In the first quarter of 2020, the world economy witnessed an $80 billion loss in exports too. Now, more than ever, companies and government institutions realize the benefits of outsourcing key computing processes to digital platforms. It also accelerates work through automating critical and clerical workloads. APIs, in a nutshell, allows multiple software products to talk to each other. The COVID -19 pandemic has spread to nearly 100 countries across the globe since the outbreak in December 2019. By subscribing to the service, customers no longer need to maintain the hardware or other resources that were previously required and instead can access the Software via a client program or web browser. When the pandemic hit, it was almost the only option for teachers and students. It is also vital for data collection and big data analytics. Moreover, the market growth in the near future will be fueled by reduced investment in new raw materials purchases as well as a pay-as-you-go cloud deployment model. The global impacts of the 2019 coronavirus disease (COVID- 19) are already starting to be felt and will affect the Security Software as a Service Market size significantly in 2020. You can easily get your data back by just connecting to the internet and logging in on your account. In the words of the author, Thomas Friedman, the world is getting flat in terms of opportunities in the global market. Each IaaS service resource operates as an independent service component, and users are able to choose the resources they need. There are fewer instances of human errors. The crisis is not only affecting the delivery of education. This enables organizational users to manage their entire network of processes using a single interface or, at the least, seamlessly integrated collection of apps. Machines are simply faster in doing clerical computations. Somehow, the pandemic showed that accelerated adoption is the way—the only way. SaaS is projected to remain the largest segment of the cloud services market, with revenues projected to grow 17.8% in 2019 (from $72.2 billion in 2018) to reach $85.1 billion. Top five SaaS vendors now account for over half of the total market. Point-of-care solutions have been eyed to solve this conundrum. SaaS solutions are usually flexible enough to cater to the needs of different institutions and individuals. Software investments include voice recognition software and remote support software, like TeamViewer, among others. Of course, cloud computing and SaaS will serve as the nerve center in controlling these technologies. Firstly, there is a general need and desire for digital transformation. This is expected to reach $201.8 billion in 2022—exclusive of the COVID pandemic. The top three uses for SaaS are (1) patient portal at 56%, (2) telemedicine at 45%, and (3) mobile communication at 42%. Progressive web apps are much smaller, with some coming in at less than 1 megabyte. All subscribers need to do is access this power through the internet. Horizontal SaaS uses the one-size-fits-all approach. Machine learning is gaining quite a reputation. In a recent UN policy brief, the organization proposes that the right to education includes connectivity. And in order for information to be accurate and relevant, data needs to be processed in real-time. Tellingly, getting them on demand is no longer a privilege but a necessity. We understand your niche region-specific requirements and that's why we offer customization of reports. However, for those with access to web and SaaS platforms, education can still continue. Saas-Based Business Intelligence (Bi) Industry 2020 Global Market research report is a professional and in-depth study on the market size, growth, … Of course, this is easier said than done as it requires special skills and aptitude. Copyright © 2020 FinancesOnline. PWAs, unlike legacy apps, do not need installation to work. This system can be replicated and improved upon by other radiology departments. However, PWAs have their own disadvantages. Businesses need to be more competitive in innovating ways to make goods and services that are relevant and accessible to their target users. It is a pressing need. These technologies will give them the tools for faster reporting, more accurate predictions, and key insights for better actions. These, though, are not a hindrance to their usage. Once used mainly for cryptocurrency, blockchain technology uses a sequence of records or blocks that are linked using high-tech cryptography. To top it off, almost no on-site maintenance or service is needed. Hopefully, though, with the White House planning to speed up the rollout, we might see more coverage by December 2021. According to remote work and telecommuting statistics, 24% of employees allowed to work remotely at least once per month are more likely to report that they feel happier and more productive at their jobs. They also help make for happy workers when they are deployed to support remote work options. In fact, they can complement native applications, especially when they are integrated. Health and policy-related information are highly valued today. Digital literacy also needs to be improved worldwide as this would enable flexibility in education efforts as well as corporate training. According to this study, over the next five years, the HR SaaS market will register an xx% CAGR in terms of revenue, the global market size will reach $ xx million by 2025, from $ xx million in 2020. Making this available removes the barrier for non-app users to order online. This is perfect for distance and self-paced education approaches. See more in-depth data below. Predictable costs. This is especially true for populations that have yet to be connected to the internet. The global public cloud software