Software as a Service (SaaS) Market is Projected to reach US$ 172.20 Bn in 2025 -Microsoft Corporation, Salesforce.com, Inc. SAP SE
The global SaaS market accounted for US$ 31.57 Bn in the year 2015 and is expected to grow at a CAGR of 18.6% during the forecast period 2016 – 2025, to account for US$ 172.20 Bn in the year 2025.
Adoptions of SaaS is expected to accelerate exponentially in the coming few years due to retail, hospitality, financial, technology and communications and healthcare industry verticals’ inclination towards transforming their legacy IT structures completely into a SaaS-based structure. Many SME’s and large scale industries in the above verticals have adopted SaaS-based solutions owing to the advantages it offers and are significantly contributing to SaaS market. Offering services at cheaper rates drive SME’s to adopt these solutions while providing redundancies and data privacy with less time to market the product are the reasons behind the large scale adoptions of SaaS-based solutions by large industries in all verticals are driving the SaaS market.
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Leading Vendors of SaaS Market are ADP, LLC, Amazon.com, Inc., Google, Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, Salesforce.com, Inc., SAP SE, Fujitsu Limited, Workday, Inc.
SaaS Market Insights
The Need for Huge Storage Spaces for Data is Driving SaaS Market
Small organizations venturing into new businesses cannot invest heavily for storage spaces. Even if they keep such huge investments only in storage spaces, they wouldn’t be able to then invest for their products. Break-even time would also have a bearing in the profitability of the organization. This is where the need and huge opportunity for a shared infrastructure for data storage, management and maintenance arises. SaaS model is a kind of shared infrastructure wherein such small organizations have to pay for on-demand usage of the software and need not store any data or purchase the software. This provides smaller organizations with a good opportunity cost. SaaS market players can take this opportunity to capitalize on the worldwide market here.
Software Artificial Intelligence (AI) and Automation of Bots are Having Significant Impact on SaaS Market
Infrastructure requirements are crucial for any technology to succeed. The ease of integration of technology with the existing infrastructure makes it much more popular. Considering the current scenario, it would be impractical to think that AI can become a convention in SaaS products without provisioning an AI infrastructure for its development. Also, hiring a team of AI specialists would not be feasible for small startups always. So, the commercialization of AI is only possible when either big players enter this market, or huge investments are made in this market. Currently, the major players are open-sourcing AI libraries, this combined with more and more emerging startups offering AI in the form of APIs. 2016 is expected to witness the growth of both trends. However, the scope for improvement is there and scope to improve the knowledge about the product should be considered as an opportunity for startups venturing out into these fields before easy to use & developer friendly APIs become ubiquitous.
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GLOBAL SaaS MARKET- SEGMENTATION
By Deployment Model
- Private Cloud
- Public Cloud
- Hybrid Cloud
By Applications
- Customer Relationship Management (CRM)
- Enterprise Resource Planning (ERP)
- Human Resource Management (HRM)
- Supply Chain Management (SCM)
- Others (Business Intelligence, Compliance, Messaging and Collaboration, Web Conferencing platforms)
By End-user
- Small & Medium Enterprises (SMEs) (<1B Revenue)
- Large Enterprises (>=1B Revenue)
By Geography
- North America : U.S, Canada, Mexico
- Europe: France, Germany, Italy, Spain, U.K Rest of Europe
- Asia Pacific (APAC): Japan, China, India, Australia, Rest of APAC
- Middle East & Africa (MEA): Saudi Arabia, South Africa, UAE, Rest of MEA
- South America (SAM): Brazil, Rest of SAM
Table of Contents
1.1 List of Tables
1.2 List of Figures
2 Introduction
2.1 The Insight Partners Research Report Guidance
3 Key Takeaways
4 Market Landscape
4.1 Overview
4.2 Market Segmentation
4.2.1 By Deployment Model
4.2.2 By Applications
4.2.3 By End user
4.2.4 By Geography
5 Software as a Service Market – Key Industry Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
6 Software as a Service Market- Porters Fiver Forces Analysis
6.1 Porters Five Forces Analysis
6.1.1 Bargaining Power of Suppliers
6.1.2 Bargaining Power of Buyers
6.1.3 Threat of Substitutes
6.1.4 Threat of New Entrants
6.1.5 Degree of Competition
To Be Continued…
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