Software as a Service Market in United States Size, Share, Analysis Report [2021-2028]

According to Fortune Business Insights, the global software as a service market size is projected to reach USD 716.52 Billion by 2028, from 113.82 Billion in 2020, at a Compound Annual Growth Rate (CAGR) of 27.5% during the forecast period. The Software as a Service Market consists of sales of cloud-based software service. SaaS is a software solution which can be purchased on a subscriptions or pay per use basis to use an application for organizational purposes and customers can access this application over internet, mainly through a web browser.

Software as a Service (SaaS) Market Size, Share & Industry Analysis, By Cloud Deployment (Public, Private, Hybrid), By Application (Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Resource Management (HRM), Supply Chain Management (SCM), Other), By Industry Verticals (BFSI, Information Technology (IT) and Telecommunication, Manufacturing, Retail, Healthcare) Others and Regional Forecast, 2022-2029

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Regional Insights

North America to Lead Backed by Existence of Vital Players in Region

North America is anticipated to remain at the forefront and hold the highest software as a service market share during the forecast period owing to the increasing application and investment done on SaaS by end-users across industries such as healthcare, retail & consumer goods, and others. Additionally, the presence of major SaaS providers such as IBM Corporation, Microsoft Corporation, Oracle Corporation, Salesforce, Inc., in the U.S. and Canada is expected to promote the regional market. The region’s market stood at USD 57.30 billion in 2020.

Asia Pacific is expected to display considerable software as service market share in upcoming years, owing to the presence of large enterprises in nations such as China, India, Japan, and Australia. Additionally, the growing venture capital investments to adopt SaaS platforms is promoting the regional market.

Software as a Service Market Segmentation:

Fortune Business Insights Report produce an analysis of the key trends in each sub-segment of the global Software as a Service Market report, along with forecasts for growth at the global, regional and country level from 2022-2029. Our report has categorized the market based on region, Deployment, Application and Industry.

Based on the deployment type, the market is divided into public cloud, hybrid cloud and private cloud. The public cloud segment is expected to hold the largest market share in the forecast period, 2022-2028. Public cloud offers several advantages such as high flexibility, scalability, no maintenance costs and have lower complexity than the other cloud models. The growing advancements in technology and the rise in the number of vendors offering are supporting the adoption of public cloud by organizations.

Based on the application, the CRM segment held a market share of 25.1% in 2020. This is attributable to the deployment of SaaS CRM across organizations to manage their contacts, team management, simplify processes, monitor agreements, develop sales pipelines, build relationships with potential and current customers, and others.

Global SAAS (software-as-a-service) market, Customer Relationship Management (CRM), Enterprise Resource planning (ERP), Content, Collaboration & Communication, BI & Analytics, Human Capital Management and Others segments booming worldwide. The acquisition will enable Microsoft to facilitate migration of their customers’ applications and data to the Azure platform, with an aim to smoothen business transformation processes.

Based on the industry, it is divided into BFSI, retail & consumer goods, healthcare, education, manufacturing, travel & hospitality, and others. Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa and South America.

U S Software as a Service Market Segments:

By Deployment Type

• Public Cloud

• Private Cloud

• Hybrid Cloud

By Application

• Customer Relationship Management (CRM)

• Enterprise Resource planning (ERP)

• Content, Collaboration & Communication

• BI & Analytics

• Human Capital Management

• Others

By Industry

• Banking, Financial Services and Insurance (BFSI)

• Retail and Consumer goods

• Healthcare

• Education

• Manufacturing

• Travel & Hospitality

• Others

By Region

• North America

• Europe

• Asia Pacific

• Middle East & Africa

• Latin America

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