Global Software as a Service Market is expected to grow at compound annual growth rate of 21%

MRFR Press Release/- Market Research Future announced the publication of half cooked research report on Software as a Service Market. The global market for Software as a Service is majorly driven by factors such as easy access, convenience, fast and efficient operation among others. 

Market Highlights

Software as a Service market is growing tremendously owing to factors such as wide adoption of on-demand software in various industries and increase in number of startup companies in various domains around the world. SaaS is a delivery model which helps the user to utilize all the available feature of any program over cloud. This model also eliminates the licensing any software as companies provides the remote access to their clients over the internet. Fast and reliable, easy customization and low cost are some of the factors which is helping the market growth whereas factors such as believe in traditional software model and security loopholes are some of the drawbacks which is expected to restraint the market growth.

Software as s Service can be deployed on various platform. This report include detail study of platform such as public cloud, private cloud, hybrid cloud and community cloud. As of now, private cloud and public are showing major positive trend and companies are understanding the system of hybrid cloud. Community cloud holds the fourth position in the market.

This report also include the detailed study of end user segment. Market Research Future analysis show that SMEs are showing more interest in SaaS due to the subscription model and low cost whereas large enterprises area still developing the roadmap for adoption of SaaS models in their business environment.

The major players operating in the market of Software as a Service are- Salesforce (U.S.), LinkedIn (U.S.), Concur Technologies (U.S.), Workday, Inc. (U.S.), IBM Corporation (U.S), Oracle Corporation (U.S.), NetSuite Inc. (U.S.), Medidata Solutions (U.S.), ServiceNow, Inc. (U.S.), Microsoft Inc. (U.S.), Google Inc. (U.S.), Zuora (U.S.) among others.

Market Research Future Analysis:

The Global Software as a Service Market is estimated to grow at US ~$117 billion by the end of forecast period with compound annual growth rate of ~21%. Countries such as U.S. U.K. Germany, Canada, Italy, France, China, Japan and India are some of the biggest revenue contributor in the global market. One Analyst from MRFR has quoted that “Currently, North America is dominating the market of Software as a Service and by looking at current scenario, it is expected that North America will continue to dominate the market throughout the forecast period” Europe holds second biggest market position whereas Asia-Pacific has emerged as fastest growing market due to the favorable startup environment in India and China. 

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Akash Anand,

Market Research Future

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