions covered in the software as a service (SaaS) market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major players in the Software as a Service (SaaS) market are Salesforce, ServiceNow, Microsoft, Google, Cisco, Slack, Adobe, Oracle, Amazon AWS, DocuSign, Zendesk, Dropbox, ADP, Atlassian Confluence, Shopify, Workday, Hubspot, SAP, IBM, Box, Concur, JIRA, GitHub, GoToMeeting, Twilio, CoupaSoftware, Xero and Zuora.
The global software as a service (SaaS) market is segmented -
1) By Application: Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Resource Management (HRM), Manufacturing and Operations, Supply Chain Management (SCM)
2) By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
3) By Enterprise Size: Small & Medium Enterprises (SMEs), Large Enterprises
4) By End User: Manufacturing, Retail, Education, Healthcare, IT & Telecom, BFSI, Others
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The Software As A Service (SaaS) Market Report Contents Include
Table Of Contents
1. Executive Summary
2. Software as a service (SaaS) Market Characteristics
3. Software as a service (SaaS) Market Trends And Strategies
4. Software as a service (SaaS) Market - Macro Economic Scenario
5. Software as a service (SaaS) Market Size And Growth
....
26. Africa Software as a service (SaaS) Market
27. Software as a service (SaaS) Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Software as a service (SaaS) Market
29. Software as a service (SaaS) Market Future Outlook and Potential Analysis
30. Appendix
This report covers the trends and market dynamics of the software as a service (SaaS) market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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