ResearchAndMarkets has published a new report into the global SaaS market which says that cost efficiency and business continuity needs are driving growth in this area.
The report, ‘Global SaaS (Software-as-a-Service) Market (2022 Edition)’ says that to achieve cost efficiency and business continuity, the pandemic has encouraged the use of on-demand, scalable cloud models. It is giving enterprises the impetus they need to expedite their digital business transformation initiatives. As a result, the use of SaaS and other cloud computing solutions is expanding.
North America is estimated to have held the highest share of the global SAAS Market in 2021 but during the forecast period, Asia-Pacific is set to be the fastest-growing regional market.
Growing use of smartphones, tablets, and laptops, increased public and hybrid cloud adoption, and increased corporate outsourcing are the key drivers of SaaS market size. Another factor driving market growth over the projection period is the increasing adoption of micro SaaS.