Software-as-a-Service (SaaS) Market to Reach $23.15 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Software-as-a-Service (SaaS) market. Software-as-a-Service (SaaS) in the global enterprise application software (EAS) market is projected to reach about $23.15 billion by the year 2015. Growth in the market is especially driven by the need for cost effective software delivery model, proliferation of the Internet, growth in demand for subscription-based contracts, software upgrades and replacement needs for existing applications among others.

Software-as-a-Service (SaaS): A Global Strategic Business Report

With IT departments across all industries focusing their attention on IT cost savings in terms of capital and staffing, functionality additions at lesser costs, simplified upgrades, and savings in the form of immediate and long-term gains, customers are seen fast migrating from the conventional practice of purchasing expensive licenses for integrated enterprise application solutions to those that can be rented or hired at relatively lower costs monthly subscription fees. And SaaS in this regard is optimally positioned to offer just that, and its therefore of little surprise that Enterprise Application Software (EAS) offered as "Software as a Service" (SaaS) is witnessing strong growth worldwide. Subscription pricing models like SaaS, are expected to grow rapidly in the upcoming years, largely at the expense of license models. The need for major software upgrades, replacement of existing applications, and providing supporting functionality to existing applications, among other notable trends in the software industry is creating a substantial market for On-Demand software. Most companies, including those that invested heavily in up-front license fees, find the on-demand model cost effective, despite the sunk costs involved.

The ongoing economic slowdown has given the Software-as-a-Service market a reason to rejoice, as companies are increasingly turning to SaaS-based software delivery model to cut-down costs related to acquiring, installing, and upgrading dedicated in-house software applications. Having witnessed an encouraging growth trend in 2009, demand outlook for SaaS in the coming years also remains equally encouraging. With large international providers already making headway into this market, smaller players need to focus their attention on enhancing their capabilities. In view of low churn and high retention rates, smaller providers need to chant the innovation mantra and be versatile in providing a wide range of services. Trust factor and reliability continue to remain the key features for the success of the industry. Though the market, given the cost pressures, is more open towards SaaS model now than ever before, few areas still remain worrisome and therefore need to be addressed immediately. Awareness on the end-use benefits of SaaS is one such area of improvement and therefore it is highly important that the industry imparts proper education on advantages of using SaaS model to prospective customers.

As stated by the new market research report on Software As A Service (SaaS) in the EAS market in the US and Europe collectively account for a major share of the global market. Office Suite is the most rapidly growing EAS application market for SaaS over the analysis period 2006-2015.

Key players in this marketplace include Ali Software (Shanghai) Co, Ltd., Citrix Online, Inc., Concur Technologies, Inc, Hewlett Packard Development Company, IntraLinks, Inc., Intuit, Inc., Kenexa Corporation, Microsoft Corporation, NetSuite, Inc., Omniture, Inc., Salesforce.com, Inc., and WebEx Communications, Inc.

The report titled "Software-as-a-Service (SaaS): A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a review of noteworthy market trends, growth drivers and issues. The report in addition also enumerates recent acquisitions, and other strategic industry activities. The report offers latent demand estimates and projections for SaaS in the EAS market by geographic verticals, such as, US, Japan, Europe, Asia Pacific and Rest of World, in addition to application segments, such as, Content, Communication and Collaboration (CCC), Customer Relationship Management (CRM), Enterprise Resource Planning (ERP) & Supply Chain Management (SCM), Office Suites, and Digital Content Creation (DCC), among others.

For more details about this market research report, please visit - http://www.strategyr.com/Software_As_A_Service_SaaS_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Web Site http://www.StrategyR.com/

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