Despite the fact that the pandemic has caused a significant slowdown, the global SaaS industry has introduced several solutions to help businesses thrive in a competitive market.
Many companies have struggled to function and to earn profits, but several SaaS solutions have benefited them, even allowing for remote operation.
SaaS has become increasingly popular and has converted many businesses to a more advanced operational level. It is also projected that by 2025, 85% of software used by businesses would be SaaS.
Let’s get started and learn more about the SaaS statistics and SaaS trends that contribute to the growth and advancement of the SaaS market.
SaaS statistics 2023
In last 12 months, IT consolidated redundant SaaS apps
Challenges of managing a SaaS environment
Nations and the number of SaaS companies
Here’s a list of the top SaaS-producing countries:
SaaS trends and projections
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The SaaS business continues to expand and adopt rapidly, fueled by rising demand for cloud-based solutions and the advantages they provide over traditional software.
SaaS statistics and facts show the evolving SaaS marketplace helps organizations that can create creative, user-friendly, and cost-effective solutions. It is predicted that the sector will continue to develop and mature, with new SaaS trends and innovations appearing, as the need for SaaS solutions grows.
How big is the SaaS industry?
SaaS is globally adapted in almost every industry and in 2021, it is estimated to be worth approximately 146 billion U.S. dollars and estimated to reach 195 billion U.S. dollars by 2023.
Why are companies using more SaaS?
Here are some of the reasons why businesses are increasingly embracing SaaS:
- Easy accessibility
- Easy to use
- Automation helps in reducing manual labor
- Adapting to new technology enables organizations to grow in a competitive market.
What percentage of companies use SaaS?
Companies believe that 70% of the commercial software they use today are SaaS-based. Additionally, it is predicted that by 2025, this will rise to 85%.
Is the SaaS market growing?
According to the recent market research by 2026, it is predicted that 50% of organizations will centralize SaaS application management. As more companies adopt SaaS solutions to improve their business processes, the SaaS market is expected to continue to grow, with increased competition and innovation driving further growth and development in the industry.
Why is SaaS so popular?
SaaS is largely popular as this software delivery method offers businesses with a lot of flexibility and cost-effectiveness. Because of its ease of use, user accessibility, security, and extensive connectivity, it is also popular among businesses. It also reduces the cost of installation and as well as expenses on maintenance and upgrades.