SaaS is one of the most talked-about topics since the early 2000s. The demand for SaaS applications has risen in all business categories, from large enterprises to SMBs. The key drivers for adopting SaaS are its low-cost and ease of deployment and use. There are various applications such as Service Oriented Architecture SOA and other web services which curtail the cost of enterprises because the usage of the software is metered and the enterprises pay accordingly.
The acceptance and uptake of SaaS applications have increased in almost all geographical regions. Currently, the US is the largest SaaS market in the world, followed by Europe, and Asia-Pacific. Apart from the regular SaaS applications such as CRM, HR, and web conferencing, there are certain other newer segments where the SaaS model is gradually gaining acceptance. For example, analysts opine that in Europe, the uptake of SaaS in the insurance market will increase in the coming years. The early adopters will obviously be the small rather than large insurers; however, banks are also likely to adopt SaaS. The European insurance market as a whole will adopt SaaS as a trusted model in coming years. Another segment that is also at a nascent stage is security technologies delivered via SaaS. However, the adopters of this segment are being given several offerings in order to make use of this upcoming technology for their IT systems defense infrastructure.