Connect with us

Technology

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

Published

on

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/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-302184126.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Mega Matrix Announced that “See You Again CEO’s Sweet Trap” Premieres on FlexTV December 20th – Can Love Survive the Test of Time?

Published

on

By

SINGAPORE, Dec. 23, 2024 /PRNewswire/ — Mega Matrix Inc. (“MPU” or the “Company”) (NYSE American: MPU), today announced that it released the new short drama See You Again CEO’s Sweet Trap on December 20th, immersing audiences in a gripping story of fate, choices, and the intertwined threads of past and present.

An unexpected car accident thrusts Leon, an ordinary young man, back into the prestigious family he originally belonged to, leaving Eve behind as the abandoned one. Five years later, Eve, through her hard work and talent, has transformed into an accomplished game developer. Just as she reaches the pinnacle of her career, devastating news arrives: her project has been canceled, and her department faces dissolution.

Fueled by anger and determination, Eve storms into the CEO’s office, resolved to fight for her team and her project. But the moment she opens that fateful door, she comes face-to-face not only with the Leon of her past but also with the cold, commanding CEO of a business empire. Their unexpected reunion unravels long-buried memories, drawing Eve into a whirlwind of love, power, and betrayal.

FlexTV, operated by MPU, is a global leader in short drama streaming, offering content in over 100 countries across multiple languages, including English, Japanese, Korean, Portuguese, Spanish, French, and Arabic. Renowned for its high-quality productions and outstanding user experience, FlexTV continues to captivate audiences worldwide. Premiering on December 20th, See You Again CEO’s Sweet Trap explores how its protagonists confront past emotions while grappling with present realities, inspiring reflection on reconciliation and moving forward. For more exciting content, please visit https://www.flextv.cc/.

#WorkplaceDrama #Romance #Heartbreaking #ShortDrama #FlexTV #MPU

About Mega Matrix Inc.: Mega Matrix Inc. (NYSE American: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through its subsidiary, Yuder Pte, Ltd.. Mega Matrix Inc. is a Cayman Island corporation headquartered in Singapore. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to execute the strategic cooperation with TopReels, ability to obtain additional financing in the future to fund capital expenditures; ability to establish the investment fund with 9 Yards Communications under the memorandum of understanding; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company’s profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company’s future results of operations are subject to additional risks and uncertainties set forth under the “Risk Factors” in documents filed by the Company’s predecessor, Mega Matrix Corp., with the Securities and Exchange Commission, including the Company’s latest annual report on Form 10-K, as amended, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company’s inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company’s assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Disclosure Channels

We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:

The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/mega-matrix-announced-that-see-you-again-ceos-sweet-trap-premieres-on-flextv-december-20th–can-love-survive-the-test-of-time-302338174.html

SOURCE Mega Matrix Inc.

Continue Reading

Technology

Odine Accelerates R&D and Innovation, Achieving Remarkable Growth in the Sector

Published

on

By

ISTANBUL, Dec. 23, 2024 /PRNewswire/ — Odine, a global technology partner, continues to achieve remarkable milestones in innovation and growth. This year, the company has stood out with its innovative R&D initiatives. In December, Odine achieved the distinction of being the first and only Turkish company to appear for two consecutive years on the prestigious 20 Top Telco Vendors Power List by UK-based Capacity Media, one of the leading publication in the telecommunications sector. Additionally, Odine was recognized as one of Türkiye’s fastest-growing technology companies under the Deloitte Technology Fast 50 program. 

AI-Driven Focus on 5G and 6G Infrastructures

Highlighting the significant strides made in R&D and innovation throughout 2024, Odine’s Chairman of the Board and CEO, Alper Tunga Burak, stated:

“This year, through strategic appointments and international partnerships, we are fortifying our growth strategy with substantial R&D investments, continuing to shape the future of the industry. To realize our vision, we have set clear strategies and concrete objectives, particularly in advancing 5G and 6G technologies. Our goals include developing fully autonomous (zero-touch) network infrastructure solutions powered by artificial intelligence and expanding our expertise in telecommunications into new domains, aiming to become a global leader in technology landscape.”

