The global software as a service (SaaS) market size was US$ 144.17 billion in 2021. The global software as a service (SaaS) market size is forecast to reach US$ 703.19 billion by 2030, growing at a compound annual growth rate (CAGR) of 18.83% during the forecast period from 2022 to 2030.

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Software as a Service refers to a licensing and delivery model where software is licensed on a subscription basis and hosted centrally. It’s also known as “on-demand” software. A SaaS solution is a cloud-based service accessed through an internet browser instead of downloading and installing software on a PC or business network. Accessibility, compatibility, and operational management are the main advantages of SaaS software. Furthermore, SaaS offers lower upfront costs than traditional download and installation models, making them more accessible to businesses of all sizes making it easier for smaller companies to disrupt existing markets while empowering suppliers.

Factors Influencing Market Growth

• Growing smartphone usage and apps-based services are boosting the overall market’s growth.


• A rise in public and hybrid cloud adoption is propelling the growth of the global SaaS market.


• Globally, the increasing trend of business outsourcing, coupled with the adoption of artificial intelligence (AI) and machine learning (ML) across industries like BFSI, healthcare, and IT & telecom, provide lucrative opportunities for global market growth in the future.


• The lack of security of cloud data and the high cost associated with the implementation and maintenance of SaaS platform solutions may slow down the global market growth.

Impact Analysis of COVID-19

The COVID-19 pandemic had a positive impact on SaaS adoption globally. As a result of government lockdowns, companies focused on advanced technology such as artificial intelligence (AI), machine learning (ML), internet of things (IoT), cloud computing, and analytics across industries to implement contactless technology. Due to this factor, demand for SaaS-based software or services increased, which drove the growth of the SaaS market worldwide. The pandemic has also introduced considerable challenges for companies trying to implement key processes, report accurately with data spread over multiple locations, operate complex systems, and communicate effectively with teammates without the proper infrastructure. As a result, more companies were investing in SaaS platforms. As a result of SaaS’s unlimited scalability and continual enhancement of functionality, it assists companies in achieving digital transformation, which boosts global market growth.

Regional Insights

North America dominated the SaaS Market in 2020, and it is forecast to continue dominating during the forecast period. In the region, a large number of organizations, including healthcare organizations, retail & consumer goods stores, and others, have invested heavily in cloud-based SaaS solutions. In addition, North American countries such as the US and Canada have major SaaS vendors. In order to strengthen their product offerings and grow their client base, market players are entering into partnerships with technology providers.

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Leading Competitors

The leading prominent companies profiled in the global software as a service (SaaS) market are:

• Accenture plc.


• Adobe Incorporated


• Cisco Systems, Incorporated


• Google LLC


• IBM Corporation


• Microsoft Corporation


• Oracle Corporation


• Salesforce.com, Incorporated


• SAP SE


• ServiceNow


• Other Prominent Players

Scope of the Report

The global software as a service (SaaS) market segmentation focuses on Solution Type, Deployment Mode, Organization Size, Industry Vertical, and Region.

Segmentation based on Solution Type

• Customer Relationship Management (CRM)


• Enterprise Resource Planning (ERP)


• Operation Management


• Human Resource Management (HRM)


• Supply Chain Management (SCM)


• Others

Segmentation based on Deployment Mode

• Public Cloud


• Private Cloud


• Hybrid

Segmentation based on Organization Size

• Large Enterprises


• Small & Medium-sized Enterprises (SMEs)

Segmentation based on Industry Vertical

• BFSI


• Manufacturing


• IT & Telecom


• Retail & E-Commerce


• Energy & Utility


• Healthcare


• Media & Entertainment


• Others

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Segmentation based on Region

• North America


• The U.S.


• Canada


• Mexico


• Europe


• Western Europe


• The UK


• Germany


• France


• Italy


• Spain


• Rest of Western Europe


• Eastern Europe


• Poland


• Russia


• Rest of Eastern Europe


• Asia Pacific


• China


• India


• Japan


• Australia & New Zealand


• ASEAN


• Rest of Asia Pacific


• Middle East & Africa (MEA)


• UAE


• Saudi Arabia


• South Africa


• Rest of MEA


• South America


• Brazil


• Argentina


• Rest of South America

Table of Content:

• Report Overview


• Global Growth Trends


• Competition Landscape by Key Players


• Data Segments


• North America Market Analysis


• Europe Market Analysis


• Asia-Pacific Market Analysis


• Latin America Market Analysis


• Middle East & Africa Market Analysis


• Key Players Profiles Market Analysis


• Analysts Viewpoints/Conclusions


• Appendix

Software as a Service (SaaS) Market Research Report Scenario includes:

>The report provides qualitative and quantitative trends of global Software as a Service (SaaS) Market across type, type of products, service, and geography.

>The report starts with the key takeaways, highlighting the key trends and outlook of the global Software as a Service (SaaS) Market.

>Provides the research methodology of the study.

>Further provides PEST analysis for each region.

>Highlights the key industry dynamics in the Software as a Service (SaaS) Market, including factors that are driving the market, prevailing deterrent, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.

>Discusses the global Software as a Service (SaaS) Market scenario, in terms of historical market revenues, and forecast till the year 2031.

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