Software as a Service (SaaS) Market is Projected to grow at a CAGR of 28.3% to reach to reach US$ 418.92 Bn by 2025.
Capital investments for setting up IT infrastructure in all organizations is a bit challenging issue, especially for small organizations and startups that lack sufficient funds. In addition, problems faced in scaling up or down the operations and additional deployment of human personnel for handling the IT, thus further ads up to the woes of organizations. It also leads to increased financial pressures and more time to reach the break-even for the respective organization.
According to the new Market research study published by The Insight Partners, The Global Software as a Service Market was estimated at US$ 34.78 Bn in 2015. This market is expected to grow at a CAGR of 28.3% between 2016 and 2025, to reach US$ 418.92 Bn in the year 2025.
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Currently, almost 80% of the SaaS-based deployments are off-premise and third party operated. This deployment model is the public cloud model. Public cloud models are preferred mostly by smaller organizations to store, manage and process efficiently less critical and sensitive data. Larger organizations generally prefer private or hybrid cloud deployment models for their mission critical data. Lesser investments and easy integration with the legacy systems have made the adoption of public cloud deployment model more attractive among the organizations.
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The global software as a service market has been segmented on the basis of deployment model into private cloud, public cloud and hybrid cloud. The global software as a service market is further segmented on the basis of applications into Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Resource Management (HRM), Supply Chain Management (SCM) and others. Additionally, this market is also segmented on the basis of end-users into Small and Medium sized enterprises, Large Scale Enterprises, Government. Geographically, the global software as a service market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
In 2015, Brazil led the software as a service market in South America (SAM), and is expected to continue its dominance by expanding at a CAGR of 29.4% during the forecast period from 2016 to 2025. Brazil is expected to witness rising adoption of software as a service model due to rise in the number of small and medium scale organizations. The report profiles key players such as ADP LLC, Amazon.com, Google, Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, Inc., SAP SE, Symantec Corporation, Fujitsu Limited and Workday, Inc.
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