Software as a Service Market (SaaS)

Software as a Service is a software delivery method that provides access to software and its functions remotely as a Web based service to the users via Web browsers. Software as a Service allows organizations to access business functionality at a cost typically less than paying for licensed applications since SaaS pricing is based on a monthly fee.

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Because the software is hosted remotely, users don't need to invest in additional hardware. Software as a Service removes the need for organizations to handle the installation, set-up and often daily upkeep and maintenance.

It is sometime also refers to as on demand software. SaaS has become a common delivery model for many business applications, including Office & Messaging software, DBMS software, Management software, CAD software, Development software, Gamification,Virtualization,accounting, collaboration, customer relationship management, management information systems, enterprise resource planning, invoicing, human resource management, content management and service desk management.

The APAC Software as a Service (SaaS) market is forecasted 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 and New Zealand is the largest regional SaaS market in Asia Pacific. Software As A Service is gaining attraction in Australia and New Zealand 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 predicted to register a higher growth rate compared to the entire APAC nations in the coming years. The other nations like Singapore and Hong Kong shall follow the trend as the number of applications offered in SaaS mode will increase.

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 predicted to grow from $390 million in 2008 to $4321 million in 2015, at an estimated CAGR of 41.0% from 2008 to 2015.