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North American Software-as-a-Service (SaaS) Market Outlook (2018-2023): Expected to Grow at a CAGR of 15.59% - ResearchAndMarkets.com

November 19, 2018

DUBLIN--(BUSINESS WIRE)--Nov 19, 2018--The “North American Software-as-a-Service (SaaS) Market (2018-2023)” report has been added to ResearchAndMarkets.com’s offering.

The SaaS market is anticipated to grow at a compound annual growth rate (CAGR) of 15.59% during the forecast period 2018-2023.

Based on the deployment model, the SaaS market can be segmented into public cloud, private cloud and hybrid cloud. The private cloud and public cloud models are showing a positive trend in the market and the companies are trying to employ the hybrid cloud model in the recent future. The public cloud market has the largest market share, whereas the private cloud market is predicted to grow at the highest CAGR.

Depending on application, the SaaS market can be bifurcated into enterprise resource planning (ERP), customer relationship management (CRM), human resource management (HRM), supply chain management (SCM) and others. Other application types include web conferencing platforms, messaging applications and collaborations. HRM has the largest market share and is also predicted to have the highest growth rate in the forecast period.

By vertical, the SaaS market can be segmented into banking, financial services and insurance (BFSI), information technology (IT) and telecommunication, manufacturing, retail, healthcare, education and others. The BFSI segment continues to hold the largest market share in the vertical segment, and the manufacturing segment will be growing at a significant rate during the forecast period.

North America is experiencing large-scale digitalization in every vertical of the region. The digitalization will help the vendors to provide more scalable, flexible and customized solutions to the customers.

Key Growth Factors

The SaaS adoption is more prevalent in the North American BFSI, manufacturing and retail sectors than other verticals. The region is moving towards digitalization of every vertical industry in the region which further increases the adoption of SaaS cloud services.

SaaS incorporated with artificial intelligence (AI), and machine learning is changing the customer services in North America. The area is predicted to develop further, creating path-breaking innovations in the cloud services market.

Threats

The North American SaaS vendors are trying to meet the rising demands of increasing the security and scalability of services. Though North America is a mature market for the SaaS vendors, since there are more advanced technologies emerging, the demand for more secure cloud service remains a challenge for the SaaS providers.

Key PlayersSymantec CorporationGoogle Inc.Fujitsu Ltd.Amazon.com Inc.IBM CorporationHPOracle CorporationSAP SEMicrosoft CorporationSalesforce

Key Topics Covered

Chapter 1. Executive Summary

Chapter 2. North America SaaS Market - Market Overview

Chapter 3. The US SaaS Market- Market Overview

Chapter 4. Canada SaaS Market - Market Overview

Chapter 5. Competitive Landscape

Chapter 6. Conclusion

For more information about this report visit https://www.researchandmarkets.com/research/tdkzdk/north_american?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20181119005436/en/

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Related Topics:Software,Cloud Computing and Storage

KEYWORD: NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY INTERNET SOFTWARE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 11/19/2018 09:32 AM/DISC: 11/19/2018 09:32 AM

http://www.businesswire.com/news/home/20181119005436/en

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