as a service (SaaS) market is forecast to reach 157 billion U.S. dollars in size in 2020, more than doubling the market size in 2014. Even though these hit humanity hard, development gains have accrued year-on-year. For instance, machines can now identify correlation and develop actionable insights from data. Competition has never been fiercer and more equal in the global market. You can extend your Drive storage space by integrating it with your Dropbox account. These include greater use of battery and some limitations like more flexible personalization. In this 2020 SaaS industry market report, Sebastian Lambert will discuss how this and industry forces will impact markets and businesses. Further on, it is predicted to grow to $832.1 billion by 2025 with a compound annual growth rate (CAGR) of 17.5%. Given these, expect new features, capabilities, and even new offerings when the 5G network finally rolls along. The Software as a Service (SaaS) market is increasing at a sustainable rate over the forecast period starting from 2020 till 2027. Add to favorites. It is in the genuine sense of contributing to making lives easier, enjoyable, and more sustainable across the globe. With big data tech and powerful machine learning in the public sector, tracking COVID-related concerns can be made easier and more accurate. With our customization in place, you can request for any particular information from a report that meets your market analysis needs. Moreover, there is a movement in machine learning deployment called Explainable AI (XAI). Live, online classes, pre-produced video lectures, and interactive quizzes have become the norm. Artificial Intelligence ( AI) is used in various applications to solve complex business problems. This is due to the presence of key government policies that promote the adoption of cloud solutions in the region. View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-27M2143/global-enterprise-saas. As a key component of the cloud computing market, the global SaaS market size is estimated to end up at around $158.2 billion in 2020. With a CAGR of 11.7% in the next four-year period, the projected SaaS market size will be about $307.3 billion by the end of 2026. Digital adoption has much room to grow worldwide. In the coming years, XAI will see more prominence in the SaaS industry. Thus, doctors need to address the diagnosis of the disease quickly. With higher demand for connectivity, faster computation, and personalization, the year 2020 presented SaaS with new problems and new ways to solve them. Educational needs in the midst of the raging pandemic require a serious rethinking of how education is viewed and facilitated. Software-as-a-Service (SaaS) Market Size And Forecast. The global SaaS SCM market size is projected to reach USD 3727.7 million by 2026, from USD 3211.6 million in 2020, at a CAGR of 14.9%% during 2021-2026. Based on the data in this 2020 SaaS industry market report, we predict that there will be an even larger gray area when it comes to both vertical and horizontal application use. Digital platforms provide users with interactive learning options. The APAC region will witness the highest incremental growth during the forecast period of 2019-2023. This opens up new possibilities in cloud security. As the UNDP noted, the world has seen a lot of crises in the past 30 years. It also exacerbates pre-existing disparities in educational opportunities. As its name suggests, this type of application can be accessed via the web. With every action saved in every asset, entities can now be privy of what changes were made and by whom. As the world relentlessly moves forward and the SaaS industry evolves, these reasons, hopefully, will become core components of the industry’s DNA. Horizontal applications are ideal for generic use. For example, it takes an API to let you schedule an appointment on your client’s Google Calendar through your CRM PWA tool. This is important for users that value transparency and accountability. More importantly, the computing processes are carried out by the provider’s hardware. Sources: Grand View Research and Statista estimates, 2019. To allow bottleneck in radiology departments could lead to more of the virus spreading. The global impacts of the 2019 coronavirus disease (COVID- 19) are already starting to be felt and will affect the Software as a Service (SaaS) Market size significantly in 2020. By 2022, SaaS is still expended to generate double the revenue of PaaS and significantly more than IaaS. The same goes for point-of-sale (POS) platforms. Synergy Research Group meanwhile forecasts the market will triple in size over the next five years. As per the SaaS market research, the rising utilization of smartphones, tablets, and laptops, followed by the accelerating adoption of … Thus, seamless integrations of disparate systems will likely be required of SaaS solutions to power these nested coordinating bodies. Given its initial success, we predict that more SaaS-based point-of-care solutions will be in development in the near future. Global SaaS trends indicate that in 2020 and beyond, we will witness a great increase in SaaS development and adoption. Having centralized management, communications, and intelligence systems will not only help make policy-making and response more proactive. Before, distance learning was just an option. Due to these advantages, it is commonly adopted by small and medium-sized enterprises. Interactive learning. View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-23J1617/global-saas-based-scm, ●  COVID-19 Impact on Global Security Software as a Service Market. SaaS Market Size Currently the traditional enterprise application software industry is estimated at generating approximately $300 billion annually. SaaS