In a recent published report, Kenneth Research has updated the market report for Software as a Service Saas Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Software as a Service Saas Market products.
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Kenneth Research has recently added a report titled Software as a Service Saas Market market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
Kenneth Research has published a detailed report on Software as a Service (saas) Market, which has been categorized by market size as well as growth indicators, and further encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2021-2025.
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In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years.
What is SaaS?
The SaaS industry has been growing viral as the demand for SaaS applications, SaaS products, and the SaaS platform is gaining acceptance in small, medium and large enterprises worldwide.
The Software as a Service (SaaS) market consists of sales of cloud based software services. SaaS is a software solution which can be purchased on a subscription 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. All the applications data and software are located in the services provider’s data center. SaaS allows an organization to run an application at minimal upfront cost and speeds up overall functionality of the organization.
Moreover, there are several SaaS vendors who offer IT infrastructure software or applications, for which cloud-based or SaaS subscriptions are also provided. The report does not include the SaaS market for such applications. Some examples of the type of applications include virtualization software, middleware, application integration, content delivery solutions and more.
The cost-effective nature of vertical SaaS is increasing its adoption among various enterprises. Vertical SaaS solutions also enable enterprises to generate industry-specific customer data and intelligence. Moreover, vendors are focusing on customizing vertical SaaS solutions to provide features that cater to the needs of the client and the specific industry. This will allow enterprises to address customer needs within their niche effectively. It will also improve their flexibility and upselling opportunities as well as reduce customer acquisition costs. Therefore, the use of virtual SaaS solutions is increasing, which is expected to fuel the global SaaS market growth during the forecast period.
Market Segmentation
Market by Cloud Deployment Type
*Private cloud
*Public cloud
*Hybrid cloud
Market by Application
*Customer relationship management (CRM)
*Operations and manufacturing
*Enterprise resource planning (ERP)
*Content management systems
*Human capital management (HCM)
*Supply chain management
*Others (system or network management, structured data management, and security management)
Market by End-users
*Small and mid-sized businesses (SMBs)
*Large businesses
By Regional Ananlysis
North America
*U.S.
*Canada
Europe
*Germany
*UK
*France
*Italy
*Spain
*Belgium
*Russia
*Netherlands
*Rest of Europe
Asia-Pacific
*China
*India
*Japan
*Korea
*Singapore
*Malaysia
*Indonesia
*Thailand
*Philippines
*Rest of Asia-Pacific
Latin America
*Brazil
*Mexico
*Argentina
*Rest of LATAM
Middle East & Africa
*UAE
*Saudi Arabia
*South Africa
*Rest of MEA
The Information and Communications Technologies (ICT) sector in Canada consists of more than 41,500 companies, out of which, over 37,000 companies come under the category of software and computer services industries. Hence, around 89.8% of key players in the ICT industry are involved in software and computer services, 4.5% companies are in ICT wholesaling, 3.4% in communications services and the remaining 2.2% companies are involved in ICT manufacturing in the country, as per the Canadian ICT Sector Profile released by the Government of Canada in 2018.
Reasons to Purchase this Report
* Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
* Provision of market value (USD Billion) data for each segment and sub-segment
* Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
* Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
* Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
* Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
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