The North America Software as a Service Market is expected to witness market growth of 14.4% CAGR during the forecast period (2024-2031).
The US market dominated the North America Software as a Service Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $213.46 billion by 2031. The Canada market is experiencing a CAGR of 16.7% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 15.9% during 2024-2031.
Software as a service (SaaS) is one of the fastest-growing segments of the global software industry, revolutionizing how businesses access, use, and manage software. SaaS has shifted traditional software deployment from a model where applications were installed on individual machines and maintained by internal IT departments to a subscription-based, cloud-driven platform where users can access applications over the internet. With its numerous benefits, such as reduced costs, scalability, flexibility, and maintenance, SaaS has seen rapid adoption across various sectors, making it a cornerstone of digital transformation initiatives.
SaaS applications cover many business functions, making them indispensable for companies looking to streamline operations, enhance collaboration, and improve customer engagement. CRM software is one of the most common and significant SaaS applications. Leading platforms like Salesforce, HubSpot, and Zoho have revolutionized how companies manage and engage with customers. These platforms enable businesses to track real-time sales leads, customer interactions, and service requests, fostering better communication and driving sales growth.
In Canada, the government’s investment of $198.6 billion over ten years to improve healthcare services is expected to drive significant demand for SaaS solutions within the healthcare sector. As the country works toward enhancing healthcare accessibility, infrastructure, and quality, SaaS-based platforms will need to support electronic health records (EHR), telemedicine, patient management systems, and data analytics. These solutions can help optimize healthcare delivery, streamline administrative tasks, and improve patient outcomes through data-driven insights. SaaS applications can also facilitate collaboration across healthcare providers, ensuring the effective delivery of services in line with the government’s ambitious healthcare goals. Therefore, together, the growth of retail and healthcare sectors in both Mexico and Canada is likely to accelerate the adoption of SaaS platforms
The US market dominated the North America Software as a Service Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $213.46 billion by 2031. The Canada market is experiencing a CAGR of 16.7% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 15.9% during 2024-2031.
Software as a service (SaaS) is one of the fastest-growing segments of the global software industry, revolutionizing how businesses access, use, and manage software. SaaS has shifted traditional software deployment from a model where applications were installed on individual machines and maintained by internal IT departments to a subscription-based, cloud-driven platform where users can access applications over the internet. With its numerous benefits, such as reduced costs, scalability, flexibility, and maintenance, SaaS has seen rapid adoption across various sectors, making it a cornerstone of digital transformation initiatives.
SaaS applications cover many business functions, making them indispensable for companies looking to streamline operations, enhance collaboration, and improve customer engagement. CRM software is one of the most common and significant SaaS applications. Leading platforms like Salesforce, HubSpot, and Zoho have revolutionized how companies manage and engage with customers. These platforms enable businesses to track real-time sales leads, customer interactions, and service requests, fostering better communication and driving sales growth.
In Canada, the government’s investment of $198.6 billion over ten years to improve healthcare services is expected to drive significant demand for SaaS solutions within the healthcare sector. As the country works toward enhancing healthcare accessibility, infrastructure, and quality, SaaS-based platforms will need to support electronic health records (EHR), telemedicine, patient management systems, and data analytics. These solutions can help optimize healthcare delivery, streamline administrative tasks, and improve patient outcomes through data-driven insights. SaaS applications can also facilitate collaboration across healthcare providers, ensuring the effective delivery of services in line with the government’s ambitious healthcare goals. Therefore, together, the growth of retail and healthcare sectors in both Mexico and Canada is likely to accelerate the adoption of SaaS platforms
List of Key Companies Profiled
- Hewlett Packard Enterprise Company
- Microsoft Corporation
- Oracle Corporation
- IBM Corporation
- SAP SE
- Google LLC
- Epicor Software Corporation
- ServiceNow, Inc.
- Salesforce, Inc.
- VMware, Inc. (Broadcom Inc.)
Market Report Segmentation
By Component- Software
- Services
- Private Cloud
- Public Cloud
- Hybrid Cloud
- Customer Relationship Management (CRM)
- Enterprise Resource planning (ERP)
- Content, Collaboration & Communication
- Human Capital Management
- BI & Analytics
- Other Application
- Large Enterprises
- Small & Medium Enterprises
- Banking, Financial Services and Insurance (BFSI)
- Retail & Consumer goods
- Healthcare
- Manufacturing
- Education
- Travel & Hospitality
- Other Industry
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Software as a Service Market by Component
Chapter 6. North America Software as a Service Market by Deployment
Chapter 7. North America Software as a Service Market by Application
Chapter 8. North America Software as a Service Market by Enterprise Size
Chapter 9. North America Software as a Service Market by Industry
Chapter 10. North America Software as a Service Market by Country
Chapter 11. Company Profiles
Companies Mentioned
- Hewlett Packard Enterprise Company
- Microsoft Corporation
- Oracle Corporation
- IBM Corporation
- SAP SE
- Google LLC
- Epicor Software Corporation
- ServiceNow, Inc.
- Salesforce, Inc.
- VMware, Inc. (Broadcom Inc.)
Methodology
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