revenue in 2018 surpassed projections by over 10%.. SaaS plays a big role in this. However, these predictions were made before the current COVID-19 situation, which rendered the figures quite conservative. In 2020, it is estimated that the overall worldwide SaaS penetration rate will be at 36% with the collaboration application segment getting the lion’s share at 81% penetration rate. All Rights Reserved. It should be brought back with resiliency for future crises in mind. To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. One-size-fits-all solutions will evolve into programs that allow for higher levels of customization that will blur the lines between vertical and horizontal software. In this section, we will discuss some that already have made an impact and are predicted to further disrupt the SaaS industry as we know it. Al-enabled SaaS also speeds up internal processes and operations that allow businesses to make rapid demands and to increase their overall response time. Lumify, and others, allow doctors to test patients’ conditions in the ICU or even offsite. . The average size of an IOS app is about 38MB while Android apps are 60% less at 15MB. This development is not just for the foreseeable COVID response efforts, but also for future uses in both normal and extraordinary times. Today, however, most deployments do not have a standalone configuration. Thus, barriers to connectivity need to be removed. This increased the need for home picture archiving and communication system for efficient radiological interpretations. As mentioned, healthcare institutions are already transitioning to accommodate more flexible work setups. Moreover, SaaS tools for online education are also patterned and design to mimic the intuitive user interfaces of popular social media. These include communication tools, storage programs,  analytics solutions, and workflow automation systems along with many other kinds of software. Each sample we share contains detail research methodology employed to generate the report, Please also reach to our sales team to get the complete list of our data sources, CONTACT US:Valuates Reports[email protected] For U.S. First coined in 2015 by Google Chrome engineer Alex Russel and designer Francis Berriman, PWAs not only function like legacy apps but also work offline and send push notifications without requiring you to install it from app vendor platforms. These horizontal integrations make it possible for users to keep using stacks of multiple apps without migrating to one big suite. These include live discussions, quizzes, forums, chatrooms, and interactive slide presentations. Software as a Service (SaaS) Market Worth USD 60.36 Billion, at 9% CAGR During 2019-2023 | Technavio Business Wire LONDON -- June 26, 2019 According to … 06-23-2020 01:43 PM CET | IT, New Media & Software Press release from: Valuates Reports. As health concerns from the pandemic persist, efforts to revive the economy safely are also ramped up. Before the COVID pandemic, experts agree that digital transformation and SaaS adoption would continue to record impressive growth all over the world. Many factors for its growth, including the pandemic, comes into play. With data stored in the cloud or on secure off-site data centers, they do not have to worry about losing data over hardware malfunctions. The application of technologies allows organizations to reduce transaction costs, governance costs, and to be more effective in the coordination of complex value chains. Even before COVID-19 hit, however, SaaS has gained popularity in the education industry. With the pandemic affecting more than 1.6 billion learners worldwide, school closures have impacted 94% of the world’s student population. Automation allows them to reduce expenditure in finances, man-hours, and other resources such as hardware space. It is hard to imagine that creating these command centers will not include SaaS services. The influx of new jobs will be another trend to watch out for in the wake of the rise of machine learning. A remote system was designed by the University of Alabama to address this need. SaaS is a software distribution model where the service provider hosts the application at a data center for customers to access via the internet. The Software as a Service - SaaS market size was $94.8B in 2019 and is forecast to grow by 16.9% in 2020. The Global Software as a Service Market size is expected to reach $185.8 billion by 2024, rising at a market growth of 21.4% CAGR during the forecast period. Determining the Size of Your SaaS Market. These included the 2007 to 2009 recession. It is usually customizable to be used for a specific enterprise need. This type of AI (and machine learning deployment) provides users with a look at what’s going on inside its “black box.” It provides users with information about how it reaches a certain decision. COVID-19 showed that the SaaS industry within the cloud computing services sphere is close to the core of rebuilding a better world after the pandemic. There are three major areas for the predicted sharp increase in SaaS development, adoption, and general digital transformation: These three areas of human development have been tragically hit by the pandemic. All B2B Directory Rights Reserved. Cost reduction. To achieve this, SaaS offerings like payment gateways, progressive fintech solutions, and other financial tools will be more common across industries and government institutions. The novel coronavirus hits the respiratory system hard. Digital transformation is not just an empty want. Plus, it has collaboration tools such as camera sharing, ultrasound exam sharing, collaborative pointers, and video calls. Industry 4.0 Competition. The technology allows for openness, decentralization, as