The growing shift of enterprises towards software as a service (SaaS) from an on-premises model owing to the high cost of on-premises software deployment is projected to propel the software market growth. Therefore, the global SaaS market is projected to grow at a CAGR of 12% by 2030.
The hybrid cloud model is becoming increasingly popular, offering the benefits of both public and private clouds. Additionally, vertical SaaS solutions are gaining popularity as they cater to specific industry needs, such as retail analytics and business intelligence.
