Much of the business world runs on software, and countless companies subscribe to Software-as-a-Service (SaaS) providers for access to the software applications they need over the internet as a service rather than as traditional on-premises software that is installed on computers or servers.
SaaS providers develop, host, and manage software, giving users flexibility for the software they need to run their businesses by reducing their costs such as paying for extensive IT infrastructure to manage various platforms on their own. From cloud computing and databases to productivity applications and customer relationship management tools, SaaS-based solutions can scale to accommodate growing businesses based on a subscription model.
According to Statista, revenue in the Canadian SaaS market is projected to reach US$8.63 billion in 2024 and show an annual growth rate of 19.57% through 2029. It’s safe to say the demand for SaaS providers of all varieties will continue to climb.
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