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The North America software as a service market size reached approximately USD 145.43 billion in 2023. The market is projected to grow at a CAGR of 11.1% between 2024 and 2032, reaching a value of around USD 379.01 billion by 2032.
Software as a service (SaaS) is a cloud-based delivery model in which the user can access applications through subscription instead of buying and installing the app on their system. It is a user-friendly and cost-efficient model that offers scalable solutions depending upon the requirements of users.
The rising popularity of SaaS in remote and hybrid work environments, due to its accessibility and scalability, is one of the major trends positively influencing the North America software as a service market growth. SaaS solutions can be accessed 24/7 access on mobile, tablet, and laptops, among other devices, from anywhere and also facilitate easy collaboration between employees present in different locations.
Rising adoption of vertical SaaS; integration of AI and ML in SaaS; rising deployment of SaaS in the cloud; and growing trend of mobile SaaS are positively impacting the North America software as a service market growth
Jan 23rd 2024
Analytic Edge announced the launch of a Software as a Service (SaaS) platform, Analytic Edge Qube, that provides companies with an all-in-one toolkit for marketing analytics.
Oct 25th 2023
RSA announced strategic investments to increase its Canadian SaaS business by 4 times year-on-year (YoY).
Aug 2nd 2023
Innovapptive announced the launch of mRounds, its SaaS-based version of its mobile operator rounds product that offers digitisation ability to organisations.
Apr 4th 2023
Spendflo, a SaaS platform, raised USD 11 million, led by Prosus Ventures and Accel to strengthen its presence in North America and expand its global footprints.
Rising adoption of vertical SaaS
There is a rising adoption of vertical SaaS solutions that offer software solutions to clients based in specific industry verticals and provide improved functionality and increased operational efficiency.
Integration of AI and ML in SaaS
AI and machine learning are increasingly integrated in SaaS solutions to provide enhanced personalisation, automate mundane and repetitive tasks, and improve security.
Growing deployment of SaaS in the cloud
Organisations are adopting cloud-based SaaS to enhance scalability, develop innovative features, access applications from any location from devices or locations, and facilitate collaboration.
The rising trend of mobile SaaS
Mobile native SaaS solutions that can enable the accessibility to business applications and data on the go while eliminating downtime and facilitating collaboration are gaining popularity.
The advent of advanced technologies such as AI and machine learning in SaaS to speed up internal processes, identify customer interest and behaviour, and provide deep insights to gain a competitive edge also offers lucrative opportunities for the North America software as a service market demand.
Increased launch of SaaS platforms for public and private cloud infrastructure by market players is another prominent trend boosting the North American market. For example, in May 2023, IBM, a computer technology leader, launched IBM Hybrid Cloud mesh, a SaaS product, that offers a simple and consolidated platform to enterprises for the deployment of applications across multi and hybrid cloud.
“North America Software as a Service Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Deployment
Market Breakup by Solution
Market Breakup by Enterprise Size
Market Division by End Use
Market Bifurcation by Country
The deployment of private cloud is significantly rising as it offers enhanced security and data control
Private cloud occupies a significant portion of the North America software as a service market share as it offers superior data control and security to organisations compared to the public cloud. Factors such as reduced risk of a data breach as well as better customisation of the application according to the organisation’s demand also boost the segment’s growth.
Meanwhile, hybrid cloud is anticipated to gain sizeable growth in the coming years as it addresses both the scalability and security demands of an organisation by offering the benefits of public and private clouds.
The adoption of SaaS among large enterprises is increasing due to their evolving needs and the rising demand for scalability
As per the North America software as a service market analysis, large enterprise accounts for a major market share, due to the rising adoption of multi and hybrid cloud-based SaaS products to meet diverse business needs. These enterprises generally require a scalable solution for performing extensive operations, which further offers a positive market outlook.
SaaS solutions also offer seamless connectivity and collaboration to the employees and teams of the large enterprise that are dispersed across the globe. Meanwhile, the adoption of SaaS by small and medium-sized enterprises is significantly surging as it eliminates spending on software or hardware, provides flexibility and scalability, and offers ease of usage.
Major companies included in the market are deploying new technologies in SaaS applications to enhance their efficiency
Oracle Corp.
Oracle Corp. is a multinational technology corporation, founded in 1977 and based in Texas, the United States. The company primarily offers its services in the sectors of automotive, communications, energy and water, food and beverage, oil and gas, and retail, among others.
SAS Institute Inc.
SAS Institute Inc., incorporated in 1976 and headquartered in North Carolina, the United States, is a global leader in analytics. The company helps organisations make data-driven decisions through its next-gen data engineering solutions.
Teradata Corp.
