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Software As a Service (SaaS) Market size is set to grow by USD 423.2 billion from 2024-2028, Augmenting use of mobile apps to boost the market growth, Technavio

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NEW YORK, June 27, 2024 /PRNewswire/ — The global software as a service (SaaS) market  size is estimated to grow by USD 423.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  21.21%  during the forecast period.  augmenting use of mobile apps is driving market growth, with a trend towards increasing use of vertical SaaS. However, issues associated with system integration  poses a challenge. Key market players include Accenture Plc, Adobe Inc., Alphabet Inc., Amazon.com Inc., BetterCloud Inc., Box Inc., Cisco Systems Inc., Convedo Ltd., Fujitsu Ltd., Hewlett Packard Enterprise Co., Infosys Ltd., International Business Machines Corp., Intuit Inc., Microsoft Corp., Oracle Corp., Salesforce Inc., SAP SE, ServiceNow Inc., Shopify Inc., and Zendesk Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Deployment (Public cloud, Private cloud, and Hybrid cloud), End-user (Large enterprises and SMEs), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Accenture Plc, Adobe Inc., Alphabet Inc., Amazon.com Inc., BetterCloud Inc., Box Inc., Cisco Systems Inc., Convedo Ltd., Fujitsu Ltd., Hewlett Packard Enterprise Co., Infosys Ltd., International Business Machines Corp., Intuit Inc., Microsoft Corp., Oracle Corp., Salesforce Inc., SAP SE, ServiceNow Inc., Shopify Inc., and Zendesk Inc.

Key Market Trends Fueling Growth

Vertical Software as a Service (SaaS) refers to cloud computing solutions designed for specific industries, such as retail, healthcare, or automotive manufacturing. These solutions offer customizable features tailored to clients within these industries and supply chains. Examples include retail analytics software and healthcare business intelligence tools. Enterprises benefit from vertical SaaS due to its industry-specific focus, enabling the generation of valuable customer data and insights. In May 2021, Honeywell International Inc. Launched a cloud-based SaaS solution for building owners and managers, combining operational and business data for improved decision-making and efficiency. Vendors are increasingly offering vertical SaaS to address client demands and expand their customer base. IBM’s Genelco SaaS, designed for the insurance industry, is an example of this trend. The use of vertical SaaS solutions provides significant business value, contributing to the growth of the global SaaS market. 

The Software as a Service (SaaS) market is experiencing significant growth across various application areas like Human Resource Management, Media and Entertainment, and more. Leads and prospects for SaaS are abundant among startups and businesses seeking flexible solutions. Trends include integration with 3D printing technologies and mobile devices. Investment in SaaS is ongoing, with companies like Alphabet’s Google Cloud Marketplace and Microsoft Cloud leading the charge. Business models include Cloud Software, Cloud Consulting Services, and IBM Cloud Integration. Digital transformation brings challenges such as data breaches and cyber-attacks, necessitating focus on data security concerns. Employee well-being and operational efficiency are key considerations. The competitive environment is intense, with Communication Service Providers and IT companies implementing remote work policies. Cloud computing technologies continue to evolve, with hybrid cloud and public cloud offerings from the Cloud Security Alliance. Augmenting company capabilities is a primary goal. However, ongoing costs, including hosting data, electricity, employee fees, and downtime issues, must be managed carefully. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

