Software as a Service (SaaS) market is expected to grow at a CAGR of 25%
Key growth factor(s): tighten budgets, the need for enhanced collaboration among distributed workforces, and the increasing number of mobile employees
Software as a Service (SaaS): The capability provided to the consumer is to use the provider’s applications running on a cloud infrastructure and accessible from various client devices through a thin client interface such as a web browser (e.g., web-based email). The consumer does not manage or control the underlying cloud infrastructure, network, servers, operating systems, storage, or even individual application capabilities, with the possible exception of limited user-specific application configuration settings.
SaaS applications include: Business software, such as accounting and finance, customer relationship management, business intelligence, human resources and employee performance management, office productivity and collaboration tools (content management, security management, and systems management). Everything you would find in the traditional on-premise software space, you’ll now find delivered on demand as a service.
The benefits of SaaS include: Customers no longer need to worry about the cost of new software licenses, nor the associated maintenance fees; administration becomes much easier; and issues like patches, upgrades and compatibility become non-existent.