Software as a Service (SaaS) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Software as a Service (SaaS) Market
The Software as a Service (SaaS) market size was valued at USD 273.55 billion in 2023, and the market is now projected to grow from USD 317.55 billion in 2024 to USD 1228.87 billion by 2032, exhibiting a CAGR of 18.4% during the forecast period of 2024-2032.
The COVID-19 widespread disturbed worldwide economies, inciting lockdowns and inaccessible work approaches. This fueled the request for Software as a Benefit (SaaS) solutions like Microsoft Office 365. Essentially, the prioritization of COVID-19 control over elective surgeries is driven by decay in restorative methods, affecting segments like orthopedics and dentistry, subsequently preventing the growth of the SaaS market. Agreeing to an overview conducted by an industry master in 2020, 56% of supply chain coordination companies arrange to contribute more in determining due to the impacts of the widespread, highlighting the move Software as a Service (SaaS) market growth for improved effectiveness and flexibility.
The surge in appropriation of open and half-breed cloud-based instruments by endeavors could be a key driver for Software as a Service (SaaS) market share development. This move improves the framework's unwavering quality, especially in light of pandemic-induced challenges. Eminently, major firms like Microsoft Sky Blue are facilitating this move by facilitating occasions just like the Commercial Center Summit, enabling Autonomous Computer program Merchants (ISVs) and SaaS suppliers to use the Microsoft Cloud for end-to-end security and commercial center openings. Moreover, divisions like Keeping Money, Money-related Services, and Protections (BFSI) are grasping cloud-based arrangements to remain competitive, comply with controls, and oversee costs, advance supporting the request for SaaS offerings.
The integration of AI and ML with SaaS arrangements is balanced to be a noteworthy market slant, revolutionizing operational proficiency and insights into businesses. This change will engage undertakings to tailor and robotize arrangements, support security measures, and expand human capabilities. For illustration, Nokia's activity to upgrade its SaaS portfolio guarantees rearranged information administration and more proficient errand execution for Communication Benefit Suppliers (CSPs) and businesses.
Comprehensive Analysis of Software as a Service (SaaS) Market
The expanding selection of SaaS-based advances in crossover sending is set to pick up footing within the market, especially in government segments, managing an account, and other institutions. Arrangements just like the move from ""Cloud to Begin with"" to ""Cloud Keen"" are driving this development, with nearby overviews showing a solid slant towards half-breed cloud and multi-cloud methodologies. So also, streamlining information through substance, collaboration, and communication devices is also quickening market development, with organizations recognizing the basic part of collaboration to extend victory. Moreover, the on-demand SaaS demonstration is fueling critical development in SMEs, with new businesses like Taclia securing subsidies to digitize administration forms. Additionally, headways in telemedicine innovations are impelling the healthcare sector forward, with cloud services encouraging real-time information experiences and workflow advancements, as proven by organizations like HCA Healthcare's collaboration with Google Cloud. These patterns emphasize the energetic openings forming the SaaS advertise over arrangement sorts, applications, undertaking sorts, and businesses.
The North America overwhelms the Program as a Service market share , market size of USD 131.18 billion in 2023 due to fueled by the nearness of major players and early appropriation of progressed advances like AI and IoT. The locale is set to preserve its lead with advancements transforming customer services, especially within the U.S., which gloats around 17,000 SaaS companies.
Key players within the Software as a Service (SaaS) market are significant in forming the innovative scene and extending market skylines. Letter set Inc., Amazon.com, Inc., and Microsoft Enterprise are among the key players driving advancement and market growth. Through vital mergers and acquisitions, these companies point to upgrade their worldwide nearness and cater to differing client needs. Also, noteworthy improvements such as Oracle's Keeping money Cloud Services and IBM Corporation's Cloud Modernization Center emphasize the industry's dynamism and commitment to conveying cutting-edge arrangements.
In June 2022, Hewlett Packard Undertaking reported stage improvements and novel cloud services to its lead item, HPE GreenLake, which pointed at conveying a cloud-native encounter to drive crossover techniques, subsequently improving organizational information and applications.
