DUBLIN--(BUSINESS WIRE)--The "Asia-Pacific Software-as-a-Service (SaaS) Market (2018-2023)" report has been added to ResearchAndMarkets.com's offering.
The SaaS market is anticipated to grow at a compound annual growth rate (CAGR) of 34.28% during the forecast period 2018-2023.
Asian businesses are trying to maintain cost and functionality for their continuously changing business requirements. The need for innovation, agility, flexibility and speed in the business process increases the demand for SaaS-based solutions.
Also, the countries of Asia-Pacific are still developing and are not at par with the developed regions. So, the primary concern is always the cost-efficiency. SaaS vendors offer solutions with lower operational expenses that help drive margins.
Asian organisations are still fighting non-tech issues in their institutions such as corruption, weak government administration and lack of purchasing power. These problems are much lower in the value chain. While solving these problems, incorporating SaaS in their systems seem to be either a distraction or luxury for their businesses.
Segment Analysis & Forecast
Based on the deployment model, the SaaS market can be segmented into public cloud, private cloud and hybrid cloud. The private cloud and public cloud models are showing a positive trend in the market, and the companies are trying to employ the hybrid cloud model in the recent future. The public cloud market has the largest market share, whereas the hybrid cloud market is predicted to grow at the highest CAGR.
Depending on application, the SaaS market can be bifurcated into enterprise resource planning (ERP), customer relationship management (CRM), human resource management (HRM), supply chain management (SCM) and others. Other application types include web conferencing platforms, messaging applications and collaborations. HRM has the largest market share and is also predicted to have the highest growth rate in the forecast period.
By vertical, the SaaS market can be segmented into banking, financial services and insurance (BFSI), information technology (IT) and telecommunication, manufacturing, retail, healthcare, education, and others. The BFSI segment continues to hold the largest market share in the vertical segment. The manufacturing segment will be growing at a significant rate during the forecast period.
Japan is leading in SaaS adoption in the Asia-Pacific region. The country accounts for at least 40% of the region's SaaS expenditure. There are barriers in the Japanese market for the entry of most of the global SaaS companies as there is a tendency for the organizations to opt for home-grown solutions.
Key Players Profiled
- Symantec Corporation
- Google Inc.
- Fujitsu Ltd.
- Amazon.com Inc.
- IBM Corporation
- Oracle Corporation
- SAP SE
- Microsoft Corporation
Chapter 1. Executive Summary
Chapter 2. Asia-Pacific SaaS Market Overview
Chapter 3. China SaaS Market- Market Overview
Chapter 4. India SaaS Market Overview
Chapter 5. Japan SaaS Market Overview
Chapter 6. South Korea SaaS Market Overview
Chapter 7. Australia and New Zealand SaaS Market Overview
Chapter 8. Rest of APAC SaaS Market Overview
Chapter 9. Competitive Landscape
Chapter 10. Conclusion
For more information about this report visit https://www.researchandmarkets.com/research/hljx5b/asiapacific?w=4