Enterprises are increasingly turning to Software as a Service (SaaS) solutions due to their cost-effectiveness and flexibility compared to traditional IT deployments. However, integrating new software systems and IT infrastructure into existing monolithic architectures poses challenges. Monolithic applications, which combine UI and data access code into a single program, make it difficult to integrate new software. Furthermore, data stored in various formats across different business units can create interoperability issues when migrating to cloud-based software. Lastly, selecting the appropriate integration tool from numerous vendors offering SaaS solutions for various applications, while ensuring hybrid integration capabilities, is a complex task. These integration challenges may hinder the growth of the global SaaS market during the forecast period.The Software as a Service (SaaS) market is experiencing significant growth, with key industries like private cloud, human capital management, operations management, large enterprises in IT and telecom, healthcare, education, B2B and B2C enterprises adopting this model. Challenges include VAT regulations, quarterly earnings reports, and expert opinions on relevant segments. Main drivers are digitization levels, current exchange rates, and country-specific needs. SaaS leaders like AppOmni and Veeva Systems offer Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) solutions using Artificial Intelligence (AI), Internet of Things (IoT), and Platform as a Service (PaaS). SMEs and small businesses benefit from mobile SaaS growth, allowing access to information, devices, and team partnerships via laptops, tablets, and web browsers on a subscription basis for official purposes. Time and space efficiency are major attributing factors. Deployment is typically cloud-based, ensuring flexibility and ease.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This software as a service (saas) market report extensively covers market segmentation by

Deployment 1.1 Public cloud1.2 Private cloud1.3 Hybrid cloudEnd-user 2.1 Large enterprises2.2 SMEsGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Public cloud-  The Software as a Service (SaaS) market continues to grow, with businesses increasingly relying on cloud-based solutions for their software needs. SaaS offers several advantages, including cost savings, flexibility, and ease of use. Companies can access software applications through the internet, eliminating the need for expensive hardware and maintenance. SaaS providers offer regular updates and improvements, ensuring that businesses have access to the latest features. This model allows businesses to focus on their core competencies while leaving the software management to the experts. Overall, the SaaS market is a cost-effective and efficient solution for businesses of all sizes

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The Software as a Service (SaaS) market continues to grow at an unprecedented rate, driven by the increasing level of digitization and the shift towards remote work policies. Communication service providers and B2C enterprises are major contributors to this market, with SaaS products becoming essential for time, space, and information management. Cloud Software, including Google Cloud Marketplace and Microsoft Cloud, dominates the scene, offering a wide range of solutions for businesses of all sizes. IT companies are also leveraging SaaS to provide cloud consulting services and integrate various systems using IBM Cloud Integration. The main drivers of this market include ease of use, cost savings, and flexibility. Current exchange rates and quarterly earnings of key players are closely watched by experts in the relevant segment. SaaS enables team partnerships through laptops, tablets, and other devices, making collaboration more efficient than ever before. VAT and other regulatory considerations are important factors for businesses adopting SaaS solutions.

Market Research Overview

The Software as a Service (SaaS) market is a significant segment of the cloud computing industry, enabling businesses to access and use software applications over the internet on a subscription basis. SaaS offers flexibility, scalability, and cost savings for businesses of all sizes, from SMEs to large enterprises in various industries such as IT and telecom, healthcare, education, B2B, and B2C. Key drivers for SaaS market growth include the level of digitization, remote work policies, and the increasing adoption of cloud computing technologies. Communication Service Providers and IT companies offer SaaS products in areas like Human Capital Management, Operations Management, and Customer Relationship Management. SaaS covers various application areas like Enterprise Resource Planning, Artificial Intelligence, Internet of Things, Robotic Process Automation, and more. The market is shaped by ongoing costs, including hosting data, electricity, and employee fees, as well as downtime issues and the competitive environment. Main drivers for SaaS growth include flexibility, investment, and the shift towards mobile SaaS and cloud-based software services. Relevant segments include public cloud, private cloud, and hybrid cloud solutions. Current exchange rates and country-specific levels of digitization also impact the market. SaaS market statistics show steady growth, with major attributing factors like time, space, information, devices, team partnerships, and official purposes. Key trends include the integration of PaaS, SME adoption, and the impact of net neutrality and VAT on quarterly earnings. Expert opinions and industry reports provide insights into the current state and future prospects of the SaaS market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentPublic CloudPrivate CloudHybrid CloudEnd-userLarge EnterprisesSMEsGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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CNN rings in 2025 from across the Asia Pacific, culminating with Anderson Cooper and Andy Cohen in New York