Segmentation Table
Global Software as a Service (SaaS) Market Scope
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 18.4% from 2024-2032
Unit Value (USD Billion)
Segmentation By Deployment Type, By Application, By Enterprise Type, By Industry, and By Region
By Deployment Type Public
Private
Hybrid
By Application Customer Relationship Management (CRM)
Enterprise Resource Planning (ERP)
Content, Collaboration & Communication
BI & Analytics
Human Capital Management
Others (HRM, Operation Management)
By Enterprise Type
Large Enterprises
SMEs
By Industry IT & Telecom
BFSI
Retail & Consumer Goods
Healthcare
Education
Manufacturing
Others (Travel & Hospitality)
By Region North America (Deployment Type, Application, Enterprise Type, Country)
- U.S.
- Canada
- Mexico
South America (Deployment Type, Application, Enterprise Type, Industry, Country)
- Brazil
- Argentina
- Rest of South America
Europe (Deployment Type, Application, Enterprise Type, Industry, Country)
- U.K.
- Germany
- Italy
- France
- Russia
- Spain
- Benelux
- Nordics
- Rest of Europe
Middle East & Africa (Deployment Type, Application, Enterprise Type, Industry, Country)
- Turkey
- GCC
- Israel
- North Africa
- South Africa
- Rest of the Middle East & Africa
Asia Pacific (Deployment Type, Application, Enterprise Type, Industry, Country)
- China
- Japan
- India
- South Korea
- ASEAN
- Oceania
- Rest of Africa Pacific
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Software as a Service (SaaS) Key Players Market Share/Ranking, 2023
- 5. Global Software as a Service (SaaS) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Deployment Type (USD)
- 5.2.1. Public
- 5.2.2. Private
- 5.2.3. Hybrid
- 5.3. By Application (USD)
- 5.3.1. Customer Relationship Management (CRM)
- 5.3.2. Enterprise Resource Planning (ERP)
- 5.3.3. Content, Collaboration & Communication
- 5.3.4. BI & Analytics
- 5.3.5. Human Capital Management
- 5.3.6. Others
- 5.4. By Enterprise Type (USD)
- 5.4.1. Large Enterprises
- 5.4.2. SME’s
- 5.5. By Industry (USD)
- 5.5.1. IT & Telecom
- 5.5.2. BFSI
- 5.5.3. Retail & Consumer Goods
- 5.5.4. Healthcare
- 5.5.5. Education
- 5.5.6. Manufacturing
- 5.5.7. Others (Travel & Hospitality, etc.)
- 5.6. By Region (USD)
- 5.6.1. North America
- 5.6.2. South America
- 5.6.3. Europe
- 5.6.4. Middle East & Africa
- 5.6.5. Asia Pacific
- 6. North America Software as a Service (SaaS) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Deployment Type (USD)
- 6.2.1. Public
- 6.2.2. Private
- 6.2.3. Hybrid
- 6.3. By Application (USD)
- 6.3.1. Customer Relationship Management (CRM)
- 6.3.2. Enterprise Resource Planning (ERP)
- 6.3.3. Content, Collaboration & Communication
- 6.3.4. BI & Analytics
- 6.3.5. Human Capital Management
- 6.3.6. Others
- 6.4. By Enterprise Type (USD)
- 6.4.1. Large Enterprises
- 6.4.2. SME’s
- 6.5. By Industry (USD)
- 6.5.1. IT & Telecom
- 6.5.2. BFSI
- 6.5.3. Retail & Consumer Goods
- 6.5.4. Healthcare
- 6.5.5. Education
- 6.5.6. Manufacturing
- 6.5.7. Others (Travel & Hospitality, etc.)
- 6.6. By Country (USD)
- 6.6.1. United States
- 6.6.2. Canada
- 6.6.3. Mexico
- 7. South America Software as a Service (SaaS) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Deployment Type (USD)
- 7.2.1. Public
- 7.2.2. Private
- 7.2.3. Hybrid
- 7.3. By Application (USD)
- 7.3.1. Customer Relationship Management (CRM)
- 7.3.2. Enterprise Resource Planning (ERP)
- 7.3.3. Content, Collaboration & Communication
- 7.3.4. BI & Analytics
- 7.3.5. Human Capital Management
- 7.3.6. Others
- 7.4. By Enterprise Type (USD)
- 7.4.1. Large Enterprises
- 7.4.2. SME’s
- 7.5. By Industry (USD)
- 7.5.1. IT & Telecom
- 7.5.2. BFSI
- 7.5.3. Retail & Consumer Goods
- 7.5.4. Healthcare
- 7.5.5. Education
- 7.5.6. Manufacturing
- 7.5.7. Others (Travel & Hospitality, etc.)