Alper Tunga Burak also emphasized the company’s focus on creating AI-supported orchestration solutions designed for private 5G and 6G communication infrastructures. “Our efforts are aligned with contributing to the development of secure and national communication infrastructures for Türkiye, while also delivering these innovative solutions to international markets to enhance the Turkish economy,” he added.

Visionary Investments to Strengthen Financial Performance

Odine’s ongoing commitment to R&D, strategic partnerships, and global expansion is poised to bolster the company’s financial outcomes while positioning it as a key player in driving digital transformation in the industry.

About Odine

Odine is a global partner empowering sustainable network transformation, building resilient and software-defined networks of the future. We are a leading technology company that enables global companies to evolve with a sustainable approach. With market-leading technology, holistic solutions, and collaborative partnerships, we will support you in reinventing your value creation formula fully dedicated to your success. Our resources are available for organizations to tap into whenever they need them. We work collaboratively to equip you with the power to evolve your business models, build new propositions, differentiate yourselves, and accelerate into new territories.

Odine is publicly listed on the Borsa Istanbul (BIST: ODINE), demonstrating our commitment to transparency, accountability, and delivering long-term value to our shareholders.

www.odine.com

Contact:
Harika Nihan Gündem,
Head of Marketing,
harika.gundem@odine.com 

Photo: https://mma.prnewswire.com/media/2586788/Odine_Deloitte_Technology_Fast_50.jpg

 

View original content:https://www.prnewswire.co.uk/news-releases/odine-accelerates-rd-and-innovation-achieving-remarkable-growth-in-the-sector-302338262.html

Continue Reading

Technology

Jianpu Technology Inc. Extends Its Share Repurchase Program

Published

on

By

BEIJING, Dec. 23, 2024 /PRNewswire/ — Jianpu Technology Inc. (“Jianpu,” or the “Company”) (OTCQB: AIJTY), a leading open financial technology platform in China, today announced that its board of directors (the “Board”) has approved an extension of its existing share repurchase program, which was originally set to expire in January 2025, for an additional 12 months, demonstrating the Company’s continued commitment to enhance shareholder value.

On January 31, 2024, the Board approved the existing share repurchase program, under which the Company is authorized to repurchase up to US$3 million of its American depositary shares (“ADSs”) or Class A ordinary shares over a period of 12 months. Under the extended share repurchase program, the Company may repurchase up to US$3 million of its ADSs or Class A ordinary shares during the 24 months from January 31, 2024.

The Company plans to continue funding the repurchases under the extended share repurchase program with its existing cash balance.

About Jianpu Technology Inc.

Jianpu Technology Inc. operates a leading open financial technology platform, under Rong360 brand, connecting users with an extensive spectrum of financial products and other products and services. By leveraging cutting-edge digital technology, the Company offers intelligent and comprehensive search and recommendation results in a seamless, efficient, and secure manner to meet the needs of its diverse audience. The Company also enables financial and non-financial partners to enhance their efficiency and competitiveness by offering digital intelligence as a service, including data- and analytical-based risk management, intelligent marketing, and other integrated solutions and services. As the Company expands into FinTech+ ecosystem and broadens its global footprint, it will continue to underscore its dedication to innovation and solidify its influence in the space of financial technology and digital transformation. For more information, please visit http://ir.jianpu.ai

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the Company’s expectations regarding demand for, and market acceptance of, its solutions and services; the Company’s expectations regarding keeping and strengthening its relationships with users, financial service providers and other parties it collaborates with; trends, competition and regulatory policies relating to the industries the Company operates in; general economic and business conditions globally and in China; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China: 
Jianpu Technology Inc.
(IR) Liting Lu, E-mail: IR@rong360.com 
(PR) Amanda Hu, E-mail: Media@rong360.com 
Tel: +86 (10) 6242 7068 

View original content:https://www.prnewswire.com/news-releases/jianpu-technology-inc-extends-its-share-repurchase-program-302338220.html

SOURCE Jianpu Technology Inc.

Continue Reading

Trending