Global software as a service market is expected to rise to an estimated value of USD 272.70 billion by 2026, registering a healthy CAGR in the forecast period of 2020-2026. Software as a service (SaaS) can be defined as a collection of software for cloud computing provided by a third-party IT organization through the internet. These services are delivered in a specific model to the consumers availing the subscription service for the software.
This software service is hosted centrally from the host provider and the collective service is provided to the customer on-demand. This service was developed to remove/reduce the requirement of having to integrate the software as an application on their individual servers significantly reducing the cost of deployment.
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Major Market Competitors/Players
Few of the major competitors currently working in the global software as a service market are Symantec Corporation; Google; FUJITSU; Amazon Web Services, Inc.; Freshworks Inc.; IBM Corporation; HP Development Company, L.P.; Micro Focus; Oracle; Adobe; Cisco Systems, Inc.; Xero Limited; TABLEAU SOFTWARE; SAP SE; Microsoft; Salesforce.com, inc.; Workday, Inc.; Infor; Avaya Inc.; Epicor Software Corporation; RACKSPACE US, INC.; ServiceNow; Zuora Inc.; ADP, LLC. and Blackboard Inc. among others.
Segmentation: Global Software as a Service Market
- By Deployment Model (Private Cloud, Public Cloud, Hybrid Cloud)
- By Organization Size (Large Enterprises, SMEs)
- By Application (CRM, ERP, Operations & Manufacturing, BIM, Web Conferencing, ECM, Enterprise Asset Management, HCM, UC&C, Finance & Accounting, Structured Data Management, Collaboration, Security, System/Network Management, Engineering, Storage Software, Application Server Middleware, Integration & Process Automation Middleware, Quality & Lifecycle Tools, Business Process Management, HRM, SCM, Others)
- By End-Users (Manufacturing, BFSI, Healthcare, Travel & Hospitality, Retail, Government, Utilities, IT & Telecommunications, Education, Professional Services, Others)
- By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)
Competitive Analysis
Global software as a service market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of software as a service market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Drivers:
- Increased demand for cost-effective solutions that require lower consumption of resources while delivering equally effective product offerings
- Better deployment with unique customized offerings of these offerings is expected to drive the growth of the market
- Increased demand from various end-users to reduce their organizational costs while availing equally effective services is boosting the growth of the market
- Reduced costs of hardware, maintenance individual licenses for each software is also expected to foster growth of the market
Market Restraints:
- Varied concerns regarding security and infrastructural concerns related to privacy are factors expected to restrict the adoption
- Requirement of high-speed internet service for the effective integration and utilization of this service is also expected to restrain the market growth
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Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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As per Market Research Future (MRFR) analysis, the global software as a service market is estimated to grow at USD 117 billion, with a compound annual growth rate of 21% from 2016 to 2022 (forecast period).
The report examines the COVID-19 analysis of the global software as a service market and presents a comprehensive evaluation of key markets, market trends, growth projections, and economic conditions from 2016 to 2022 (forecast period) to identify new opportunities in the market.Software as a Service is a cloud-based software delivery model in which software and related data are centrally hosted and accessed by clients via a web browser.
The concept of software as a service enables users to access all the components and functionality of the subscription model software and not without licensing the product.
In other terms, it is on-demand software that offers remote software access to its users over the Internet.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/2003Market DynamicsThe rising IT industry and the high demand for data management and analysis tools in various domains are adding to the growth of the software as a service market.
SaaS provides a range of features, including low cost, speed deployment, customization, and data access, among others.
SaaS offers a simple accessibility feature with speed deployment and a range of customizations that make it easier to operate.Market SegmentationThe global market for software as a service has been segmented on the basis of deployment, end-user, and Industry.On the basis of deployment, the global market for software as a service has been segmented into the public cloud, private cloud, hybrid cloud, and community cloud.On the basis of the end-user, the global software as a service market has been segmented into SMEs and large enterprises, among others.On the basis of Industry, the global market for Software as a Service (SaaS) has been segmented into IT & telecommunication, entertainment, BFSI, manufacturing, healthcare, retail, among others.Regional AnalysisOn the basis of region, the global market for software as a service has been segmented North America, Europe, Asia Pacific, and the rest of the world.
Market OverviewAs per the analysis presented by Market Research Future (MRFR), the global software as a service market is predicted to grow exponentially in the forthcoming years.
The convenience offered by the technology is one of the key factors responsible for driving the growth of the global market.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/2003The subscription model of the software has revolutionized the adoption of technology in every sector and industry.
The growing dependency on technology has fueled the demand for software service solutions and is likely to propel the expansion of the software as a service market over the assessment period.
is likely to favor the proliferation of the Software as a Service Market.Key PlayersThe major players operating in the market of Software as a Service Market are- Salesforce (U.S.), LinkedIn (U.S.), Concur Technologies (U.S.), Workday, Inc. (U.S.), IBM Corporation (U.S), Oracle Corporation (U.S.), NetSuite Inc. (U.S.), Medidata Solutions (U.S.), ServiceNow, Inc. (U.S.), Microsoft Inc. (U.S.), Google Inc. (U.S.), Zuora (U.S.) among others.Segments:The global software as a service market is studied by MRFR for various segments to arrive at specific and accurate analysis.
The Saas market is segmented into entertainment, BFSI, manufacturing, IT & telecommunication, retail, and healthcare on the basis of industry.Regional Analysis:The global SaaS market is studied for the regional segments of North America, Asia Pacific, Europe, and Rest of the World.
North America is assessed to dominate the global software as a service market owing to the presence of prominent players, hence, gaining a competitive advantage over other regions.
Security SaaS provides cloud-based content security like email security, encryption, web security, and identity and access management.
The market for security software as a service is expected to expand significantly during the forecast period due to the increasing acceptance of the BYOD (bring your own device) trend by companies, the increase in cyber-attacks and the high demand for cloud technology by small and large companies medium-sized companies will grow.
In the midst of the COVID-19 crisis, the network security industry is set for sustainable growth despite the foreseeable economic turmoil.
As digital infrastructure becomes a very critical aspect of business strategy considerations, network security becomes a competitive advantage for businesses and for overhauling their remote work strategies.
Free Sample Report + All Related Graphs & Charts @ : https://www.advancemarketanalytics.com/sample-report/160046-global-security-software-as-a-service-market Latest released the research study on Global Security Software as a Service Market offers a detailed overview of the factors influencing the global business scope.
Security Software as a Service Market research report shows the latest market insights with upcoming trends and breakdown of the products and services.
