Westford, USA, June 06, 2022 (GLOBE NEWSWIRE) -- According to the latest research by SkyQuest Technology, the Global SAAS Market was valued at USD 143.77 Billion in 2021, and it is expected to reach USD 720.44 Billion by 2028, with a CAGR of 25.89% during the forecast period of 2022 - 2028.
Organizations are accelerating their digital business activities and swiftly shifting to the cloud in order to update infrastructures, increase system stability, enable hybrid work practises, and handle other new realities driven by the epidemic. The pandemic's economic, organisational, and social consequences will continue to serve as a stimulus for digital innovation and cloud service uptake. The prospect for SaaS is likely the brightest among cloud solutions. After all, the total growth of the Global SAAS market will continue to be constant over the next several years as more firms use SaaS solutions for a wide range of business tasks, well beyond the early SaaS regions of core engineering and sales applications.
The large-scale enterprise category led the global SAAS industry in 2021, and this trend is projected to continue throughout the forecast period. This is due to an increase in enterprise use of SaaS platforms to obtain a strategic and competitive edge over their competitors. Customers utilise the SaaS Platform to get fresh insights from enormous amounts of different data, including historical and contemporary data. This technology is appropriate for running algorithms and analysing vast amounts of data to discover meaningful links, entities, and insights. Furthermore, the SaaS platform is becoming more popular as more major companies examine the extraction capabilities for gaining important market insights from big data, which bodes well for the global SAAS market's development.
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The ongoing expansion of Indian SaaS funding has drawn a more varied investor base. In India, there has been an increase in the number of SaaS-focused funds, as well as increased interest from new investor categories such as corporate venture capital (VC) and sovereign wealth funds. Investors are also becoming more engaged at different phases of the investment cycle, with typically early-stage investors now focused on growth investments and later-stage investors investing in earlier rounds. Accel, for example, has invested in seed-stage companies such as Airmeet and Zomentum, as well as Series C+ companies such as Zinier and Mindtickle.
As the Indian SaaS ecosystem evolves, creators have begun to anticipate increasing investor engagement. Investors are increasingly looking for ways to give value beyond finance and relationships by giving operational assistance with go-to-market (GTM), product growth, expansion, and recruiting.
Global SAAS Market Trends is a service provided by cloud providers that allows individuals to execute software over the web rather than downloading it only on PCs. The COVID-19 epidemic has had a significant impact on the Software as a Service Market Trends. The global spread of COVID-19 has had a severe impact on the global economy, since lockdowns have been implemented to limit the infection. Individuals have been confined to their houses in order to reduce interpersonal contact. This condition is responsible for the growth of the IoT, which fuels the growth of the SaaS industry. The rapid spread of the pandemic and the growing number of patients throughout the world has also driven an increase in the adoption of remote working tactics by IT enterprises, which has reinforced the need for SaaS.
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Read market research report, "Global SAAS Market is segmented By Deployment (Public cloud, Private cloud, Hybrid cloud), By Application Area (Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Resource Management (HRM), Supply Chain Management (SCM), Others), By End User (Small & Medium Enterprises, Large Enterprises) & By Region- Forecast and Analysis 2022-2028” by SkyQuest
The key drivers of the Global SAAS Market size are being driven by increased use of cell phones, tablets, and workstations, increased public and cross-breed cloud choosing, and increased corporate rethinking. Another factor driving market growth during the forecast period is the increasing use of small-scale SaaS. When you compare the cost of a SaaS CRM solution to the cost of acquiring the system from the start, it may appear that the SaaS option is still more expensive.
SaaS is a product appropriation model that provides companies with a great deal of dexterity and cost-adequacy, making it an extremely solid alternative for various action plans and enterprises. It is also well-known among businesses for its simplicity, client availability, security, and extensive network. Thus, the programming-as-a-service stage smoothest out plans of action, resulting in the highest productivity in all circumstances.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
What does this Report Deliver?
- Market Estimation for 20+ Countries
- Customization on Segments, Regions, and Company Profiles
- 100+ tables, 150+ Figures
- Global and Country SAAS Market Trends
- Comprehensive Mapping of SAAS Industry Parameters
- Attractive Investment Proposition
- Competitive Strategies Adopted by Leading SAAS Market Players
- SAAS Market drivers, restraints, opportunities, and impact on the market
- SAAS Market growth rate till 2028
- Regulatory scenario, regional dynamics, and SAAS market insights of leading countries in each region
- Segment trends and analysis
- SAAS Market Opportunity analysis by region and country
- SAAS Market Segmentation opportunity and growth
- Porter’s five force analysis to know the market’s condition
- Pricing analysis
- Parent market analysis
- Product portfolio benchmarking
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SkyQuest has segmented the Global SAAS Market based on deployment type, application, end-user, and Region:
Global SAAS Market by Deployment Type
- Public Cloud
- Hybrid Cloud
Global SAAS Market by Application
- Customer Relationship Management (CRM)
- Enterprise Resource Planning (ERP)
- Human Resource Management (HRM),
- Supply Chain Management (SCM)
- Others
Global SAAS Market by End-User
- Small & Medium Enterprises
- Large Enterprises
List of Key Players of SAAS market
- American SAAS Company (US)
- Microsoft Corporation (US)
- Salesforce.com, Inc. (US)
- Oracle Corporation (US).
- IBM Corporation (US)
- Accenture PIc. (Ireland)
- OutSystems - Software em Rede, S.A. (US)
- Cisco Systems, Inc. (US)
- Hewlett Packard Enterprise Company (US)
- Alphabet Inc. (Google LLC) (US)
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