A set of many software that is developed and hosted by a third party member for various industrial implementations today is Software as a Service or more commonly called as SaaS. The SaaS model has replaced the traditional Application Service Provider (ASP) model in which many of the hidden costs of having on-premise software gets eliminated. The user always uses the latest version of the software. The installation, maintenance and up-gradation of software are all managed by the third-party vendor itself that results in saving huge amounts of capital expenditures for an organization deploying SaaS. The organization here does not own the software and instead uses it on-demand on a pay-per-usage basis from the vendor.
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The global software as a service segments the market on the basis of deployment model, applications, end-users, and regions. The deployment model segment is divided into a public model, a private model, and a hybrid model. The applications segment is further subdivided into broad categories namely CRM, HRM, ERP, SCM, and Others. SME’s, Large Enterprises and Government constitute the end-users for the global SaaS market.
The geographic segments that constitute this report are North America, Europe, APAC, Middle East Africa and South America. The analysis concludes that North America leads the adoption of the SaaS model. APAC region observes the highest growth due to the adoption by SME’s particularly in countries like India and China. Developing countries on the rising curve and increased standard of living of people are the key reasons found for the adoption of higher rates in the APAC region.
The SaaS model has proved a boon particularly for SMEs all over the world as they can save a lot of initial capital costs and instead focus on their core product to reach the break-even point early. Lower Total Cost of Ownership, easy scalability, less time to market the product are the factors that are driving the adoption of the SaaS market globally. Also, the advent of Big Data & IoT, SaaS has found many applications in the two upcoming technologies and consequently has an impact on the growth of the SaaS market.
The report provides deep insights into the growth rates, market shares, market drivers and restraints and the opportunities for market players in the future. Few key market players have also been profiled in the report. The profiling of the market players provides their financial information about revenues as well as segment revenues, competitive SWOT analysis for each player and the recent developments by the player in the SaaS domain. The key developments are related to the mergers and acquisitions by the players in the recent past.
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