This new episode in our ongoing series on the Digital Solutions Economy (DSE) provides an overview of how DSE is impacting the Software as a Service (SaaS) industry. Previous episodes in this series include:
- DSE in the Telecom Industry
- DSE in the Media and Entertainment industry
- DSE in the Semiconductor Industry
- DSE in the Medical Device industry
- DSE in Utilities industry
- DSE in the Energy Sector
- DSE in Transportation
Software as a Service (SaaS) is a delivery model in which software is provided over the internet, on a subscription basis, rather than as a product installed on companies' own computers. SaaS has its roots in the late 1990s with early adopters such as Salesforce.com, but it wasn't until the mid-2000s that SaaS started to gain widespread adoption. In the following decades, the growth of cloud computing and the increasing availability of high-speed internet made SaaS a more viable option for businesses of all sizes.
Today, SaaS is a multi-billion dollar industry, the fastest growing business model, and is a major driver of innovation in the software industry. Analytics firm Statista estimates that the SaaS market is worth approximately 146 billion in U.S. dollars and estimated to reach 195 billion U.S. dollars by 2023.