Teradata Corp., established in 1979 and based in California, the United States, is a software provider. The company is primarily known for its Teradata VantageCloud platform, which meets the diverse needs of businesses and optimises their productivity.
Cloud Software Group, Inc.
Cloud Software Group, Inc. is a company that supports organisations to transform and adapt to meet challenges across managed, private, public, and sovereign environments. It supports customers to compete and evolve by leveraging software franchises across insight, automation, and collaboration.
Other key players in the North America software as a service market are Microsoft Corp., SAP SE, Cisco Systems, Inc., Adobe Inc., IBM Corp., Salesforce, Inc., and Amazon Web Services, Inc., among others.
The market in the United States can be attributed to the rising adoption of SaaS as an affordable alternative to traditional IT deployments. Businesses in the region are also adopting SaaS to streamline their operations and gain a competitive edge. Moreover, the increasing adoption of cloud computing and the development of innovative SaaS services and solutions that can be integrated with the cloud are also aiding the regional market expansion.
Meanwhile, Canada is home to more than 6,800 SaaS companies, including Hootsuite, Shopify, SkyHive, and Wave Accounting, among others. In the country, regions like Ontario are leading technological hubs and exporters of IT services and products. Increasing investments in R&D activities are further fuelling the North America software as a service market demand.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Deployment |
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Breakup by Solution |
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Breakup by Enterprise Type |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Software as a Service Market Overview
8.1 Key Industry Highlights
8.2 Global Software as a Service Historical Market (2018-2023)
8.3 Global Software as a Service Market Forecast (2024-2032)
8.4 Global Software as a Service Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 North America Software as a Service Market Overview
9.1 Key Industry Highlights
9.2 North America Software as a Service Historical Market (2018-2023)
9.3 North America Software as a Service Market Forecast (2024-2032)
10 North America Software as a Service Market by Deployment
10.1 Public Cloud
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Private Cloud
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Hybrid Cloud
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 North America Software as a Service Market by Solution
11.1 Customer Relationship Management (CRM)
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Enterprise Resource Planning (ERP)
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Human Capital Management
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Content, Collaboration and Communication
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 BI and Analytics
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 North America Software as a Service Market by Enterprise Type
12.1 Large Enterprises
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 SMEs
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 North America Software as a Service Market by End Use
13.1 IT and Telecom
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 BFSI
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Retail and Consumer Goods
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Healthcare
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Education
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Manufacturing
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
13.7 Others
14 North America Software as a Service Market by Country
14.1 United States of America
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Canada
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Microsoft Corp.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Oracle Corp.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 SAP SE
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Cisco Systems, Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Adobe Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 IBM Corp.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Salesforce, Inc.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Amazon Web Services, Inc.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 SAS Institute Inc.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Teradata Corp.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Cloud Software Group, Inc.
16.2.11.1 Company Overview
16.2.11.2 Product Portfolio
16.2.11.3 Demographic Reach and Achievements
16.2.11.4 Certifications
16.2.12 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Software as a Service Market: Key Industry Highlights, 2018 and 2032
2. North America Software as a Service Market: Key Industry Highlights, 2018 and 2032
3. North America Software as a Service Historical Market: Breakup by Deployment (USD Billion), 2018-2023
4. North America Software as a Service Market Forecast: Breakup by Deployment (USD Billion), 2024-2032
5. North America Software as a Service Historical Market: Breakup by Solution (USD Billion), 2018-2023
6. North America Software as a Service Market Forecast: Breakup by Solution (USD Billion), 2024-2032
7. North America Software as a Service Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2023
8. North America Software as a Service Market Forecast: Breakup by Enterprise Size (USD Billion), 2024-2032
9. North America Software as a Service Historical Market: Breakup by End Use (USD Billion), 2018-2023
10. North America Software as a Service Market Forecast: Breakup by End Use (USD Billion), 2024-2032
11. North America Software as a Service Historical Market: Breakup by Country (USD Billion), 2018-2023
12. North America Software as a Service Market Forecast: Breakup by Country (USD Billion), 2024-2032
13. North America Software as a Service Market Structure
In 2023, the market reached an approximate value of USD 145.43 billion.
The market is projected to grow at a CAGR of 11.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 379.01 billion by 2032.
The key trends of the market include the rising popularity of SaaS in remote and hybrid work environments, growing adoption of vertical SaaS, the advent of advanced technologies such as AI and machine learning in SaaS, and increased launch of SaaS platforms for public and private cloud infrastructure.
The major players in the market are Microsoft Corp., Oracle Corp., SAP SE, Cisco Systems, Inc., Adobe Inc., IBM Corp., Salesforce, Inc., Amazon Web Services, Inc., SAS Institute Inc., Teradata Corp., and Cloud Software Group, Inc., among others.
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