Software as a Service (SaaS) is a new approach that is replacing traditional software license purchase. That is why the SaaS delivery model has gained a lot of popularity in the last decade.
According to research conducted by The Insight Partners, “the SaaS market accounted for US$31.57 billion in 2015 and is estimated to expand at a CAGR of 18.6% between 2016 to 2025, accounting for US$ 172.20 billion in 2025.