The global Software as a Service (SaaS) market is expected to grow at a compound annual growth rate (CAGR) of 13.2% during the forecast period. SaaS applications are typically more affordable than traditional on-premises software, as businesses only pay for the features they need on a subscription basis. This reduces upfront costs and offers predictable pricing. Traditional on-premises software often requires significant upfront investments in hardware, software licenses, and installation costs. This can be a financial burden for businesses, especially small and medium-sized enterprises (SMEs), making it difficult to access the latest software solutions. In contrast, SaaS applications offer a more affordable and flexible pricing model, typically based on a subscription fee. Businesses only pay for the features they need and the number of users they have, eliminating the need for large upfront investments. This subscription-based model provides several advantages. Businesses can start using SaaS applications with minimal upfront costs, as subscription fees are typically lower than the initial purchase price of traditional on-premises software. SaaS subscription plans can be scaled up or down as business needs change. Subscription-based pricing provides businesses with predictable ongoing expenses, enabling better financial planning and budgeting. 

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The affordability and flexible pricing of SaaS applications have made them a popular choice for SMEs. According to a study by Statista, 69% of SMEs use SaaS applications, with the most common applications being CRM (Customer Relationship Management), email, and project management tools. Adobe's Creative Cloud, a suite of design and creative tools, has seen widespread adoption due to its subscription-based pricing model. The company shifted from traditional on-premises licenses to a cloud-based subscription model, providing users with access to the latest software features and updates for a monthly fee. This move has been successful, with Creative Cloud generating over $8 billion in annual revenue for Adobe.

Global Software as a Service (SaaS) Market Report Segment

By Deployment Model

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

By Business Size

  • Small and medium-sized businesses (SMBs)
  • Enterprise

By Industry

  • BFSI
  • Healthcare
  • Retail
  • Manufacturing
  • IT and Telecommunications
  • Others (Media and entertainment, Transportation and logistics)

By Application

  • Business Applications
  • Productivity Applications
  • Collaboration Applications
  • Security Applications
  • Marketing Applications

A full report of Software as a Service (SaaS) Market available @ https://www.omrglobal.com/industry-reports/saas-market

Software as a Service (SaaS) Market Report Segment by Region

 

North America          

  • United States
  • Canada

Europe

  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • Rest of Europe

Asia-Pacific   

  • China
  • Japan
  • India
  • Rest of Asia-Pacific

Rest of the World

  • Middle East & Africa
  • Latin America

Company Profiles

 

·        Adobe

·        Anaplan, Inc.

·        Atlassian Pty Ltd.

·        Autodesk Inc.

·        Change Healthcare

·        CrowdStrike, Inc.

·        Datadog, Inc.

·        DocuSign, Inc.

·        Dynatrace, LLC

·        HubSpot, Inc.

·        Infor

·        Intuit Inc.

 

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