Is SaaS Still Growing?
Software as a Service, or SaaS, is a software distribution model in which software is licensed on a subscription basis and is centrally hosted. It’s been around for a few decades, but in recent years, it’s seen a huge surge in popularity. So, is SaaS still growing?
The short answer is yes. SaaS is still growing rapidly, and it shows no signs of slowing down. In fact, according to research from Gartner, the global SaaS market is expected to reach $113 billion by 2022. That’s a compound annual growth rate of 16.7%, which is higher than the global software market as a whole.
So why is SaaS still growing? One reason is that it offers significant cost savings compared to traditional software models. With SaaS, users can access a wide range of features and functionality without having to manage the software themselves. This eliminates the need to purchase expensive hardware and software licenses, as well as the associated maintenance costs. This makes SaaS an attractive option for businesses of all sizes.
Another reason for SaaS’s continued growth is its scalability. With SaaS, businesses can easily scale their usage up or down depending on their needs, without having to invest in additional hardware or software. This makes it easy for businesses to quickly adjust their IT resources to meet changing needs.
Finally, SaaS is attractive because of its flexibility. With SaaS, users can access the software from any device, at any time. This makes it easy for businesses to quickly adjust their IT resources to meet changing needs. Additionally, SaaS provides users with the ability to customize their applications to meet their specific needs.
In short, SaaS is still growing rapidly. It offers significant cost savings, scalability, and flexibility that make it attractive to businesses of all sizes. So if you’re looking for a way to reduce costs and increase efficiency, SaaS may be the perfect solution.
Conclusion
SaaS is still growing rapidly, and its growth shows no signs of slowing down. This is due to its cost savings, scalability, and flexibility, which make it attractive to businesses of all sizes. So if you’re looking for a way to reduce costs and increase efficiency, SaaS may be the perfect solution.