Software-as-a-Service (SaaS) now constitutes an important economic sector in cyberspace. The global coronavirus pandemic created significant opportunities for the SaaS industry, with companies relying upon SaaS providers to remain fully functional.
On top of it, according to Gartner, 51% of IT spending by enterprise IT Groups that can transition to the cloud will shift to it by 2025, and organizations seem to be in the process of shifting to SaaS to support continued flexibility and agility. The global SaaS market size is predicted to reach $703.19 billion by 2030, growing at a CAGR of 18.8%.
