Software as a Service (SaaS) Market Insights, Current And Future Market Trends & Forecast Till 2027

The GMI Research forecasts that the software as a service market is witnessing an upsurge in demand during the forecast period. This is mainly due to the rising adoption of public and hybrid cloud, growing usage of tablets, smartphones, and laptops, and the increasing business outsourcing.

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Top Manufacturers in the Software as a Service (SaaS) Market:

· IBM Corporation

· Microsoft Corporation

· SAP SE

· Oracle Corporation

· Salesforce.com, Inc.

· Cisco Systems, Inc.

· Amazon Web Services Inc.

· Hewlett Packard Enterprise Development LP

· Infor, Inc.

· VMware, Inc.

· SolutionsDots Systems ltd.

· Symantec Corporation

Software as a Service (SaaS) Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The rising adoption of public and hybrid cloud, growing usage of tablets, smartphones, and laptops, and the increasing business outsourcing are some of the major factors surging the growth of the global Software as a Service market size. According to SaaS market report, the growing penetration of emails, video calls, and instant messaging applications will enhance the demand for smart devices that include tablets and smartphones among the end-users. Thereby, the strong demand among the consumers who are searching for software with remote access options at a lower cost will boost the demand for SaaS solutions globally.

The growing usage of mobile apps for payments, food delivery, and healthcare services is one of the emerging trend SaaS market trend which is leading to an upsurge in demand for SaaS-based mobile apps that are cost-efficient. The emerging trend of business outsourcing and rapid globalization is promoting enterprises to increase their global footprint to capture the rising demand of the consumers. Several companies are actively looking for reliable business data software to improve their workforce investment strategies and to detect problems and their solution are the factors accelerating the growth of the SaaS market share in terms of revenue. In addition to this, the growing adoption and incorporation of Artificial intelligence (AI) with SaaS as it enhances security level and provides specifications such as easy customization at a lower cost, will attract many end-users towards the market. SaaS provides remarkable benefits such as reduce license costs of software and hardware, decreases the time spent in installation and configuration. It also offers accessibility, compatibility, scalability, and easy installation and up-gradation specifications. On the other hand, the major factor hampering the growth of the market include complexity with regulations compliance and rising data security concerns.

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Software as a Service (SaaS) Market Segmentation:

Segmentation by End-User:

· Manufacturing

· Healthcare

· IT & Telecom

· Retail

· Education

· Government

· BFSI

· Oil & Gas

Segmentation by Application:

· Customer Relationship Management (CRM)

· Human Resource Management (HRM)

· Financial Management

· Sales Management

· Enterprise Resource Planning (ERP)

· Supply Chain Management

Segmentation by Deployment Type:

· Public Cloud

· Private Cloud

· Hybrid Cloud

Segmentation by Organisation Size:

· Small and Medium Enterprises

· Large Enterprises

Segmentation by Region:

· North America

o United States of America

o Canada

· Asia Pacific

o China

o Japan

o India

o Rest of APAC

· Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

· RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

o Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a leading market research company that offers market research reports for every industry. Our research teams have seasoned analysts and researchers and are always looking for industry-leading research techniques to create all-encompassing research reports. GMI Research's extensive global network allows it to collect relevant information about the industry on a regional as well as country-level basis. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of sectors. We provide step-by-step assistance to our clients through strategic and consulting services to reach a managerial and actionable decision. Our market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, major factors impacting the market growth, and various market insights to aid companies to make strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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