North America Software-as-a-Service (SaaS) Market Uncovering Promising Growth Opportunities

Introducing the Most Recent Research Report [2023-2032] on the North America Software-as-a-Service (SaaS) Market: Size, Emerging Trends, Market Share, Remarkable Growth, Segmentation, Comprehensive Analysis, and Forward-Looking Projections for 2032. This report presents an in-depth examination of the critical drivers propelling global market sales. Within its 120 pages, the report delivers a comprehensive evaluation of the industry's current status, encompassing aspects such as market size, market share, anticipated trends, growth rate, distribution channels, and more.

The SaaS market is anticipated to grow at a compound annual growth rate (CAGR) of 15.59% during the forecast period 2018-2023.

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Software-as-a-service (SaaS) is a kind of cloud computing in which a third-party provider manages applications and makes them accessible to consumers over the internet. It removes the need for organisations to install and run applications on their computers or in their data centres, which eliminates the cost of hardware acquisition, provisioning and maintenance, as well as software licensing, installation and support.

Based on the deployment model, the SaaS market can be segmented into public cloud, private cloud and hybrid cloud. The private cloud and public cloud models are showing a positive trend in the market and the companies are trying to employ the hybrid cloud model in the recent future. The public cloud market has the largest market share, whereas the private cloud market is predicted to grow at the highest CAGR.

Depending on application, the SaaS market can be bifurcated into enterprise resource planning (ERP), customer relationship management (CRM), human resource management (HRM), supply chain management (SCM) and others. Other application types include web conferencing platforms, messaging applications and collaborations. HRM has the largest market share and is also predicted to have the highest growth rate in the forecast period.

By vertical, the SaaS market can be segmented into banking, financial services and insurance (BFSI), information technology (IT) and telecommunication, manufacturing, retail, healthcare, education and others. The BFSI segment continues to hold the largest market share in the vertical segment, and the manufacturing segment will be growing at a significant rate during the forecast period.

North America is experiencing large-scale digitalization in every vertical of the region. The digitalization will help the vendors to provide more scalable, flexible and customized solutions to the customers.

Key growth factors

The SaaS adoption is more prevalent in the North American BFSI, manufacturing and retail sectors than other verticals. The region is moving towards digitalization of every vertical industry in the region which further increases the adoption of SaaS cloud services. SaaS incorporated with artificial intelligence (AI), and machine learning is changing the customer services in North America. The area is predicted to develop further, creating path-breaking innovations in the cloud services market.

Threats and key players

The North American SaaS vendors are trying to meet the rising demands of increasing the security and scalability of services. Though North America is a mature market for the SaaS vendors, since there are more advanced technologies emerging, the demand for more secure cloud service remains a challenge for the SaaS providers.

The key players in the market are Symantec Corporation, Google Inc., Fujitsu Ltd., Amazon.com Inc., IBM Corporation, HP, Oracle Corporation, SAP SE, Microsoft Corporation and Salesforce.

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What's covered in the report?

1. Overview of the SaaS market in North America.
2. Market drivers and challenges in the SaaS market in North America.
3. Market trends in the SaaS market in North America.
4. Historical, current and forecasted market size data for the SaaS market in North America.
5. Historical, current and forecasted market size data for the deployments segment (public cloud, private cloud and hybrid cloud).
6. Historical, current and forecasted market size data for the application segment (ERP, CRM, HRM, SCM and others).
7. Historical, current and forecasted market size data for the vertical segment (BFSI, IT and telecommunication, manufacturing, retail, healthcare, education and others).
8. Historical, current and forecasted regional (the United States (US) and Canada) market size data for the SaaS market.
9. Analysis of the SaaS market in North America by value chain.
10. Analysis of the competitive landscape and profiles of major competitors operating in the market.

Why buy?

1. Understand the demand for SaaS to determine the viability of the market.
2. Determine the developed and emerging markets for SaaS.
3. Identify the challenge areas and address them.
4. Develop strategies based on the drivers, trends and highlights for each of the segments.
5. Evaluate the value chain to determine the workflow.
6. Recognize the key competitors of this market and respond accordingly.
7. Knowledge of the initiatives and growth strategies taken by the major companies and decide on the direction of further growth.

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

North America (U.S. & Canada)
Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe)
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa)

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The following are significant aspects of the industry that may be relevant:

Market Size and Growth: The size of the market and its projected growth rate are essential factors that can provide valuable insights into the industry's potential.

Competition: The level of competition in the market is a significant factor that can impact the pricing and profitability of companies operating in the industry.

Technology: Technology plays a critical role in the industry as search algorithms and consumer behavior continue to evolve rapidly.

Consumer Behavior: Understanding consumer behavior, such as search habits and preferences, can help companies optimize their marketing strategies and drive sales.

Regulatory Environment: The industry is subject to various regulatory requirements, including data protection and privacy laws, which can impact the way companies operate in the market.

Economic Factors: Economic factors, such as GDP, inflation, and consumer spending, can affect the growth and profitability of the industry.

Emerging Trends: Staying updated with emerging trends, such as voice search and artificial intelligence, can help companies stay ahead of the curve in the industry.

Reasons to Buy This Report

(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.

(B) The report offers comprehensive analysis of North America Software-as-a-Service (SaaS) market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.

(C) The research includes segmentation of the North America Software-as-a-Service (SaaS) market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.

(D) Analysis of the North America Software-as-a-Service (SaaS) market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.

(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.

(F) The study helps evaluate North America Software-as-a-Service (SaaS) business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.

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This release was published on openPR.