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HONG KONG, Dec. 23, 2024 /PRNewswire/ — CNN is gearing up for another unforgettable New Year’s Eve celebration, leading its global audience into 2025 with music, laughter, and live coverage from around the world. At 7:00 AM ET, CNN kicks off its live reporting from various international cities as they ring in the new year in the Asia Pacific, with Kristie Lu Stout anchoring live from Victoria Harbor in Hong Kong starting at 9:00 AM ET/10:00 PM HKT to 12:00 PM ET/1:00 AM HKT. The festivities will culminate with Anderson Cooper and Andy Cohen co-hosting CNN’s New Year’s Eve Live with Anderson Cooper and Andy Cohen from New York City’s Times Square for an eighth consecutive year.

CNN’s line-up of international correspondents will also make appearances during the broadcast, including Lynda Kinkade from Luna Park in Sydney, Hanako Montgomery in glittering Tokyo, Mike Valerio from the iconic Bosingak Belfry in the heart of Seoul and Will Ripley overlooking the Chao Phraya River in Bangkok.

Joining our correspondents will be a star-studded line-up of guests from across the worlds of entertainment, fashion, arts and sports. Kristie Lu Stout has a full slate with Marie Kondo, Japanese “professional tidier”, organization expert and Konmari founder, Japanese contemporary artist Takashi Murakami, Chinese-American fashion designer Vivienne Tam, the Philippines’ double gold medalist, Carlos Yulo, viral Japanese dance troupe Avantgardey, Pakistani actor and filmmaker Usman Mukhtar, Indian-American comic Zarna Garg, and Panda keeper at Hong Kong’s Ocean Park, Matt Leung.

In Australia, Lynda Kinkade chats with music legend Sting, Colin Hay from 80’s band Men at Work, fashion designer Rebecca Vallance, and actress and voice of Chilli from Bluey, Melanie Zanetti.

Thailand will provide the backdrop as Will Ripley talks to international rapper, singer, dancer and style icon, LISA, Chinese-American double gold medalist in freestyle skiing, Eileen Gu, Pakistani actress Hania Aamir and Taiwanese-American drag performer and winner of season 16 of RuPaul’s Drag Race, Nymphia Wind.

From Japan, Hanako Montgomery speaks with K-pop superstar, TAEYANG, Japanese comedian Naomi Watanabe and Japanese two-time Olympic gold medalist skateboarder, Yuto Horigome, while in Korea, Mike Valerio interviews Indonesian all-female rock trio, Voice of Baceport.

CNN’s New Year’s Eve Live with Anderson Cooper and Andy Cohen begins at  8:00 PM ET, with music, comedy and some surprise guests, including Curtis “50 Cent” Jackson, live from his residency at Planet Hollywood Resort & Casino in Las Vegas, Meghan Trainor, Shania Twain, Diplo, Lil Jon, Mickey Guyton who will perform “Imagine” live from Times Square, Patti LaBelle, and comedians Whitney Cummings, Amy Sedaris, Sasheer Zamata, Ziwe, Adam Devine, and more.  

CNN’s New Year’s Eve coverage will stream live on Max for subscribers and on CNN.com, CNN connected TV and mobile apps for pay TV subscribers.

About CNN Worldwide

CNN Worldwide is the most honored brand in cable news, reaching more individuals through television, streaming and online than any other cable news organization in the United States. Globally, people across the world can watch CNN International, which is widely distributed in over 200 countries and territories. CNN Digital is the #1 online news destination, with more unique visitors than any other news source. Max, Warner Bros. Discovery’s streaming platform, features CNN Max, a 24/7 streaming news offering available to subscribers alongside expanded access to News content and CNN Originals. CNN’s award-winning portfolio includes non-scripted programming from CNN Original Series and CNN Films for broadcast, streaming and distribution across multiple platforms. CNN programming can be found on CNN, CNN International and CNN en Español channels, via CNN Max and the CNN Originals hub on discovery+ and via pay TV subscription on CNN.com, CNN apps and cable operator platforms. Additionally, CNN Newsource is the world’s most extensively utilized news service partnering with over 1,000 local and international news organizations around the world. CNN is a division of Warner Bros. Discovery.

