Booming SaaS market poised for growth spurt

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itproportal.comA new study by software selection site Better Buys shows that the shift to SaaS solutions is growing apace, expected to increase from just $8 billion in 2015 to $55 billion by 2026.

It also reveals that more than 1,400 new SaaS companies have sprung up in the last five years, taking a large volume of market share from major competitors like Adobe, Cisco, IBM, and Salesforce, and accounting for 57 per cent of the SaaS market.

While SaaS is growing globally, the US still has more than half the market. Based on recent job listing data from Indeed, top states for growth and job opportunities include Massachusetts, Maryland, Washington, Virginia, and Colorado. This is in contrast to recent tech booms which have been focused on the west coast.

 

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