Most Awaited Q3 Sale is back. Upto 30% discount on every report.

Software as a Service (SaaS) Market Size, Share, Industry, Forecast and outlook (2023-2030)

Published: 2023 August 23
SKU : ICT2003
180 pages
Report Summary
Table of Contents
List of Tables & Figures

Global Software as a Service (SaaS) Market is segmented By Deployment (Public Cloud, Private Cloud, Hybrid Cloud), By Application (CRM, ERP, HRM, HRM, SCM, and others), By Vertical (BFSI, Healthcare & Life sciences, Telecommunications and ITES, Consumer Goods and Retail, Government and Public sector), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030


Software as a Service (SaaS) Market Overview

The SaaS market expected to grow at a high CAGR during the forecast period (2023-2030). Enhanced business efficiency due to improved IT services offered by cloud computing coupled with the introduction of the pay-as-you-go model for small and medium enterprises (SMEs) by market players will further boost growth in the global SaaS market. Moreover, the global SaaS market has been witnessing intense competition among the top five players, for the past five years. Microsoft, Salesforce, SAP, Adobe, and Oracle are the major players accounting for more than fifty percent of the market share in the global SaaS market.


SaaS is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. It is a software distribution model in which a third-party provider hosts - applications and makes them available to customers over the Internet. In this web-based model, software vendors host and maintain the servers, databases, and code that constitute an application. This is a significant departure from the on-premise software delivery model.

The report covers all the major trends and drivers playing a vital role in the growth of the global SaaS market. The market has been segmented based on region, deployment, application, and vertical.


Software as a Service (SaaS) Market Summary and Scope



Market CAGR


Segments Covered

By Deployment, By Application, By Vertical and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

To Get a Free Sample Click here


Software as a Service (SaaS) Market Dynamics and Trends

The global SaaS market growth is primarily driven by a rise in the adoption of hybrid cloud solutions. As the cloud computing market continues to grow, enterprises are exploring different cloud models in search of the right balance of functionality, flexibility, and investment protection. Hybrid cloud lets organizations provision, use, and manage IT resources across their on-site data center and a compatible public cloud. Factors such as increased speed of delivery of IT resources to end-users, need for improved disaster recovery capabilities, improved resource utilization, and reducing IT capital expenses; are driving organizations to move workloads to hybrid cloud.

Moreover, increasing business outsourcing and globalization are prompting 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.

In addition, the demand for public cloud solutions is rising, and this translates to growing opportunities for public cloud providers. The top public cloud companies are enhancing their services and dropping prices to better compete in the public cloud market.


Software as a Service (SaaS) Market Segmentation Analysis

By deployment, the global SaaS market is segmented into public, private, and hybrid. In 2018, the public cloud deployment segment accounted for the largest market share in the global market. Cloud technology enables developers to adopt Agile workflows, significantly reducing lead times in testing and deploying new products and releasing product updates. As public cloud users, organizations aren’t responsible for managing cloud hosting solutions. The cloud service provider is responsible for the management and maintenance of the data center(s) in which the data is stored. This means no lengthy procurement processes and no waiting around for operations to install an operating system, configure and assemble servers, or establish connectivity.

By vertical, the global SaaS market is segmented into BFSI, Healthcare & Life sciences, Telecommunications and ITES, Government and Public sector, and Others. In 2018, BFSI vertical accounted for the majority share in the market. The BFSI is the most targeted industry vertical, as it deals with large volumes of sensitive and private financial data. The enterprises in BFSI are demanding security policy management solutions to ensure irreversible security. Moreover, BFSI vertical is the most regulated, as it has to comply with many security requirements.


Software as a Service (SaaS) Market Geographical  Share

By geography, the global SaaS market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).

In 2018, North America accounted for the largest market share. However, APAC is expected to witness a higher CAGR than other regions during the forecast period. North America is a matured market in terms of cloud adoption, due to various factors, such as standards, regulations, advanced IT infrastructure, the presence of a large number of enterprises, and the availability of proficient technical expertise. Therefore, North America is expected to grow at a steady and maintain its dominant position in the global market over the forecast period.

APAC SaaS market is expected to grow exponentially over the forecast period due to an increased demand for cloud computing among small and medium-sized enterprises (SMEs). Countries like Singapore, which have seen ICT infrastructure as a key enabler in boosting the overall competitiveness in the region, based on creating new industries and new businesses, thereby encouraging economic growth. The city-state boasts a prime position among its neighbors’ when it comes to cloud computing adoption. In India, at present, it does not have a mature ecosystem that supports cloud IaaS services. A few players from the service provider segment such as Tata Communications, Wipro, and NetMagic have services that are likely to evolve into more stable cloud offerings.


Software as a Service (SaaS) Companies and Competitive Analysis

Global SaaS Market is moderately concentrated with the presence of global and regional players in the market. Major players with prominent shares in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market shares and profitability.

Some major players in the market are Adobe Inc.,, Microsoft Corp., Oracle Corp., Inc., SAP SE., Google LLC, ServiceNow, Inc., Workday, Inc., Zendesk Inc, Atlassian Corporation Plc, Splunk Inc., Box, Inc., Cisco Systems, Inc., and among others.  These players have adopted various strategies, such as new product/service developments, mergers and acquisitions, collaborations, and partnerships, to expand their presence in the global SaaS market.

In 2018, Adobe Systems Inc. acquired San Francisco-based marketing automation software firm Marketo Inc. for $4.75 billion.

In 2018, SAP announced agreed to acquire Qualtrics for $8 billion in cash. Qualtrics, which competes with SurveyMonkey in the survey software market, was getting ready for its IPO.

In 2018, SAP SE announced that it had completed its acquisition of Callidus Software Inc., known for its lead to money applications, including sales performance management and configure-price-quote (CPQ).

**The Global SaaS Market report would provide access to an approx, 67 market data tables, 78 figures, and 150 pages

Buy this report
Single User
Multiple User
Enterprise User
Proceed to Buy
Request new version
What is the Projected CAGR value of the Software as a Service (SaaS) Market?
Software as a Service (SaaS) Market is expected to grow at a CAGR High during the forecasting period 2023-2030.
Which region controlled the global market during 2023-2030?
North America region Controls the Software as a Service (SaaS) Market during 2023-2030.
Which is the fastest growing region in the Software as a Service (SaaS) Market?
Among all regions, Asia Pacific is the fastest growing market share during the forecast period.