About Warner Bros. Discovery

Warner Bros. Discovery is a leading global media and entertainment company that creates and distributes the world’s most differentiated and complete portfolio of branded content across television, film, streaming and gaming. Available in more than 220 countries and territories and 50 languages, Warner Bros. Discovery inspires, informs and entertains audiences worldwide through its iconic brands and products including: Discovery Channel, Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español, Hogar de HGTV and others. For more information, please visit www.wbd.com

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SOURCE CNN International

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Incheon’s Bold Return to CES 2025: Pioneering Tomorrow’s Smart Cities

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SEOUL, South Korea, Dec. 18, 2024 /PRNewswire/ — The Incheon Free Economic Zone Authority (IFEZ) will make a strong comeback at CES 2025, which will be held from January 7 to 10 in Las Vegas. Under the theme “Urban Renaissance: Building Tomorrow’s Smart Cities Today,” IFEZ will showcase its smart city vision and highlight cutting-edge technologies from 41 innovative companies.

The Incheon-IFEZ pavilion in the AI Zone of the North Hall at the Las Vegas Convention Center will spotlight ten leading Incheon-based startups specializing in AI, urban tech, and smart city solutions. Beyond the pavilion, ten companies will join the Eureka Park Korea Pavilion, six will exhibit at the Global Pavilion, and 15 more will participate as part of a broader delegation.

This extensive representation underscores Incheon’s emergence as a tech innovation hub, reflecting its global ambitions and technological prowess.

The Incheon-IFEZ pavilion promises to be more than just an exhibition space. It will transform into a dynamic networking hub where global business leaders, investors, and innovators can explore potential collaborations with Incheon-based companies.

The pavilion’s first major event, the Unveiled Incheon Media Stage, will introduce IFEZ’s forward-thinking smart city vision to international media outlets on January 7. All Connected Incheon Night will bring together global investors, entrepreneurs, and industry leaders to foster meaningful partnerships that evening.

The momentum continues on January 8 with the IFEZ Tech Talk, featuring industry giants like LG Electronics, Lotte Innovate, and the Stanford Center at Incheon Global Campus. They will present insights into IFEZ’s smart city projects and innovation initiatives.

On January 9, the spotlight will shift to the IFEZ Showcase, a pitching competition where Incheon’s top startups will present their groundbreaking technologies to over 30 global venture capital investors. This event aims to secure international partnerships and expand market reach.

IFEZ’s continued participation at CES reflects its commitment to driving global innovation. Established in 2003 as South Korea’s first free economic zone, IFEZ encompasses Songdo, Yeongjong, and Cheongna. Designed to stimulate economic growth, its advanced infrastructure and prime location have made it a thriving business hub over the past two decades.

By participating in CES 2025, IFEZ reaffirms its dedication to fostering innovation and connecting visionary startups with the global market. The official CES 2025 Incheon-IFEZ website, www.ces2025-ifez.com, provides more details.

Media and Interview Contact

Don Southerton, CES 2025 Incheon-IFEZ
Dsoutherton@bridgingculture.com
+1 310-866-3777

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SOURCE The Incheon Free Economic Zone Authority

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ANTA Unveils ANTAZERO UPCYCLE Collection

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Shanghai’s Iconic Wukang Road Hosts the Industry’s First Sustainable Sports Fashion Extravaganza

SHANGHAI, Dec. 22, 2024 /PRNewswire/ —  ANTA captivated audiences with a groundbreaking sustainable sports showcase on Shanghai’s iconic Wukang Road, debuting the ANTAZERO UPCYCLE collection. Co-conceived with the sustainability platform canU and renowned Chinese creative visionaries, the collection reimagines ANTA’s surplus inventory into elevated, eco-forward designs. Melding artistry with environmental responsibility, the event underscores ANTA’s trailblazing commitment to sustainable innovation.

