The Global SaaS market is growing at 9.1% CAGR between 2019-2024 period and set to reach $100 billion mark by 2020 end.
The growth drivers of the SaaS is plenty, with technologies such as edge computing, AI, blockchain and 5G, SaaS market vendors could make their businesses more competent and more businesses across several verticals are likely to adopt SaaS solutions in near future
- Definition / Scope
- Market Overview
- Key Metrics
- Market Risks
- Top Market Opportunities
- Market Trends
- Price Trends
- Industry Challenges
- Other Key Market Trends
- Market Size and Forecast
- Market Outlook
- Technology Roadmap
- Distribution Chain Analysis
- Competitive Landscape
- Competitive Factors
- Key Market Players
- Strategic Conclusion
Definition / Scope
Cloud technology enables storing, processing and managing large amounts of data in real time, across numerous servers. This in turn allows software solution to be accessed anytime from any device or browser.
SaaS is one model of software besides PaaS and IaaS. Initially, the concept of SaaS emerged in 1990s alongside appeared thousands of business owners. SaaS is a model of business applications in the format of internet services.
These applications run on provider's server and users access them using any internet-connected device. The end-user either buys the SaaS application or rents it and pays certain amount for the period they use it.
Some of benefits of using SaaS model are:
- Lower ownership cost
- Worldwide access
- Possibility to connect distributes offices and remote staff
- minimal requirements for the user hardware
- Cross-platform capabilities
- Low entry threshold and the possibility to try the software free of charge
Generally SaaS applications are deployed across two areas:
- Vertical: Vertical SaaS is where industry across several verticals deploy SaaS. It involves vendors designing apps based on some specific industry or customer requirements.
- Horizontal: This type of SaaS uses one-size fits all approach where SaaS vendors are mainly concentrated on building apps that serve wide business functions like CRM, HR, and sales.
- Hybrid: Generally, a single enterprise platform which can address the needs of potential horizontally-aligned clients in a particular industry are known as hybrid solutions. They have features of both vertical and horizontal SaaS apps.
The scope of this report covers only SaaS business model and no other cloud computing models such as IaaS or PaaS. To differentiate SaaS model from PaaS and IaaS models, it is important to understand these concept too.
IaaS also known as Infrastructure as a service is where the cloud provider cater their customers with the ability to construct virtualized network environment consisting of elements such as servers, router, switches, interconnections, storages, operating systems and network devices.
Whereas, PaaS or Platform as a service products are the cloud frameworks used by the engineering specialists as a foundation for custom software. Any company’s development team fully manages an app while servers and physical infrastructure are provided by PaaS vendor.