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Global Software-as-a-Service (SaaS) Market Outlook (2018-2023): Expected to Register a CAGR of 21.1% - ResearchAndMarkets.com

November 14, 2018

DUBLIN--(BUSINESS WIRE)--Nov 14, 2018--The “Global 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 21.2% during the forecast period 2018-2023.The increasing business outsourcing and globalization are prompting the organizations to expand their boundaries to offer services to clients around the world. Organizations are looking for reliable business data to improve their workforce investment strategies and discover potential problems and their causes. The extensive use of social media and instant messaging has led to the adoption of SaaS among various enterprises.The issues relating to data security, lack of integration, and the need for constant and high-speed internet connectivity pose a hindrance to the growth of the SaaS industry. The complications involved in direct access to data creates a high level of complexity in combining legacy on premise systems, cloud applications and multiple SaaS applications.

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.

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. CRM has the largest market share for SaaS.

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.

By region, North America has the largest market share in the global SaaS market. The main reason is the extensive use of SaaS-based solutions such as human capital management (HCM), office suites, emails and web conferencing. Asia-Pacific is anticipated to be the fastest growing region for the SaaS market, owing to the increasing number of SaaS vendors who provide continuous marketing, support and sales services to their clients.

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

Topics Covered

Chapter 1: Executive Summary

Chapter 2: Global SaaS Market - Market Overview

Chapter 3: North America SaaS Market - Market Overview

Chapter 4: Europe SaaS Market - Market Overview

Chapter 5: Asia-Pacific SaaS Market - Market Overview

Chapter 6: Latin America SaaS Market - Market Overview

Chapter 7: The Middle East and Africa SaaS Market - Market Overview

Chapter 8: Competitive Landscape

Chapter 9: Conclusion

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

View source version on businesswire.com:https://www.businesswire.com/news/home/20181114005369/en/

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Related Topics:Software,Cloud Computing and Storage

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 11/14/2018 05:10 AM/DISC: 11/14/2018 05:10 AM

http://www.businesswire.com/news/home/20181114005369/en

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