Set against the backdrop of ANTA’s Zero-Carbon Mission Store at 98 Wukang Road, the unconventional runway blurred boundaries between fashion, sports, and daily life. Models and influencers brought the upcycled collection to life, embodying dynamic looks for diverse scenarios—from skiing and cycling to city walk, ageless style, and pet-friendly ensembles. The spirited procession spilled into the streets, inviting onlookers to witness the harmonious fusion of sustainability, inclusivity, and sports-inspired aesthetics.

The ANTAZERO UPCYCLE collection represents a pioneering collaboration with canU and four Chinese design luminaries, each infusing their unique vision into ANTA’s inventory. The canU platform’s ethos of weaving sports into everyday life is reflected throughout the collection; CHENPENG crafts bold expressions of environmental themes using surplus down materials; SANKUANZ revitalizes inventory pieces with experimental spray-painting, breathing new emotion into existing fabrics; MEGARMENTS celebrates ANTA’s basketball heritage with intricate upcycled craftsmanship; and KAIKAI explores the aspirational ideal of 100% recycled design, pushing the boundaries of sustainability. Through their innovation, dormant inventory was transformed into wearable art, embodying a circular tenor of creativity and resourcefulness.

ANTA CEO Xu Yang has articulated a clear vision: green principles must evolve into green growth engines to achieve lasting commercial sustainability. The newly unveiled ANTAZERO UPCYCLE collection exemplifies this philosophy, repurposing surplus garments and fabrics into mass-producible, market-ready designs. By minimizing energy-intensive processes such as weaving and dyeing, the collection marries environmental responsibility with fresh, contemporary aesthetics. Offering consumers innovative, eco-conscious lifestyle choices, it underscores the seamless integration of sustainability into business strategy. As Cui Dan, ANTA’s sustainability advisor and founder of the canU sustainable platform, aptly noted, “Only when brands and industries translate sustainability into tangible products can consumers truly recognize its value.”

The ANTAZERO UPCYCLE collection is now available at ANTA’s Zero-Carbon Mission Store and via the ANTA WeChat Mini Program, providing consumers with access to a new era of sustainable fashion.

Since inaugurating its Zero-Carbon Mission Store on Earth Day, April 22, ANTA has actively celebrated global sustainability milestones, including World Oceans Day and International Panda Day. Through immersive art installations, curated exhibitions, and interactive events, ANTA has collaborated with media outlets, industry partners, and its consumer base to champion eco-consciousness. The launch of the ANTAZERO UPCYCLE collection and the resounding success of the sustainable sports fashion show serve as a crowning achievement in ANTA’s year-long sustainability efforts, addressing global environmental challenges while spotlighting the ingenuity and responsibility of Chinese sports brands.

As part of its ambitious goal to achieve carbon neutrality by 2050, ANTA continues to pioneer sustainable solutions across product development and retail operations. According to its 2023 ESG report, nearly 20% of ANTA Group’s products are now sustainable, driven by continuous advancements in eco-friendly materials and innovative design. The brand remains dedicated to mainstreaming sustainable consumption, delivering products that seamlessly blend style, functionality, and environmental stewardship.

In 2024, ANTA Group retained its top position in China’s sports industry on the “Green Supply Chain CITI Index”, published by the Institute of Public & Environmental Affairs (IPE), for the second consecutive year. Looking ahead, ANTA reaffirms its commitment to sustainability, leveraging innovation to fuel green growth. By offering sustainable products and services to a global audience and spearheading the eco-transformation of its supply chain, ANTA is forging a path toward a low-carbon future in collaboration with consumers and partners alike.

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SOURCE ANTA Group

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