The global Software as a Service (SaaS) market is expected to grow at a compound annual growth rate (CAGR) of 13.2% during the forecast period (2023-2030). SaaS applications are typically more affordable than traditional on-premises software, as businesses only pay for the features they need on a subscription basis. This reduces upfront costs and offers predictable pricing. Traditional on-premises software often requires significant upfront investments in hardware, software licenses, and installation costs. This can be a financial burden for businesses, especially small and medium-sized enterprises (SMEs), making it difficult to access the latest software solutions. In contrast, SaaS applications offer a more affordable and flexible pricing model, typically based on a subscription fee. Businesses only pay for the features they need and the number of users they have, eliminating the need for large upfront investments. This subscription-based model provides several advantages. Businesses can start using SaaS applications with minimal upfront costs, as subscription fees are typically lower than the initial purchase price of traditional on-premises software. SaaS subscription plans can be scaled up or down as business needs change. Subscription-based pricing provides businesses with predictable ongoing expenses, enabling better financial planning and budgeting.
Browse the full report description of “Software as a Service (SaaS) Market Size, Share & Trends Analysis Report by Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), by Business Size (Small and medium-sized businesses (SMBs), and Enterprise), by Industry (BFSI, Healthcare, Retail, Manufacturing, and IT and Telecommunications, and Others (Media and entertainment, Transportation and logistics)), and by Application (Business Applications, Productivity Applications, Collaboration Applications, Security Applications, and Marketing Applications)Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/saas-market
The affordability and flexible pricing of SaaS applications have made them a popular choice for SMEs. According to a study by Statista, 69% of SMEs use SaaS applications, with the most common applications being CRM (Customer Relationship Management), email, and project management tools. Adobe's Creative Cloud, a suite of design and creative tools, has seen widespread adoption due to its subscription-based pricing model. The company shifted from traditional on-premises licenses to a cloud-based subscription model, providing users with access to the latest software features and updates for a monthly fee. This move has been successful, with Creative Cloud generating over $8 billion in annual revenue for Adobe.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Deployment Model
o By Business Size
o By Industry
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape includes Google LLC, Microsoft, Oracle, Salesforce, Inc., SAP, and others.
Key questions addressed by the report
Global Software as a Service (SaaS) Market Report Segment
By Deployment Model
By Business Size
By Industry
By Application
Global Software as a Service (SaaS) Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
To learn more about this report request a sample copy @ https://www.omrglobal.com/request-sample/saas-market