Allied Market
The global SaaS market is analyzed across solution type, deployment mode, enterprise size, industry vertical and region.
PORTLAND, OR , UNITED STATES, UNITED STATES, May 5, 2023 /EINPresswire.com/ — Increasing use of smart phones and app-based services, extensive adoption of public and hybrid cloud, and growing trend of business outsourcing in the global economy drive the growth of the global SaaS market. Increasing adoption of artificial intelligence (AI) and machine learning (ML) across industries such as BFSI, healthcare, and IT & telecom provide tremendous opportunities in the industry.
The global SaaS market is expected was estimated at $121.33 billion in 2020, and is projected to reach $702.19 billion by 2030, growing at a CAGR of 18.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Major industry players such as – IBM Corporation, Microsoft, ServiceNow, SAP SE, Google LLC, Cisco Systems, Inc., Adobe Inc., Accenture Plc, Oracle Corporation and Salesforce.com, Inc. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
By solution type, the customer relationship management (CRM) accounted for the largest market share in 2020, garnering more than one-fourth of the global market. The operation management segment, on the other hand, would exhibit the fastest CAGR of 21.o% during the forecast period.
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By deployment mode, the public cloud segment garnered the highest market share in 2020, accounting around three-fifths of the global software as a service market. The hybrid cloud segment, however, would cite the fastest CAGR of 20.0% during the forecast period.
By region, the market across North America held the lion’s share in 2020, garnering around two-fifths of the global market. The Asia Pacific region, on the other hand, exhibit the fastest CAGR of 22.0% during the forecast period by the end of 2030. The other provinces studied in the report include LAMEA and Europe.
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Some of the Recent Product Launches, Product approval, Announces and Merger in Software as a Service (SaaS) Market –
• Product Launch – Google Cloud launched its new product, Vertex AI, a managed machine learning platform that enables businesses to build, train and deploy machine learning models on a single platform.
• Product Approval: Microsoft’s Azure Synapse Analytics, a SaaS-based analytics service, received FedRAMP High authorization, making it the first and only cloud analytics service to achieve such approval.
• Announcement: Salesforce announced the launch of a new suite of products called Vaccine Cloud, which aims to help governments and healthcare organizations manage their COVID-19 vaccination programs and Oracle announced the launch of a new SaaS-based employee experience platform called Journeys, which enables HR teams to create personalized digital journeys for employees to enhance engagement and productivity.
• Merger: ZoomInfo, a provider of go-to-market intelligence solutions, announced its acquisition of Chorus.ai, a conversation intelligence platform for sales teams, to strengthen its SaaS-based sales engagement platform.
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The market numbers are verified by means of numerous data triangulation techniques. Additionally, reliable industry journals, accurate press releases from trade association, and government websites have also been revised for producing exclusive industry insights. If you have any special requirements, please let us know and we will offer you the report as per your requirements.
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