Software as a
service (SaaS) is a software delivery model, also known as on-demand software
or web based software. It includes software and its related data that are accommodated
centrally & accessed via client which is generally a web browser over the
internet. SaaS has many components such as infrastructure as a service,
anti-virus, software layer, server deployment, patching, managed operating
system and server monitoring etc. Hotmail, Gmail and Mikogo are some of the examples
of SaaS. The key characteristics associated are open integration protocols, accelerated
feature delivery, better access, easy customization & configuration, collaborative
functionality, operational performance and multitenant architecture.
According to
study, “Global
Software-as-a-Service (SaaS) Market
(2018-2023)” some of the major companies
that are currently working in the global Software-as-a-Service (SaaS) market
are Symantec Corporation, Netsuite Inc., CISCO Systems Inc., Automatic Data
Processing (ADP) LLC, Intuit Inc., Service Now, Oracle Corporation, IBM
Corporation, Anaplan Inc., Okta Inc., Host Analytics Inc., Concur Technologies,
Fujitsu Ltd., Microsoft Corporation, Workday Inc., Workwise Inc., Citrix
Systems Inc., The Sage Group Inc., Infor Inc., Adobe Systems Inc., Zendesk
Inc., Amazon.com Inc., Salesforce.com Inc., HP, SAP SE, Google Inc. These companies
provide endless marketing, maintenance and sales services to the customers. In the
upcoming years, all these key players are trying to service the hybrid cloud
model.
On the basis of
deployment model, the software as a service market is segmented into private
cloud, public cloud and hybrid cloud. On the basis of vertical, the market is
segmented into information technology (IT) & telecommunication, travel, education,
banking financial services and insurance (BFSI), retail, hospitality, discrete manufacturing,
utilities (oil and gas, energy and power, water management) healthcare and
others. On the basis of the software, market is segmented into payroll
software, service desk management, database management software, computer
designing software, virtualization software, development software, messaging
software, collaboration software, talent acquisition accounting and antivirus
software and invoicing software etc. On the basis of tools, the market is
segmented into qTest, PractiTest and QMetry and many others.
On the basis of
application, the market is segmented into customer relationship management
(CRM), supply chain management (SCM), enterprise resource planning (ERP) and
human resource management (HRM) and others (web conferencing platforms). In
addition, on the basis of organization market is segmented into large
enterprises and small & medium enterprises (SMEs).
Some of the key
advantages are rapid scalability, automatic update, high bandwidth network, fewer
up-front costs, faster implementation, accessibility & persistence, improve
availability, system maintenance (updates, security and backup), easy to use,
accessible from anywhere (with an internet connection) and vendor
accountability. Some of the drawbacks associated are reliability, performance,
security, privacy, robustness and compliance.
The market of
SaaS is generally compelled by increasing penetration of broadband internet
access. Some of the other driving factors are the increasing popularity of web
development as a practice, growing use of web based user interfaces,
standardization of web page technologies (Java Script, HTML and CSS), rising
web application frameworks (PHP) and wide acceptance of lightweight integration
protocols (SOAP & REST). However the market is also impacted by factors such
as lack of integration, data security issues and the need of constant &
high speed internet connectivity etc.
North America
holds the largest market share of SaaS market in world owing to the wide use of
SaaS-based solutions for instance office suites, human capital management
(HCM), emails and web conferencing. Additionally Asia-Pacific is the second
largest market and it is expected that the SaaS market to grow at a CAGR of
21.2 % over the forecast period.
To know more,
click on the link below:-
Related Reports:-
https://www.kenresearch.com/technology-and-telecom/it-and-ites/asia-pacific-software/172748-105.html
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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
