Growing Adoption of Cloud Computing Technology in the Corporate Sector to Prove Usefulness for the Software as a Service (SaaS) Market; Increasing Emphasis on Improved Customer Relationship Management in Organizations to Grow the Fuel Market; Rising Demand for Higher Efficient Supply Chain Management Worldwide to Boost Market Prospects: Fortune Business Insights ™
The global SaaS market size is expected to grow at a huge rate as a result of the rising popularity of SaaS technology among organizations, according to Fortune Business Insights report ™, Worldwide “SaaS Market Size” is expected to reach USD 716.52 Billion in 2028, from 113.82 Billion in 2020, at a Compound Annual Growth Rate (CAGR) of 27.5% during the forecast period. entitled “Software as a Service (SaaS) Market Size, Share and Industry Analysis, By Cloud Deployment, By Application, By Industry Verticals and Regional Forecast, 2021-2028”.
Request a Sample Copy of the Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/software-as-a-service-saas-market-102222
SaaS Market Size Overview:
- USD 716.52 Billion in 2028
- USD 113.82 Billion by 2020
- CAGR: (2021-2028) 27.5%
- Base Year: 2020
Regional Analysis
Robust IT Infrastructure to Advance the Market in North America and Europe
In the region, North America and Europe are expected to lead the SaaS market share during the forecast period due to the smooth and seamless information and technology infrastructure and environment on these continents. Additionally, these regions are home to some of the largest technology companies in the world, which continue to produce advanced and smart technologies.
Together, these factors will drive market growth in North America and Europe. On the other hand, the SaaS market in Asia-Pacific will primarily encourage increasing awareness about the advantages of SaaS applications among organizations in India and China, which will stimulate their growth in the region.
Ang The SaaS Market Size report contains the following information:
- Elaborative overview of the overall industry outlook;
- Comprehensive research on key drivers and market trends;
- Detailed analysis of Software as barriers to the Service Market;
- Accurate calculation of relevant market figures; at
- Essential insights into the regional dynamics and competitive environment of Software as a Service Industry.
Click here to get the short-term and long-term impact of COVID-19 on this SaaS Market.
Please visit: https://www.fortunebusinessinsights.com/software-as-a-service-saas-market-102222
This surge in popularity of SaaS is due to the many advantages offered by this technology. For example, deploying SaaS applications requires virtually no upfront investment, as it eliminates the need for large infrastructure and hardware. Plus, these applications are maintained and powered through cloud systems, allowing vendors to change quickly and provide access to clients in a fast and cost-free manner. These solutions also provide immense flexibility. For example, each user can customize the application according to their business needs, without affecting or disrupting the standard infrastructure. Thus, the plethora of benefits offered by this technology boosts its use in industries and boosts the size of the SaaS market, growth in the process.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has had an unprecedented impact on businesses in industries. However, it will also pass. Rising support from governments and some companies could help fight this contagious disease. There are some industries that are struggling and there are thriving ones. In general, almost all sectors are expected to be affected by the pandemic.
We are constantly making efforts to help your business sustain and grow during the COVID-19 pandemic. Based on our experience and expertise, we will offer you an analysis of the impact of coronavirus outbreaks on industries to help you prepare for the future.
Market Restriction
Fears Surrounding Cyber Threats That Hinder SaaS Market Growth
With most organizations, large and small, uploading their data to virtual networks, the threat of cyber-attacks has gained tremendous weight in 21st century. Moreover, over the past few years, their frequency has grown manifold. For example, in May 2019, the billing service provider, the American Medical Collection Agency (AMCA), reported that its data pertaining to millions of patients was compromised after its records were hacked between August 2018 and March. 2019. Within hours months after AMCA’s announcement, Capital One, the banking and credit card major, admitted that details of credit scores, banking transactions, and Social Security numbers of millions of customers its stolen in July 2019.
Earlier in the same year, following the Cambridge Analytica scandal, Facebook confessed that more than 540 million records in its databases had been exposed to hackers. Thus, cloud computing systems, despite their vast benefits, have made data more vulnerable to cyber threats and endangered users ’privacy.
Competitive Landscape
Partnerships and Acquisitions to Describe Market Competition
This competitive market landscape is dominated by the presence of well -established and technological giants such as IBM and Google, whose financial strength allows them to invest in innovation. Moreover, these companies partner with small players, giving the latter the opportunity to diversify their offers and expand their presence in the SaaS market.
Industry Developments:
- November 2019: US -based hybrid cloud specialist, NetApp, has partnered with Google to make available its two flagship solutions, the NetApp Cloud Volumes ONTAP® and NetApp® Cloud Volumes Service, for Google Cloud. The partnership will also allow the company to provide support for Anthos on NetApp HCIto to help companies innovate in environments.
- September 2019: Microsoft announced its acquisition of a US -based cloud migration expert, Movere, to strengthen its cloud offerings. The acquisition will allow Microsoft to facilitate the migration of their customers ’applications and data to the Azure platform, with the goal of streamlining business transformation processes.
List of Players Covered in the Software as a Service (SaaS) Market Report:
- Splunk Inc.
- IBM Corporation
- Microsoft Corporation
- ServiceNow, Inc.
- SAP SE
- Google LLC
- Cisco Systems, Inc.
- Labor Day, Inc.
- Adobe
- com Inc.
Quick Buying SaaS Market Size Report:
https://www.fortunebusinessinsights.com/checkout-page/102222
About us:
Fortune Business Insights ™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We adapt innovative solutions for our clients, helping them address challenges that are different in their businesses. Our goal is to empower our clients with holistic market intelligence, providing a granular overview of the market in which they operate.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants uses industry-leading research tools and techniques to compile comprehensive market studies, which include relevant data.
At Fortune Business Insights ™, we aim to highlight the most lucrative growth opportunities for our clients. Therefore, we offer recommendations, making it easier for them to navigate through technology and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand existing competitive challenges.
Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Global SaaS Market Size [2021-2028] | to Reach USD 716.52 Billion and Show a CAGR of 27.5%