Since one must first know the destination before planning the route, let’s jump right in and discover:
The software as a service industry seems to be in a constant transformation and growth process. And there is nothing that can provide relevant insights into the state of this industry better than statistics.
With so much information available about the SaaS market in 2023, we've curated and compiled some extremely relevant and up-to-date numbers to give you a snapshot of the current landscape and help you make data-driven decisions.
SaaS Industry Highlights
The SaaS market is, without a doubt, growing at an explosive rate, going from $237.48 billion in 2022 to $273.55 in 2023 and projected to reach a whopping $908.21 billion by 2030. This means the SaaS industry has an 18.7% CAGR, which is pretty impressive in a post-covid space.
With 71% of companies relying on SaaS model applications, buy albania telemarketing data these continue to hold the first position as a real digital transformation driver.
It is estimated that by 2025, almost half of the world’s data will be stored in the cloud.
Two years from now, around 85% of all business products will be SaaS apps.
By 2025, 65.7% of spending on software applications will be directed to cloud services.
What factors shape SaaS trends?
We can all agree that SaaS trends don’t appear out of thin air and are a real and legitimate thing. They are the direct result of factors that transform the way in which individuals and organizations perceive this industry sector.
Ever-changing Regulatory and Economic Conditions
The path that led to the success the SaaS industry is now experiencing is due to nothing other than global trade. However, even though SaaS products can easily reach global customers, they must also endure a large amount of compliance regulations and are subject to real economic turmoil.
Navigating the compliance landscape presents a significant challenge for SaaS providers, especially now with the emergence of AI rules and regulations. Security and data handling audits have become legal requirements for SaaS businesses, complicating the global sale of software-as-a-service products more than ever.
