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Software as a Service Market Trends, Drivers, Restraints, Opportunities & Future Prospects 2020-2027

The Latest Research Report of Software as a Service Market provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. – Data Bridge Market Research

The research and analysis conducted in Software as a Service Market Report helps clients to predict investment in an emerging market, expansion of market share or success of a new product with the help of global market research analysis. This report has been designed in such a way that it provides very evident understanding of the business environment and Software as a Service industry. Nevertheless, this global market research report unravels many business problems very quickly and easily. Due to high demand and the value of market research for the success of different sectors, Software as a Service Market report is provided that covers many work areas.

Global software as a service market is expected to rise to an estimated value of USD 272.70 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to major organizations adopting outsourcing facilities for various services and operation handlings of their businesses, coupled with greater utilization of social media and other messaging platforms for better communication solutions.

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Software as a service (SaaS) can be defined as a collection of software for cloud computing provided by a third-party IT organization through the internet. These services are delivered in a specific model to the consumers availing the subscription service for the software. This software service is hosted centrally from the host provider and the collective service is provided to the customer on-demand. This service was developed to remove/reduce the requirement of having to integrate the software as an application on their individual servers significantly reducing the cost of deployment.

Market Drivers:

  • Increased demand for cost-effective solutions that require lower consumption of resources while delivering equally effective product offerings
  • Better deployment with unique customized offerings of these offerings is expected to drive the growth of the market
  • Increased demand from various end-users to reduce their organizational costs while availing equally effective services is boosting the growth of the market
  • Reduced costs of hardware, maintenance individual licenses for each software is also expected to foster growth of the market

Market Restraints:

  • Varied concerns regarding security and infrastructural concerns related to privacy are factors expected to restrict the adoption
  • Requirement of high-speed internet service for the effective integration and utilization of this service is also expected to restrain the market growth

Segmentation: Global Software as a Service Market

  • By Deployment Model
  • Private Cloud
  • Public Cloud
  • Hybrid Cloud
  • By Organization Size
  • Large Enterprises
  • Small & Medium Enterprises (SMEs)
  • By Application
  • Customer Relationship Management (CRM)
  • Enterprise Resource Planning (ERP)
  • Operations & Manufacturing
  • Business Intelligence Management (BIM)
  • Web Conferencing
  • Enterprise Content Management (ECM)
  • Enterprise Asset Management
  • Human Capital Management (HCM)
  • Unified Communication & Collaboration (UC&C)
  • Finance & Accounting
  • Structured Data Management
  • Collaboration
  • Security
  • System/Network Management
  • Engineering
  • Storage Software
  • Application Server Middleware
  • Integration & Process Automation Middleware
  • Quality & Lifecycle Tools
  • Business Process Management
  • Human Resource Management (HRM)
  • Supply Chain Management (SCM)
  • Others

o   Messaging Applications

o   Risk & Compliance Management

o   Product Lifecycle Management (PLM)

o   Enterprise Performance Management (EPM)

  • By End-Users
  • Manufacturing
  • Banking, Financial Services & Insurance (BFSI)
  • Healthcare
  • Travel & Hospitality
  • Retail
  • Government
  • Utilities

o   Energy & Power

o   Oil & Gas

o   Water Management

o   Others

  • IT & Telecommunications
  • Education
  • Professional Services
  • Others
  • By Geography
  • North America

o   U.S.

o   Canada

o   Mexico

  • Europe

o   Germany

o   Italy

o   U.K.

o   France

o   Spain

o   Netherlands

o   Belgium

o   Switzerland

o   Turkey

o   Russia

o   Rest of Europe

  • Asia-Pacific

o   Japan

o   China

o   India

o   South Korea

o   Australia

o   Singapore

o   Malaysia

o   Thailand

o   Indonesia

o   Philippines

o   Rest of Asia-Pacific

  • South America

o   Brazil

o   Argentina

o   Rest of South America

  • Middle East and Africa

o   Saudi Arabia

o   UAE

o   South Africa

o   Egypt

o   Israel

o   Rest of Middle East and Africa

Key Developments in the Market:

  • In June 2019, Freshworks Inc. announced that they had entered into a partnership with OrangeOne Corporation providing distribution services of various software developers to consumers in the Japan region. This partnership will help in better engagement of customers for Freshworks’ product offerings, applicable in various applications and end-users across the region
  • In May 2019, Freshworks Inc. announced that they had acquired Natero, Inc. This acquisition will provide Freshworks Inc. with a combined SaaS program that provides marketing, sales, support and customer success. This unification will help in expansion of customer base while enabling the consumers of this program to retain greater volume of customers with low amount of resources available. The integration of combined services also helps in better service provision to the customer’s offerings unique solutions identified based on analysis

Competitive Analysis

Global software as a service market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of software as a service market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Major Market Competitors/Players

Few of the major competitors currently working in the global software as a service market are Symantec Corporation; Google; FUJITSU; Amazon Web Services, Inc.; Freshworks Inc.; IBM Corporation; HP Development Company, L.P.; Micro Focus; Oracle; Adobe; Cisco Systems, Inc.; Xero Limited; TABLEAU SOFTWARE; SAP SE; Microsoft; Salesforce.com, inc.; Workday, Inc.; Infor; Avaya Inc.; Epicor Software Corporation; RACKSPACE US, INC.; ServiceNow; Zuora Inc.; ADP, LLC. and Blackboard Inc. among others.

New Business Strategies, Challenges & Policies are mentioned in Table of Content, Request FREE TOC at @ https://www.databridgemarketresearch.com/toc/?dbmr=global-software-as-a-service-market&somesh

Major Highlights of Software as a Service market in Covid-19 pandemic covered in report:

The report provides impact of COVID-19 on Software as a Service market along with its impact on overall industry and economy of world. Further, it adds changes in consumer buying behavior as it impacts majorly on market growth and sales. Distributors and traders on marketing strategy analysis focusing on region wise needs in covid-19 pandemic is also added in the Software as a Service market report. The last segment of COVID-19 impact chapter include recovery and major changes opted by major players involved in Software as a Service market.

Reasons to Purchase this Report:

  • Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
  • Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
  • Market value USD Million and volume Units Million data for each segment and sub-segment
  • Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Content:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: RESEARCH METHODOLOGY

PART 04: INTRODUCTION

PART 05: MARKET LANDSCAPE

PART 06: MARKET SIZING

PART 07: FIVE FORCES ANALYSIS

PART 08: MARKET SEGMENTATION BY PRODUCT

PART 09: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL

PART 10: CUSTOMER LANDSCAPE

PART 11: MARKET SEGMENTATION BY END-USER

PART 12: REGIONAL LANDSCAPE

PART 13: DECISION FRAMEWORK

PART 14: DRIVERS AND CHALLENGES

PART 15: MARKET TRENDS

PART 16: COMPETITIVE LANDSCAPE

PART 17: COMPANY PROFILES

PART 18: APPENDIX

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