Global Software as a Service Market OverviewSoftware as a service refers to a delivery model of software through the cloud where the software and all the associated data is hosted on a central database and is accessible to clients through a web browser.
This concept of delivering a service through the use of a software enables the users to gain access to all the features and components of the software by subscribing and obtaining a license to the product.
Alternatively stating, it works as an on-demand software where remote access to the software is available for the users residing anywhere, as long as they have internet connectivity and a subscription.The global Software as a Service Market is estimated to showcase an impressive CAGR of 21% during the forecast period.
Factors accrediting to this market growth include the proliferating IT industry and flourishing demand for software for data management and analysis in several industrial verticals.
Additionally, the software as a service market is gaining traction due to rising demand for customized software solutions by numerous enterprises to meet their unique operational needs.
The report published by MRFR suggests that the global software as a service market is likely to reach a revenue mark of USD 117 billion by the end of 2022.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/2003Market Segmentation:By deployment, the global software as a service market has been segmented into public cloud, private cloud, hybrid cloud, and community cloud.By end-user, the global software as a service market has been segmented into SMEs and large enterprises.By industry, the software as a service market has been segmented into IT & telecommunication, entertainment, BFSI, manufacturing, healthcare, and retail.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.Regional Analysis:North America is dominating the market of Software as a Service Market due to various factors such as- presence of global players is giving competitive advantage to North American countries, rich entertainment industry and high adoption of on-demand software among others.