NEW YORK, Jan. 30, 2023 /PRNewswire/ — According to Technavio, the global software as a service (SaaS) market size is estimated to grow by USD 147.44 billion from 2021 to 2026. The market is estimated to grow at a CAGR of 11.41% during the forecast period. Moreover, the growth momentum will accelerate. North America will account for 51% of the market’s growth during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. To know more, buy the report!
Global software as a service (SaaS) market – Five forces
The global software as a service (SaaS) market is fragmented, and the five forces analysis covers–
- Bargaining power of buyers
- The threat of new entrants
- Threat of rivalry
- Bargaining power of suppliers
- Threat of substitutes
- For interpretation of Porter’s five forces model – Request a sample report
Global software as a service (SaaS) market – Customer landscape
The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global software as a service (SaaS) market – Segmentation assessment
Segment overview
Technavio has segmented the market based on deployment (public cloud, private cloud, and hybrid cloud).
- The public cloud segment will account for a significant share of the market’s growth during the forecast period. As public cloud services offer multiple advantages, companies invest heavily in them. Some of the advantages of the public cloud are low investment requirements, high availability and multi-tenant capabilities, reduced complexity, flexible pricing, and simplified access to platform solutions such as AI, big data, data analytics, and…
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