Post by account_disabled on Mar 10, 2024 5:23:24 GMT
With COVID having the majority of the working population working remotely, Software as a Service, or SaaS, has become a popular tool for businesses . This allows businesses to use the software without having to download it and take up space. General statistics and facts about SaaS The SaaS market is expected to reach $623 billion in 2021, with an annual growth rate of 18%. SaaS usage in healthcare has been growing 20% per year. According to 70% of CIOs, the benefits of SaaS are scalability and agility. Small businesses have also gotten into SaaS: almost 78% of them have invested in SaaS options. Microsoft is a leading SaaS provider with annual growth of 45%. Oracle is in second place with 43% growth, SAP 36%, Adobe 32% and Salesforce 25%. Websites are the most used application in the public cloud, followed by email.
In 2018, approximately 20% of research and development in the United France Phone Number Data States was spent by SaaS providers, worth approximately $63.1 billion. In 2020, SaaS surpassed the expected growth of $500 billion and reached $1 trillion! The SaaS market is expected to reach a value of $832.1 billion by 2025. About 37% of all businesses have adopted SaaS to gain greater flexibility. SaaS is starting to take over, with 38% of companies reporting they are fully using SaaS. The global data visualization tools market is expected to reach $11.6 billion by 2028, at a CAGR of 11.1%. It is expected that by 2025, 80% of companies will completely transition to SaaS. Adobe and Salesforce are the largest SaaS companies on the US stock market, with market capitalizations of $294.7 billion and $251.8 billion, respectively. For the 5 largest SaaS companies between 2008 and 2020 there was a 44x increase in value. SaaS service abandonment statistics A lower churn rate is likely to be experienced by SaaS companies with a contract of 2 or more years.
An attrition rate between 5% and 7% is an acceptable rate. 5% of revenue is lost to churn for mid-sized SaaS companies. A 100% retention rate is common for the best SaaS companies. Companies that focus on SMB (Server Message Block) have the highest annual churn rate of approximately 58%. Companies that serve large enterprises experience an annual churn rate of 5-7%. In a PwC study, 54% of US consumers said the experience at most SaaS companies needs to be improved. SaaS and business statistics SaaS and Business Statistics As of June 2020, there were 15,529 SaaS companies worldwide. Today there are more than 8,500 software companies, mainly because starting and building a company is now 10 times faster. Yoga fitness business is one of the growing businesses and 87% of people run fitness clubs around the world, that's why gym software is growing rapidly in 2022. Of SaaS companies worldwide, approximately 44% offer a free trial, 41% offer a 30-day trial, and 18% offer a 14-day trial.
In 2018, approximately 20% of research and development in the United France Phone Number Data States was spent by SaaS providers, worth approximately $63.1 billion. In 2020, SaaS surpassed the expected growth of $500 billion and reached $1 trillion! The SaaS market is expected to reach a value of $832.1 billion by 2025. About 37% of all businesses have adopted SaaS to gain greater flexibility. SaaS is starting to take over, with 38% of companies reporting they are fully using SaaS. The global data visualization tools market is expected to reach $11.6 billion by 2028, at a CAGR of 11.1%. It is expected that by 2025, 80% of companies will completely transition to SaaS. Adobe and Salesforce are the largest SaaS companies on the US stock market, with market capitalizations of $294.7 billion and $251.8 billion, respectively. For the 5 largest SaaS companies between 2008 and 2020 there was a 44x increase in value. SaaS service abandonment statistics A lower churn rate is likely to be experienced by SaaS companies with a contract of 2 or more years.
An attrition rate between 5% and 7% is an acceptable rate. 5% of revenue is lost to churn for mid-sized SaaS companies. A 100% retention rate is common for the best SaaS companies. Companies that focus on SMB (Server Message Block) have the highest annual churn rate of approximately 58%. Companies that serve large enterprises experience an annual churn rate of 5-7%. In a PwC study, 54% of US consumers said the experience at most SaaS companies needs to be improved. SaaS and business statistics SaaS and Business Statistics As of June 2020, there were 15,529 SaaS companies worldwide. Today there are more than 8,500 software companies, mainly because starting and building a company is now 10 times faster. Yoga fitness business is one of the growing businesses and 87% of people run fitness clubs around the world, that's why gym software is growing rapidly in 2022. Of SaaS companies worldwide, approximately 44% offer a free trial, 41% offer a 30-day trial, and 18% offer a 14-day trial.