Software as a Service (SaaS)
Software as a Service (SaaS) is a cloud-based software delivery model in which users access applications over the Internet, usually through a web browser, rather than purchasing and installing them on their own devices.
SaaS market is booming
The global SaaS market is forecast to reach about $1251.35 billion by 2034
The SaaS sector is in a strong growth phase and offers many opportunities for businesses looking to harness the power of the cloud and digital transformation. This is all due to the popularity of artificial intelligence (AI) and the trend of basing the business model of services on deeper integration with AI.
- SaaS market expected to reach $408.21 billion in 2025
- SaaS model offers operational flexibility, reduced IT costs and faster response to market changes
- an important advantage of the SaaS model is faster time-to-market
- This percentage is expected to rise to 22.6% by 2027.
Figures
SaaS sector in numbers
It is estimated that the SaaS market will continue to grow, with a compound annual growth rate (CAGR) of 18.3% between 2023 and 2030, and that its value will reach $716 billion by 2030. Projections say that demand for cloud-based software solutions will continue, due to their operational flexibility and reduced costs.
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average annual growth rate of the industry
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projected SaaS market value in 2025
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projected value market will reach by 2034
Future
Key trends in the SaaS sector
The coming years will bring important trends in SaaS products:
- Using artificial intelligence: AI will revolutionize SaaS processes and data analysis, automating many tasks and increasing efficiency
- Increasing data security: with the growing number of online threats and scrutiny of data protection, SaaS providers must prioritize security in the cloud.
- Low-code/no-code platforms: developing applications with minimal coding is becoming increasingly popular, and the value of this market is expected to grow significantly.
- Focus on vertical industries: industry-specific SaaS software will play an increasingly important role.
Make sure you're ready, as these will be crucial to maintaining your competitive edge or catching up with your competitors and the success of your product.