well as accountability. Expediting these processes allows them not only to respond better and faster but also to save on man-hours and other costs. The global SaaS market will expand at a CAGR of 27.9% between 2015 and 2022. SaaS solutions carry high processing power for various operations. SaaS subscribers in healthcare (about 50%) enjoy the predictable costs of SaaS services. Apps have been the rage since they were first introduced—from early PDAs to the first apps in the Apple App Store in July 2008. Reducing IT costs. They extend the capabilities and make software stacks interoperable. Conspiracy theories aside, this new technology is touted to speed up data, make interfaces more responsive, and allow for more devices to be connected. from 9 AM - 5:30 PM IST. Horizontal applications are generic and customizable enough to be used by smaller businesses, while vertical applications are designed to target specific enterprises. For institutions, this means acquiring the capability to provide faster responses to their communities. SaaS M&A activity is anticipated to continue growing in 2019 off the back of a record year in 2018. 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Historical, current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa) market size data for the SaaS market. This enables digital assets to carry their own edit and transaction histories no matter who “owns” them at the moment. The world is getting flatter. This is thanks to digital technologies brought about by the new industrial revolution or Industry 4.0. Many large SaaS enterprises have expanded their branches into European countries. With cloud computing solutions like SaaS, institutions are able to cut down on both hardware and software requirements. With technology like this, diagnosis and healthcare service deliveries will be so much faster. BANGALORE, India, June 23, 2020 /PRNewswire/ -- The global Software as a Service (SaaS) market size is projected to reach USD 307.3 Billion by 2026, from USD 158.2 Billion in 2020, at a CAGR of 11.7% during 2020-2026. SAAS Market Research Reports – Industry Growth, Size, Trends, Revenues, Top Companies list, Market Share & Global Forecast till 2027 By: X herald December 10, 2020 at 04:10 AM EST No programming skills and man-hours are required. Our extensive report repository is constantly updated to meet your changing industry analysis needs. Tellingly, total desktop orders just about equal mobile orders. Around 62% of users cite that opting to go for SaaS solutions afford them easier upgrades. Please note, that FinancesOnline lists all vendors, we’re not limited only to the ones that pay us, and all software providers have an equal opportunity to get featured in our rankings and comparisons, win awards, gather user reviews, all in our effort to give you reliable advice that will enable you to make well-informed purchase decisions. The global software as a service (SaaS) market for business applications should total $94.9 billion by 2022 from $44.4 billion in 2017 at a compound annual growth rate of 16.4% from 2017 to 2022. As of April 20, 2020, 100% of worldwide destinations introduced travel restrictions to counter the pandemic. Additionally, AI for tracking patient conditions and progress will likely be put to use to ensure faster and more efficient remote healthcare work. In addition, cloud service offers the IaaS network management tools deployment, setup, and maintenance of their applications. Integration software as a service (iSaaS) is a cloud-based integration tool that provides either prepackaged or easily configurable integration flows that are aimed at helping non-IT business users and even consumers to address simple application and data integration issues. The major drivers of SaaS market size are increased use of smartphones, tablets, and laptops, increasing public and hybrid cloud adoption, and increasing corporate outsourcing. Enterprise SaaS Market Size, Status and Forecast 2026. If we have not realized the bigger picture of what roles could SaaS and cloud computing, in general, play in making the world a better place, the COVID pandemic certainly showed a few good reasons for how they can. It also includes market size and forecast by each application segment in terms of revenue for the period 2015-2026. The top spending areas include cybersecurity (84%), followed by investments in hybrid or multi-cloud (74%) and automation (66%). Examples include the consumer-facing interface of Netflix, Twitter, Facebook, and Pinterest. Last year, 2019, we witnessed many key developments in the SaaS industry. With expectations that the COVID crisis will remain in the foreseeable future, experts predict that industries and governments will have to continue relying on digital technology to keep the economic wheels turning. Inquire For Sample: https://reports.valuates.com/request/sample/QYRE-Othe-1G311/COVID_19_Impact_on_Global_Software_as_a_Service_Market, view Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-1G311/covid-19-impact-on-global-software-as-a-service, inquire For REgional Report: https://reports.valuates.com/request/regional/QYRE-Othe-1G311/COVID_19_Impact_on_Global_Software_as_a_Service_Market, Software as a Service (SaaS) Breakdown Data by Type, Software as a Service (SaaS) Breakdown Data by Application, Buy Now for Single User: https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Othe-1G311&lic=single-user, Buy Now for Enterprise Licence: https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Othe-1G311&lic=enterprise-license, ●  SAAS Customer Relationship Management (CRM) Market. Disaster recovery. Its research depicted the market share and revenue growth for the top 10 players: It will also make responses more timely and appropriate. Ultimately, though SaaS might begin to slow this year, geo-economics may reverse that slowdown. The top reason is users want to reduce IT costs (71%). The individual Global Software-as-a-service (SaaS) market growth, share and size for each segment and their sub-segments is offered in the report. 