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(I-SoftwareNews.Com, October 09, 2018 ) The global Software as a Service Market was estimated at USD 34.78 Bn in 2014. The Software as a Service Market is expected to grow at a CAGR of 28.3% between 2014 and 2025, to reach USD 418.92 Bn in the year 2025. Using applications via a web browser and handling it remotely reduces the concerns of maintenance and other costs but it transfers the control of applications to the third party vendor. In Software as a Service model, any organization who wants to use an application, uses it on a third party basis. Sometimes security concerns are raised by organizations with the power being in the hands of the SaaS vendor especially in cases of mission critical applications.
The report on Software as a Service Market profiles key players such as Symantec Corporation, Google, Inc., Fujitsu Ltd., Amazon.com, Inc., ADP, LLC, IBM Corporation, Salesforce.com, Inc., Workday, Inc., Oracle Corporation, SAP SE and Microsoft Corporation are some of the major players in the global Software as a Service market.
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Software as a Service is there to replace the traditional application service provider model on account of various benefits it caters. SaaS basically can be deployed into organizations via three different deployment models. Each model has its own advantages and disadvantages but the public cloud deployment model has been the largest adopted model for this market SaaS providers generally develop and manage their own software. The differentiating point between ASPs and SaaS vendors is that ASPs offer conventional client-server models that require installation of software at the client’s premises, however SaaS requires a web browser and eliminates the need to install at the client’s premise. In addition, major initial ASPs offered a separate instance of the user application for each enterprise, however, a software distribution model that allows sharing of applications and allowing access to organizations via a single tenant or multi-tenant architecture is basically SaaS.
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Salesforce.com is the pioneer in enterprise SaaS-based CRM solutions globally. Salesfroce.com is the world’s largest provider of SaaS-based CRM solutions. Workday, Inc. is another pioneer in SaaS-based HRM applications. Both companies have established themselves as the market leaders in respective SaaS-based application providers segment. Good CRM and HRM become one of the integral parts of any organization’s success. Customers and employees, both are assets for any organization in the medium to long term for a business. Organizations thus have realized the importance of CRM and HRM are effectively employed. This need for improved customer and employee services coupled with the benefits of cloud technology would further impact the growth of SaaS market.
Paying for a software as per the usage on a subscription basis rather than fully owning can be defined as Software as a service (SaaS). SaaS applications are accessed using a web browser from a remote location and eliminates the hassles of installing, upgrading and maintaining the software for the owner. As a business delivery model for many corporate applications SaaS provides a huge variety of software to industries from various verticals and the software include database management software, messaging software, enterprise resource planning (ERP), gaming applications, service desk management, payroll software, computer designing software, customer relationship management (CRM), content management (CM), development software, virtualization software, collaboration, ), invoicing, talent acquisition accounting, management information systems (MIS), human resource management (HRM) and antivirus software. SaaS has been integrated by major upcoming and leading software companies with major adoptions witnessed by the SME’s. The advantage offered by SaaS is the cost reductions associated with it and the eliminations of hidden costs.
Table of Content:
1.1 The Insight Partners Research Report Guidance
2 Key Takeaways
3 Market Landscape
3.2 Market Segmentation
3.2.1 By Deployment Model
3.2.2 By Applications
3.2.3 By End user
3.2.4 By Geography
4 Software as a Service Market - Key Industry Dynamics
4.1 Key Market Drivers
4.2 Key Market Restraints
4.3 Key Market Opportunities
4.4 Future Trends
5 Software as a Service Market- Porters Fiver Forces Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power of Suppliers
5.1.2 Bargaining Power of Buyers
5.1.3 Threat of Substitutes
5.1.4 Threat of New Entrants
5.1.5 Degree of Competition
The Insight Partners