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Technavio's Software as a Service (SaaS) Market Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers


NEW YORK, Jan. 12, 2022 /PRNewswire/ — The latest research report “https://www.technavio.com/report/software-as-a-service-saas-market-size-industry-analysis “, by Technavio infers the market to be driven positively by the augmenting use of mobile apps. The report also suggests the software as a service (SaaS) market witnessed an accelerating growth momentum at a CAGR of over 11% during the forecast period. 

Resulting in the market growth of USD 99.99 billion from 2021 to 2025, read additional information about the market, Get a FREE sample report 

Vendor Landscape

The software as a service (SaaS) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

  • Accenture Plc
  • Adobe Inc.
  • Alphabet Inc.
  • Amazon.com Inc.
  • Hewlett Packard Enterprise Development LP
  • International Business Machines Corp.
  • Microsoft Corp.
  • Oracle Corp.
  • Salesforce.com Inc.
  • SAP SE

View more about the market’s vendor landscape highlights with a comprehensive list of vendors and their offerings.

Key Market Segmentation

  • Segmentation by Cloud: 
    • Public Cloud: 
      • Public SaaS computing comprises entire software applications that are made available to clients over the Internet. IT services are delivered via the public cloud via the Internet or virtualization. Third-party suppliers provide these IT services. Multi-tenant buildings that desire to use or buy them can do so. Vendors charge a monthly subscription fee based on the number of computing resources used.
      • The public cloud is becoming more popular as a result of its elasticity and scalability, which are ideal for IT-enabled businesses. Public cloud offerings include Microsoft Office 365 and Slack IPO, to name a few. Vendors that provide the public cloud offer software programs and applications such as ERP, CRM, and HRM, which can be used by enterprises.

Request a FREE Sample of this report for more highlights into the market segments.

Regional Market Outlook

52% of the market’s growth will originate from North America during the forecast period.  The US is the key market for the software as a service (SaaS) market in North America. North America was one of the first regions to adopt public cloud services, which were first presented over a decade ago. The growing need for cloud computing services in the United States is one of the main reasons behind the rise in SaaS demand. The availability of technologically advanced infrastructure, as well as the existence of a large number of cloud service providers (CSPs) based in the US, such as Microsoft, Salesforce, Oracle, and Adobe, will fuel market expansion in the region. Businesses in the region are investing in IT to develop corporate apps that will help them optimize their operations. SaaS solutions provide one-click access to various forms of software, including ERP, CRM, and HRM, using web browsers.  The flexibility of SaaS solutions makes them suitable for temporary workloads and workloads that are experimental or prone to change unexpectedly.

Furthermore, countries such as North America, Europe, APAC, South America, and MEA are expected to emerge as prominent markets for the software as a service (SaaS) market during the forecast period. 

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Trends, Driving the Software as a Service (SaaS) Market

  • Market Driver:
    • Augmenting use of mobile apps
      • AI-enabled SaaS solutions help end-user businesses to get more value out of their data. Live chatbots, which are AI-powered SaaS, allow businesses to give tailored and automated services to their clients. Internal processes and operations are also sped up with AI-enabled SaaS. Because AI-enabled SaaS can create a speedy response to possible danger, it has increased security. The advantages allow businesses to better their internal operations. The advantages will enhance the adoption of AI-enabled SaaS, which will promote the SaaS market’s growth.
  • Market Trend:
    • Increasing use of vertical SaaS
      • Vertical SaaS is best suited for industries like retail, insurance, and car manufacturing.  Vertical SaaS for certain industries is cost-effective and allows for finer customization. It can generate industry-specific customer data and insight, which is critical for businesses to meet their niche’s client need.
      • To grow their customer base, vendors are always concentrating on providing vertical SaaS with features customized to client demands. During the foreseeable period, such factors will boost demand for vertical SaaS.

Find additional information about various other market drivers & trends mentioned in our FREE sample report.

Need More? Are You Looking for Information Not Covered in This Report?

  • Want to understand more about the various research methodology?
  • Evaluate a specific segment or region in detail
  • Identify key suppliers, customers, or other market players
  • Analyze market regulations

Tailor this report according to your needs. Get it done with our $1000 worth of free customization. Speak to Our Analyst Now!

Related Reports:

HR Payroll Software Market by Deployment and Geography – Forecast and Analysis 2022-2026

Enterprise Application Software Market by Deployment and Geography – Forecast and Analysis 2022-2026

Software As A Service (SaaS) Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 11%

Market growth 2021-2025

$ 99.99 billion

Market structure

Fragmented

YoY growth (%)

11.71

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 52%

Key consumer countries

US, UK, Germany, Japan, China, and India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Accenture Plc, Adobe Inc., Alphabet Inc., Amazon.com Inc., Hewlett Packard Enterprise Development LP, International Business Machines Corp., Microsoft Corp., Oracle Corp., Salesforce.com Inc., and SAP SE

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/

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