The United States currently accounts for 60 percent of the global Software as a Service (SaaS) market revenues, according to the SaaS Report Summer 2013 by Siemers & Associates. With a growth of 24,4 percent in 2012 compared to 2011, the United States also shows the highest growth rate for the SaaS model adoption.
The highest overall growth in SaaS revenues in the United States is due to the strength of its Internet infrastructure and a positive outlook for US tech market growth. With a growth rate of 23,4 percent, Asia actually sees increased growth due to a need for advanced software solutions. European markets remain stagnant due to the recent economic downturn.
SaaS Software Solutions US, Europe, Asia
The global SaaS market is expected to grow 16,8 percent from $14,4 billion in 2012 to $16,7 billion in 2013, with projections of $21,3 billion for 2015. The European SaaS market is expected to slow, whereas the US is expected to be the primary growth market. Prevalent SaaS software categories in the US are expense management, financials, email, office suites and web conferencing. There is increasing demand in the US for collaboration software.
In Europe, purchasing software, CRM and collaboration software are among the key drivers of SaaS demand development. Finance & administration, HR, project portfolio, and business intelligence are SaaS categories that are expected to generate increasing demand in Europe in the coming period. Japan is the largest SaaS market in the Asia region, with CRM, email and Groupware being the main categories. Financials and accounting are very popular SaaS solutions in China and India, whereas ERP, office suites, CRM and email are prevalent software categories in the Asian market overall.