NEW DELHI, December 20, 2018 : According to a new report Global Software as a Service (SaaS) Market, published by KBV research, The Global Software as a Service (SaaS) Market is expected to attain a market size of $185.8 billion by 2024, growing at a CAGR of 21.4% during the forecast period. The software as a service model allows users to gain access to various components and features of software with the help of a subscription model and without the need for worrying about product licenses. The comprehensive change in the way of perceiving communication is the key factor responsible for the development of SaaS solutions.
The North America market dominated the Global Large Enterprises Software as a Service Market by Region 2017, and the growth is attributed to technologically advanced infrastructure and presence of the large number of organizations which are well equipped to incorporate software as a service in the region. Companies are investing in the IT sector to implement enterprise application to streamline the work process. Cloud-based enterprise application has witnessed significant adoption on the region, owing to well-developed telecommunication infrastructure. The Europe market is expected to witness a CAGR of 18.8% during (2018 – 2024). Additionally, The Asia Pacific market is expected to witness a CAGR of 22.3% during (2018 – 2024).
The Customer Relationship Management market dominated the Global Software as a Service Market by Type 2017, growing at a CAGR of 20.6 % during the forecast period. The Web conferencing market is expected to witness a CAGR of 22.4% during (2018 – 2024). Additionally, The Business Process Management market is expected to witness highest CAGR of 22.3% during (2018 – 2024).
The Public Cloud market dominated the Global Software as a Service Market by Deployment Type 2017. The Private Cloud market is expected to witness a CAGR of 23.2% during (2018 – 2024). Additionally, The Hybrid Cloud market is expected to witness highest CAGR of 24.7% during (2018 – 2024).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Hewlett Packard Enterprise Company, Microsoft Corporation, Oracle Corporation, IBM Corporation, SAP SE, Infor, Avaya, Salesforce.com, Inc., Google Inc., and Epicor Software Corporation.
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software-as-a-service-market
