In the last few years, cloud-based software as a service (SaaS) has become an increasingly popular option for business services, and new SaaS management platforms are seeing increased demand from businesses. As per Astute Analytica’s study on global SaaS Management Platform market, the cloud segment is holding over 29% market share. The main reasons for this are the increased efficiency and flexibility offered by these platforms, as well as their ability to provide real-time insight into company operations.
One of the leading SaaS applications is Salesforce. This platform is used by businesses of all sizes to manage their sales processes, customer accounts, and inventory. Our study suggests that most of the consumer prefer salesforce because it offers a wide range of features that allow businesses to manage their operations more effectively. Another popular application is Microsoft Azure Active Directory (Azure AD). This platform is used to manage identities and access rights for employees, customers, and partners across multiple organizations. It also provides administrators with centralized control over resources such as email, and calendar.
As per our study, top five players in the global SaaS management platform market are BetterCloud, Productiv, Zylo, Blissfully, and Zluri. These Players are collectively holding over 25% market share. Wherein, BetterCloud, Productiv, and Zylo are leading the market with highest share.
Despite the fact that most businesses in the SaaS management platform market are still forced to rely on legacy systems and processes when it comes to managing their SaaS services, there's been a dramatic increase in demand for SaaS management platforms in recent years. This is because these platforms allow businesses to manage their SaaS services more effectively and efficiently, reducing the amount of time they need to spend on administrative tasks.
Indeed, a study by Astute Analytica has found that over 86% of large businesses in the global SaaS management platform market currently use a SaaS management platform. This figure is likely to continue to grow, as the ability to manage SaaS services effectively is seen as a key advantage for businesses competing in the modern economy.
Astute Analytica Survey Says Lack of Understanding is the Leading Obstacle in SaaS Management Platform Market
A survey by Astute Analytica of 43 SaaS management platforms found that 79% of respondents said their platform is used exclusively for SaaS management and governance, up from 60% in 2016. The remaining 21% of respondents use their platform for other purposes.
The top three reasons for using a SaaS management platform were to improve overall business performance (37%), optimize operations (34%) and simplify compliance (29%). Nearly half of respondents (48 percent) plan to add or increase their use of a SaaS management platform in the next 12 months, with increasing maturity and complexity of SaaS deployments driving this need. A lack of understanding about how their software functions was the No. 1 obstacle to using a management platform, cited by 66% of respondents.
Many organizations in the SaaS management platform market are starting to rely heavily on SaaS applications, which has created challenges for enterprise users who need to manage these applications and databases across multiple dev, test and production environments. This problem is compounded by the fact that many corporate IT departments are not experts in software development and don't have the resources to manage these deployments themselves. Moreover, this increased popularity has led to a proliferation of PaaS options, making it harder for organizations to decide which platform to deploy. That's where management platforms come in.
It has also been found in the global SaaS management platform market that only 66% of respondents use SaaS management platform from a commercial vendor. Meanwhile, 9% are using open-source platforms and 21% are using homegrown tools. The main reasons for not using a commercial platform were budgetary concerns (48%) and complexity (41%). Nearly half of all respondents cited the need to customize or build on top of the platform (47%), indicating that many companies feel their needs are not well addressed by these platforms. In addition, 13% say they have not found a commercially available platform that meets their specific needs.
Astute Analytica’s survey on SaaS management platform market provides valuable insights into common issues faced when managing SaaS applications such as inadequate collaboration tools, data inconsistency between different dev, test and production environments, cross-functional team overloads, and siloed development cultures.
Banking Financial Services and Insurance Industry to Hold More than 36% Share of Global SaaS Management Platform Market
As the world moves towards an era of digital transformation, technology is changing rapidly across many industries. One such industry that is seeing a lot of change is banking and financial services. Banks are now moving away from traditional software applications and into the world of cloud-based solutions. This shift is driven by a number of reasons, including the cost savings that can be realized through using cloud-based solutions and the enhanced security that comes with using cloud-based platforms.
One reason for the high demand from BFSI in the global SaaS management platform market is that these companies are looking to shrink operational costs while increasing their agility and effectiveness in managing their businesses. In addition, many of these organizations are moving away from on-premises software and towards cloud-based models. This influx of demand will be fueled by increasing adoption of agile software development methodologies and big data analytics. In addition, customers are demanding more flexible delivery models that can accommodate alterations to their business strategies on an as-needed basis.
To meet these demands, BFSI are increasingly adopting cutting-edge SaaS management platforms that provide comprehensive capabilities across all aspects of system administration and application management. These platforms provide users with fast and easy access to performance data, application logs, and incident histories in order to identify and address issues quickly.
According to Astute Analytica’s study, many BFSI perceive SaaS as a better option given its scalability, adaptability, automated managed workflow and improved security. In addition, the ease of use of SaaS tools has played a role in attracting these users, who see the platform as an extension of their own knowledge rather than a new set of tools to learn.
Top Players in Global SaaS Management Platform Market
About Astute Analytica Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
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