Software as a Service Market will register a CAGR of 12% during 2020-2024. The market’s growth momentum will Accelerate.
Augmenting use of mobile apps | Rising need for API connections | Rise in adoption of cloud among SMEs will be one of the major factors driving the growth of this market. Additionally, key Software as a Service (SaaS) Market trends such as the Rising need for API connections will also influence market growth during the forecast period.
Software as a Service (SaaS) Market Size
During the forecast period, the Software as a Service (SaaS) Market size will grow by $ 99.99 billion.
Software as a Service (SaaS) Market : Vendors
The market is fragmented and owing to the growth opportunities, the level of competition among the companies in this market space will intensify further. are some of the major companies in the Software as a Service (SaaS) Market. Though the forecast period offers opportunities for vendors to increase their market share, factors such as the Issues associated with system integration | Concerns about data security | Increasing acceptance of PaaS will also challenge the growth of the companies.
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Accenture Plc | Adobe Inc. | Alphabet Inc. | Amazon.com Inc. | Hewlett Packard Enterprise Development LP | International Business Machines Corp. | Microsoft Corp. | Oracle Corp. | Salesforce.com Inc. | SAP SE.list are some of the companies covered in Technavio’s Software as a Service (SaaS) Market report for 2021-2025.
Software as a Service (SaaS) Market : Region-level Analysis
The report identifies region-level market dynamics, developments, and key markets. The regional level analysis also identifies the market share, growth momentum, and key leading countries in the Software as a Service (SaaS) Market.
The North America will account for the largest Software as a Service (SaaS) Market share and during 2021-2025, the region will contribute to 52% of the market’s growth.
In addition to regions and the key companies involved, Technavio’s Software as a Service (SaaS) Market report also analyzes the market by Public cloud | Private cloud | Hybrid cloud | North America | Europe | APAC | South America | MEA