The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rapid changes in business dynamics in the market are expected to drive innovation in software as a service (SaaS) manufacturing, thus driving the market during the forecast period.

The global software as a service (SaaS) market is expected to grow from $235.58 billion in 2022 to $253.62 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The global software as a service (SaaS) market size is expected to grow to $328.03 billion in 2027 at a CAGR of 6.6%.

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Global Software As A Service (Saas) Market Segments Include:

• By Application: Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Resource Management (HRM), Manufacturing and Operations, Supply Chain Management (SCM)
• By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
• By Enterprise Size: Small & Medium Enterprises (SMEs), Large Enterprises
• By End User: Manufacturing, Retail, Education, Healthcare, IT & Telecom, BFSI, Other End-Users
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global software as a service (SaaS) market in 2021.

Major Market Players in the software as a service (SaaS) market include Salesforce, ServiceNow, Microsoft, Google, CisCo., Slack, Adobe, Oracle, Amazon AWS, DocuSign, Zendesk, Dropbox, ADP.

The introduction of artificial intelligence is gaining popularity in the SaaS market. Artificial Intelligence (AI) is an area of computer science that focus on the simulation of human intelligence processes by machines. AI in SaaS helps companies to upgrade themselves from time to time with the latest data, create better user experience through predictive analytics, automate the areas where manual functions were required previously and personalize user interface features. For example, Oracle, a big player in SaaS market uses AI and machine learning to overtake salesforce in SaaS. This indicates that AI and machine learning would be differentiating factors for the growth of SaaS market.

The Software As A Service (SaaS) Global Market Report 2023  provides a software as a service (SaaS) market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The software as a service (SaaS) market forecast analyzes software as a service (SaaS) market size, software as a service (SaaS) market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

SaaS is a software distribution model which allows data to be accessible from any device with an internet connection and a web browser. The software provider hosts and maintains the servers, databases, and code that comprise the application under this web-based approach.

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