SAAS (SOFTWARE AS A SERVICE) ENTERPRISE APPLICATIONS MARKET ANALYSIS

Regional Analysis

On the basis of region, the global SaaS (software as a Service) enterprise applications market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

In 2018, the North America market accounted for the largest share in the SaaS (software as a service) enterprise application market, and is expected to retain its dominance over the forecast period. The growth of the North America market is majorly attributed to advanced IT infrastructure and presence of a large number of organizations which are well equipped to incorporate software as a service in the region such as Microsoft, Oracle, and Adobe. Moreover, companies are investing in implementation of enterprise applications to streamline their work process.

Moreover, the Asia Pacific region is expected to exhibit the highest growth over the forecast period. The growth of this region is attributed to the increasing number of small and medium scale enterprises in major economies such as India and China. For instance, according to the Ministry of Micro, Small, and Medium Enterprises, in the year 2006-07, the number of SMEs in India was 36.17 Million, and increased to 63.38 Million, at a growth rate of 6.43% annually