SaaS Market size is projected to reach USD 344.3 billion by 2028
SaaS Industry Overview The global SaaS market size was valued at USD 165.9 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 11.0% from 2022 to 2028. Software as a Service (SaaS) is a cloud service that provides software applications virtually through the internet. The rising adoption of public cloud services across enterprises is one of the major factors that propel the market growth during the forecast period. The growing shift of enterprises towards SaaS from an on-premises model owing to the high cost of the on-premises software deployment is further projected to propel the growth of the market for SaaS over the forecast period. However, the concern related to data privacy and security related to the public cloud is projected to hinder the market growth. Gather more insights about the market drivers, restrains and growth of the Global SaaS Market The significant increase in the adoption of emails, instant messa...