September 26, 2020 | software | No Comments
Software as a Service (SaaS), also known as cloud-based software, has transformed the enterprise software industry over the past decade. SaaS companies build their products on top of cloud infrastructure and provide solutions for multiple levels of enterprise business operations and across most industry verticals.
SaaS has grown its share of the global enterprise software market from less than 2% in 2009 to 23% in 2019. By 2022, the global SaaS market is expected to be worth $140.63 billion. For customers, the service can offer greater access, convenience, and flexibility at a lower cost. And for vendors, it is easier, faster, and less expensive to roll out and sell to customers compared with traditional on-premises software development.
As enterprise SaaS matures, providers are making tactical shifts in their strategy and growth approaches to adapt to changing business needs and market