- 7.6. By Country (USD)
- 7.6.1. Brazil
- 7.6.2. Argentina
- 7.6.3. Rest of South America
- 8. Europe Software as a Service (SaaS) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Deployment Type (USD)
- 8.2.1. Public
- 8.2.2. Private
- 8.2.3. Hybrid
- 8.3. By Application (USD)
- 8.3.1. Customer Relationship Management (CRM)
- 8.3.2. Enterprise Resource Planning (ERP)
- 8.3.3. Content, Collaboration & Communication
- 8.3.4. BI & Analytics
- 8.3.5. Human Capital Management
- 8.3.6. Others
- 8.4. By Enterprise Type (USD)
- 8.4.1. Large Enterprises
- 8.4.2. SME’s
- 8.5. By Industry (USD)
- 8.5.1. IT & Telecom
- 8.5.2. BFSI
- 8.5.3. Retail & Consumer Goods
- 8.5.4. Healthcare
- 8.5.5. Education
- 8.5.6. Manufacturing
- 8.5.7. Others (Travel & Hospitality, etc.)
- 8.6. By Country (USD)
- 8.6.1. United Kingdom
- 8.6.2. Germany
- 8.6.3. France
- 8.6.4. Italy
- 8.6.5. Spain
- 8.6.6. Russia
- 8.6.7. Benelux
- 8.6.8. Nordics
- 8.6.9. Rest of Europe
- 9. Middle East & Africa Software as a Service (SaaS) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Deployment Type (USD)
- 9.2.1. Public
- 9.2.2. Private
- 9.2.3. Hybrid
- 9.3. By Application (USD)
- 9.3.1. Customer Relationship Management (CRM)
- 9.3.2. Enterprise Resource Planning (ERP)
- 9.3.3. Content, Collaboration & Communication
- 9.3.4. BI & Analytics
- 9.3.5. Human Capital Management
- 9.3.6. Others
- 9.4. By Enterprise Type (USD)
- 9.4.1. Large Enterprises
- 9.4.2. SME’s
- 9.5. By Industry (USD)
- 9.5.1. IT & Telecom
- 9.5.2. BFSI
- 9.5.3. Retail & Consumer Goods
- 9.5.4. Healthcare
- 9.5.5. Education
- 9.5.6. Manufacturing
- 9.5.7. Others (Travel & Hospitality, etc.)
- 9.6. By Country (USD)
- 9.6.1. Turkey
- 9.6.2. Israel
- 9.6.3. GCC
- 9.6.4. North Africa
- 9.6.5. South Africa
- 9.6.6. Rest of MEA
- 10. Asia Pacific Software as a Service (SaaS) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Deployment Type (USD)
- 10.2.1. Public
- 10.2.2. Private
- 10.2.3. Hybrid
- 10.3. By Application (USD)
- 10.3.1. Customer Relationship Management (CRM)
- 10.3.2. Enterprise Resource Planning (ERP)
- 10.3.3. Content, Collaboration & Communication
- 10.3.4. BI & Analytics
- 10.3.5. Human Capital Management
- 10.3.6. Others
- 10.4. By Enterprise Type (USD)
- 10.4.1. Large Enterprises
- 10.4.2. SME’s
- 10.5. By Industry (USD)
- 10.5.1. IT & Telecom
- 10.5.2. BFSI
- 10.5.3. Retail & Consumer Goods
- 10.5.4. Healthcare
- 10.5.5. Education
- 10.5.6. Manufacturing
- 10.5.7. Others (Travel & Hospitality, etc.)
- 10.6. By Country (USD)
- 10.6.1. China
- 10.6.2. India
- 10.6.3. Japan
- 10.6.4. South Korea
- 10.6.5. ASEAN
- 10.6.6. Oceania
- 10.6.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Alphabet Inc.
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/Service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Amazon.com, Inc.
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/Service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Microsoft Corporation
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/Service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. IBM Corporation
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/Service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Salesforce Inc.
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/Service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. SAP SE
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/Service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Oracle Corporation
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/Service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Cisco Systems, Inc.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/Service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Hewlett Packard Enterprise Company
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/Service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. ServiceNow, Inc.
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/Service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
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