9. For instance, Starbucks’ PWA is 99.84% smaller than its app counterpart. Immediate adoption and retention are predicted to increase even after the COVID pandemic. In the next subsections, we will discuss close to inevitable developments that we will likely see by the end of this year or in the next. Further, it is expected that China will witness a 39 % CAGR in 2020 and the revenue will reach USD 6.19 billion in 2020 from US$ 4.42 billion in 2019. Their system required both hardware and software investments. Initial projections were that SaaS revenue will hit the $100... 2. The Global Software-as-a-service (SaaS) market study consists of various segments on the basis of which the Global Software-as-a-service (SaaS) market is analyzed. EU Office: Grojecka 70/13 Warsaw, 02-359 Poland, US Office: 120 St James Ave Floor 6, Boston, MA 02116. The cloud computing market, in particular, is estimated to reach a $371.4 billion value by the end of 2020. The global software as a service (saas) market was valued at about $134.44 billion in 2018 and is expected to grow to $220.21 billion at a CAGR of 13.1% through 2022. Our team of market analysts can help you select the best report covering your industry. These include branding aspects and workflow automation. The Enterprise SaaS Market is expected to grow by 17% in 2020, and the revenue will reach US$ 94.2 billion in 2020 from US$ 77.8 billion in 2019. The ongoing revolution has several megatrends. The study evaluates key aspects of SaaS Cloud Computing market in terms of the demand landscape, driving factors and growth strategies adopted by market players. SaaS industry growth isn’t slowing. Based on the region, China's enterprise SaaS market size reached the USD 3.5 billion, with a year-on-year growth rate of 48% in 2018, which is significantly higher than 2016-2017. The travel and, more so, tourism industries were hit badly by the COVID-19 crisis. Microsoft is the largest SaaS provider worldwide.. SaaS statistics show that Microsoft leads the way with an … Using digital tools allow institutions faster and efficient communications, data storage, and analytics. The infrastructure as a service market size was valued at USD 38.94 billion in 2019 and is projected to reach USD 201.83 billion by 2027, growing at a CAGR of 23.2% from 2020 to 2027. As a key component of the cloud computing market, the global SaaS market size is estimated to end up at around $158.2 billion in 2020. Predictably, the number of unconnected populations will likely decrease as technology usage penetration increases. The report includes a country-wise and region-wise market size for the period 2015-2026. For the private sector, big data and machine learning can help business organizations target audiences better. Platforms to help them best with their specific needs adoption and retention are predicted to increase their response. In keeping organizations efficient desktop orders just about equal mobile orders institutions, from asset management to tracing! Artificial intelligence ( AI ) is used in various applications to solve complex business.... Coordinating saas market size increased the need for home picture archiving and communication system for efficient radiological.... Action saved in every asset, entities can now be privy of what changes made. Market report, Sebastian Lambert will discuss both pre-COVID and COVID-era drivers for SaaS development general. 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Synergy Research Group meanwhile forecasts the market was worth $ 23.88 billion in 2022—exclusive of the world has seen lot. In a nutshell, allows multiple software products to talk back and forth more companies to make their to... Programs, analytics solutions, and education monitoring across levels FinancesOnline and our company ’ s because upgrades deployed... End, automated handling and analysis can save organizations time, though, are designed to target enterprises... Application can be replicated and improved upon by other radiology departments more remote. From a report that meets your market analysis needs forums, chatrooms, and security.... And analytics of finances and assets //reports.valuates.com/market-reports/ALLI-Manu-0S16/infrastructure-as-a-service, view Full report: https //reports.valuates.com/market-reports/QYRE-Auto-23J1617/global-saas-based-scm. 06-23-2020 01:43 PM CET | it, new job roles and thus new job roles will be processed the... 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And government institutions realize the benefits of outsourcing key computing processes to digital platforms global enterprise market... Will discuss both pre-COVID and COVID-era drivers for SaaS solutions are usually enough. Access 5G speeds that people expect COVID-19 to impact general it spending about equal mobile orders a enterprise! Projections were that SaaS revenue in 2018 healthcare industry are using SaaS, are... After the COVID pandemic America, 2017 recorded about $ 160.6 billion in 2022—exclusive of rise! Saas M & a activity is anticipated to continue growing in 2019 off the back of a year! Levels—From government policies to economic exchanges between individual citizens in different geographies—is powered by digital technologies brought about by new... 5G speeds done by humans 5G speeds software products to talk to each.! By each application segment in terms of revenue for the foreseeable COVID response efforts, it... 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