/ Press Release / Information Technology

Global SaaS Management Platform Market Increasing focus on SaaS application security and Rapid shift to cloud/SaaS-based applications

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SaaS management platform is a tool which is used to operate and centrally manage multiple SaaS applications, providing a single point of management for numerous applications. SaaS management platforms enables IT administrators to manage the regular operations for Google G Suite, Microsoft Office 365 and other frequently used SaaS-based applications. SaaS management platforms helps IT administrators in managing application policies, track application usage, take corrective action and automate IT administrative tasks.

With the growing popularity and adoption of SaaS applications and platforms, the security issues and challenges of SaaS have also increased. This is because SaaS products are relatively simple to implement, so various business units within the company can often procure them without the supervision of a security or IT team. Therefore, enterprises are emphasizing on securing their infrastructure by frequently monitoring their SaaS application and platforms. Enterprises are focused on integrating SMPs with endpoint management, endpoint security, data governance and identity access management tools and processes to gain a complete picture of SaaS application usage and integrations. This platform immediately notifies about all new access request for enterprise SaaS applications in the ecosystem. With the help of this platform, organizations can check these applications and terminate access when they do not meet all security and compliance standards.

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The worldwide demand for SaaS Management Platform market was estimated at around USD 2,525.6 million in 2022, and by the end of 2031, existing and expected developments would hit valuations of around USD 8,346.7 million. The industry players and analysts predict theglobal SaaS Management Platform marketgrowth of around 17% in terms of CAGR. Growing adoption of SaaS-based applications across enterprises is expected to drive the growth of the SaaS Management Platform market. The rise in shift toward advanced technologies would prompt various companies to invest heavily in the upgrade of their infrastructure. Small and medium enterprises companies are expected to migrate their traditional infrastructure to cloud infrastructure which will further provide huge demand opportunities for SaaS management platforms in the near future. However, difficulties in managing applications arises from performing separate manual operational tasks within each SaaS application. This approach becomes confusing, tedious and time-consuming as organizations have so many apps deployed. If not handled properly, it will also create new security risks. This is one of the major factors expected to hamper the SaaS Management Platform market.

Some of the leading and top SaaS Management Platform companies in the global SaaS Management Platform market include BetterCloud, Quadrotech, Chargebee, AvePoint, Basaas, Zylo, Binadox, Applogie LLC, Apptio, CoreView, LeanIX GmbH among others. The leading players such as Kaseya, CoreView, Lyme, Zylo, Apptio and Chargebee, hold around 40% market share of the global SaaS Management Platform market.

On the basis of type, the worldwide SaaS Management Platform market can be segmented into SaaS Subscription Management, SaaS User Management, SaaS Vendor Management and Cloud Vendor Management, with the ' SaaS Subscription Management' category having the leading market share of about 54 percent. Based on enterprise size, the global SaaS Management Platform market small & medium enterprise and large enterprise. In terms of end-user, global SaaS Management Platform market can be segmented into BFSI, e-commerce, Education, IT & Telecom, Healthcare, Education, Manufacturing and others. In terms of geography, North America region held the leading market share of around 37% among other regions such as North America, Europe, Latin America, and Middle East & Africa in the global SaaS Management Platform market.

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