(PRWEB) March 08, 2014
According to a new market research report, “Software-as-a-Service (SaaS) in Asia-Pacific (APAC) (2010 – 2015)”, the APAC Software as a Service (SaaS) market is expected to grow from $390 million in 2008 to $4321 million in 2015, at an estimated CAGR of 41.0% from 2008 to 2015.
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With the advent of internet, organizations now have the option to use application on demand rather than buying the complete license of the application. Initial low cost of implementation and flexibility of usage, coupled with a growing mindset among enterprises and business users to try web-based applications are among the key factors that have contributed to a dynamic regional SaaS market.
The APAC Software as a Service (SaaS) market is expected to grow from $390 million in 2008 to $4321 million in 2015, at an estimated CAGR of 41.0% from 2008 to 2015. The appeal and reach of software as a service (SaaS) continue to grow rapidly among enterprises in Asia Pacific. Australia & New Zealand (ANZ) is the largest regional SaaS market in Asia Pacific. SAAS is gaining momentum in ANZ because of the market’s resemblance to the North American market with better broadband penetration, availability of applications getting delivered in SaaS mode and overall greater adoption of IT in general. Developing economies like India and China are expected to register a higher growth rate compared to the entire APAC in the coming years. The other nations like Hong Kong and Singapore shall follow the trend as the number of applications offered in SaaS mode will increase.
Currently, Customer Relationship Management (CRM), ERP and collaboration are widely used applications in SaaS mode with high uptake across verticals. As the market matures, end-users are gradually showing increasing interest towards applications like HRM, e-learning and e-procurement platforms.
Among the various verticals in the industry, SaaS awareness is high in the telecom sector, which results in comparatively higher adoption. This trend is expected to continue in the coming years. If we look from the perspective of the size of the organizations, small and medium size enterprises are showing more interest towards adopting this technology as the initial cost of implementation is low. Ease of usage with low capital investments is the major reason why SaaS applications are increasingly finding favors with SMBs.
The report also analyzes the recent developments and strategies of the vendors in the SaaS market of APAC region. In addition to market sizes and forecasts, the report provides a detailed analysis of the market trends and factors influencing market growth by offering in-depth analyses of the SaaS applications market APAC. The report highlights the burning issues in the region and draws the competitive landscape of the SaaS applications market, providing an in-depth comparative analysis of the key players.
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