According to a new market research study titled ‘Software as a Service Market to 2025 – Global Analysis and Forecasts by Deployment Model, Applications and End-user’, the value of global software as a service market in 2015 was US$ 34.78 Bn and is estimated to reach US$ 418.92 Bn by 2025. The report brings to light the trends prevalent in the global SaaS market and the factors driving the market along with the restraining factors for the same.

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Concerns regarding the privacy and security of data have been the biggest factor that has refrained organizations from adopting the SaaS solutions. Companies with mission critical data have preferred the traditional on-premise legacy systems to manage their data. Enhanced data protection for such mission critical and sensitive data would be a differentiating factor for SaaS vendors. This differentiation would serve as a huge opportunity for large organizations to adopt SaaS-based solutions and further strengthen its market.

Using applications via a web browser and handling it remotely reduces the concerns of maintenance and other costs but it transfers the control of applications to the third-party vendor. In Software as a Service model, any organization who wants to use an application, uses it on a third-party basis. Sometimes security concerns are raised by organizations with the power being in the hands of the SaaS vendor especially in cases of mission critical applications. This totally depends on the comfort level of the organization whether it is willing to use software which are controlled by a third-party vendor or deploy an on-premise software model. Security concerns are always a troublesome for an organization. Identity and access management always become a critical issue while entrusting control to a third-party vendor for company sensitive data and business processes.

In the current scenario, the public cloud model leads the market and it is preferred by many small organizations that do not have stringent security and data privacy issues. Larger organizations prefer the private or hybrid cloud deployment model for their mission critical applications. Private cloud models are relatively costly when compared to the public cloud models and hence require significant investments. To attract a greater number of large organizations for SaaS adoption, enhancing data security as per their requirements can attract more investments and result in the proliferation of the technology at a much quicker rate.

Overall the software as a service market has been segmented on the basis of deployment models, the applications and on the basis of end users they cater to and geographical segmentation. Private cloud, public cloud and hybrid cloud are the deployment models into which this market has been segmented. Additionally, on the basis of applications, the global software as a service market is segmented into Customer Relationship Management (CRM), Human Resource Management (HRM), Enterprise Resource Planning (ERP), Supply Chain Management (SCM) and others. On the basis of end-users, the global software as a service market is segmented into Small and Medium sized enterprises, Large Scale Enterprises and Government. Geographically, the market is segmented into North America, Asia Pacific (APAC), Europe, South America (SAM) and Middle East & Africa (MEA).

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