How Big is Software as a Service (SaaS)?
Software as a Service (SaaS) is a type of cloud computing that provides businesses with a way to access software applications over the internet. In the past, businesses needed to purchase and install software on their own computers. With SaaS, businesses can access software applications through the cloud, eliminating the need to purchase and install software.
SaaS has become increasingly popular in recent years, and it is becoming an increasingly important part of the business world. In fact, it has grown to become a $100 billion industry, and it is expected to continue to grow in the coming years.
But just how big is SaaS? To understand the size of this industry, it’s important to look at several key metrics.
Market Size
The size of the SaaS market is estimated to be around $100 billion. This includes revenue from software subscriptions, platform services, and services such as training and support. This figure is expected to grow significantly over the next few years, with some estimates predicting that it will reach $300 billion by 2025.
Growth Rate
The growth rate of the SaaS market is also impressive. The market is estimated to grow at an annual rate of 12-15%. This rate is significantly higher than the global software market, which is estimated to grow at around 6-8%.
Number of Companies
As of 2021, there are an estimated 40,000 SaaS companies operating around the world. This number is expected to grow significantly over the coming years, as more companies move to SaaS solutions.
Number of Users
According to some estimates, there are currently over 1 billion users of SaaS applications. This number is expected to grow significantly in the coming years, as more companies adopt SaaS solutions.
Conclusion
SaaS is a rapidly growing industry, and it is becoming an increasingly important part of the business world. The size of the SaaS market is estimated to be around $100 billion, and it is expected to grow at an annual rate of 12-15%. There are an estimated 40,000 SaaS companies operating around the world, and over 1 billion users of SaaS applications. As SaaS becomes increasingly popular, it is likely that these numbers will continue to grow in the coming years.