ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Global Software As a Service (SaaS) Markets, Competition, Forecast & Opportunities Report 2021-2026 - ResearchAndMarkets.com

November 1, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Nov 1, 2021--

The “Global Software As a Service (SaaS) Market, Forecast & Opportunities, 2026” report has been added to ResearchAndMarkets.com’s offering.

Global Software as a Service (SaaS) market is expected to grow at a double digit CAGR during the forecast period

Software as a Service (SaaS) comprises of a model in which software and other associated data is hosted centrally and customers can access it with the help of web browser. This model allows user to gain access to various features of a software with the help of a subscription model and without worrying about the product licenses.

ADVERTISEMENT

The emergence of messaging applications, emails and video calls have made the end users to depend on smartphones, therefore people are looking for remote access at reasonable costs, thereby driving Software as a Service (SaaS) market, globally. Also, the rising use of mobile apps for food delivery, payments, and healthcare services is expected to increase the demand for SaaS based mobile apps.

The growing trend of business outsourcing and globalization is encouraging enterprises to expand themselves to capture the increasing demand from customers. The growing data security concerns and complex regulation compliance might hamper the growth of the market.

Global Software As a service (SaaS) market is segmented based on deployment type, organization size, application, end-user and region. Based on deployment type, public cloud segment dominated the market in 2020.

The major reason for their dominance is their cost-effectiveness, and also the fact that they are easy and quick to integrate, eliminate the maintenance cost and enhance security. Based on organization size, SMEs segment is expected to account for the largest share until 2026 as it offers maximum benefit to SMEs by reducing the hardware and software costs and eliminates the licensing and maintenance charges.

Based on application, the human resource management segment is expected to account for the dominant share through 2026 as SaaS based human resource application provides a systematic management to all the HR based activities such as employee attendance management, notices and announcements, employee tracking and recruitment.

ADVERTISEMENT

Regionally, North America dominated the global software as a service (SaaS) market and the trend is expected to continue until 2026. The rising demand for cloud computing related activities and growing adoption of SaaS among various government organizations is responsible for the growth in software as a service (SaaS) market of North America.

The companies operating in the market are using both inorganic and organic strategies to increase their share in the market.

Objective of the Study:

  • To analyze and estimate the market size of global Software as a Service (SaaS) market from 2016 to 2020.
  • To estimate and forecast the market size of global Software as a Service (SaaS) market from 2021 to 2026 and growth rate until 2026.
  • To classify and forecast global Software as a Service (SaaS) market based on type of deployment, organization size, application, end-user, company and regional distribution.
  • To identify dominant region or segment in the global Software as a Service (SaaS) market.
  • To identify drivers and challenges for global Software as a Service (SaaS) market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global Software as a Service (SaaS) market.
  • To identify and analyze the profile of leading players operating in global Software as a Service (SaaS) market.
  • To identify key sustainable strategies adopted by market players in global Software as a Service (SaaS) market.

Major players operating in the global software as a service (SaaS) market include

  • IBM Corporation
  • Microsoft Corporation
  • SAP SE
  • Oracle Corporation
  • Salesforce.com, Inc.
  • Cisco Systems, Inc.
  • Amazon Web Services, Inc.
  • Hewlett Packard Enterprise Development LP
  • Alphabet Inc.
  • VMWare, Inc.

Key Target Audience:

  • Software as a service provider companies, vendors and other stakeholders
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums and alliances related to software as a service (SaaS)
  • Market research and consulting firms

Report Scope:

Years considered for this report:

  • Historical Years: 2016-2019
  • Base Year: 2020
  • Estimated Year: 2021
  • Forecast Period: 2022-2026

Global Software as a Service (SaaS) Market, By Deployment Type

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

Global Software as a Service (SaaS) Market, By Organization Size

  • SMEs
  • Large Enterprises

Global Software as a Service (SaaS) Market, By Application

  • Customer Relationship Management
  • Human Resource Management
  • Financial Management
  • Sales Management
  • Enterprise Resource Planning
  • Supply Chain Management

Global Software as a Service (SaaS) Market, By End-User

  • Manufacturing
  • Healthcare
  • IT & Telecom
  • Retail
  • Education
  • Government
  • BFSI
  • Oil & Gas

Global Software as a Service (SaaS) Market, By Region

  • North America
  • United States
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • South America
  • Brazil
  • Argentina
  • Colombia

For more information about this report visit https://www.researchandmarkets.com/r/pg07ox

View source version on businesswire.com:https://www.businesswire.com/news/home/20211101005657/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 11/01/2021 10:14 AM/DISC: 11/01/2021 10:14 AM

http://www.businesswire.com/news/home/20211101005657/en