Real-Time Industrial Classifications

UK Software as a Service (SaaS) Industry

Undercover and understand the UK’s emerging Software as a Service (SaaS) sector and the companies selling innovative software solutions and subscriptions. Find sector trends, growth information, financials and more with our SaaS Real-Time Industrial Classification (RTIC) data.

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What is Software as a Service (SaaS)?

Often abbreviated, SaaS stands for Software as a Service. It’s a term used to describe the process of delivering software or applications over the internet as a cloud-based service rather than being installed or downloaded.

Often run as a subscription service for customers and businesses, the SaaS model has allowed companies to make software more accessible, compatible and easier to operate, with customers able to access services direct through a browser. Today, SaaS platforms can be almost anything, from CRM systems and project management software to analytics and creative tools, providing innovative software to the healthcare, advertising, finance, real estate industries and beyond.

As the SaaS model has grown over the years, so has the categorisation of companies within the industry. As well as SaaS, don’t be surprised if you see reference to other types of services, including PaaS (Platform as a Service) and IaaS (Infrastructure as a Service).

Software as a Service (SaaS) sector summary

Key information you should know about the Software as a Service (SaaS) sector from our AI-driven platform of over 5 million companies:

The Software as a Service (SaaS) sector is one of our top 10 sectors for overall venture capital funding.
On average the roles advertised in this sector are 17.84% higher than the UK’s average salary.
Software as a Service (SaaS) has turnover of £55.04bn, meaning it is our 27th largest RTIC, and our 1st fastest growing sector.

3,255

COMPANIES CONSIDERED

£55,040,053,110

TOTAL TURNOVER

341,468

TOTAL EMPLOYEES

£30,428,570,000

TOTAL INVESTMENT FUNDING

£28,262,622

TOTAL INNOVATE UK GRANT FUNDING

25.2%

AVERAGE COMPANY GROWTH PER YEAR

Software as a Service (SaaS) verticals

Our Software as a Service (SaaS) RTIC is made up of 8 individual industry verticals, including verticals such as Analytics, Communications, Development. You can find out more about the verticals by buying a report, visualising the sector on our platform, or by downloading the data.

Sector Code Description Records
RTIC0029 Software as a Service (SaaS) 3276 companies
Companies selling software subscriptions, often hosted in the cloud, either directly to consumers or to businesses.
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- Software as a Service (SaaS): Analytics
  Companies producing SaaS platforms that facilitate data analytics processes
  718 companies
- Software as a Service (SaaS): Communications
  Companies supplying SaaS platforms that facilitate communication between people
  290 companies
- Software as a Service (SaaS): Development
  Companies providing specialised services to SaaS developers
  756 companies
- Software as a Service (SaaS): Finance and Accounting
  Companies providing SaaS platforms applied within accounting and / or for financial purposes
  382 companies
- Software as a Service (SaaS): Healthcare
  Companies developing SaaS platform for the healthcare sector
  242 companies
- Software as a Service (SaaS): Human Resources
  Companies selling access to SaaS platform for HR departments
  346 companies
- Software as a Service (SaaS): Marketing
  Companies offering SaaS platforms used to increase sales or support marketing processes.
  599 companies
- Software as a Service (SaaS): Real Estate
  Companies providing SaaS platforms for the real estate industry
  165 companies

Software as a Service (SaaS) industry growth

We estimate that the UK Software as a Service (SaaS) sector could be worth approximately £169.3bn by 2027, based on the compound annual growth rate (CAGR) of 25.2%. Below you can see the five year turnover forecast for the RTIC from 2023 to 2027.

Get your free SaaS report

Dig deeper into the UK’s Software as a Service (SaaS) industry with our free 2022 RTIC report, which includes:

– Summary of RTIC data & industry performance
– Overview of key verticals
– Geographic analysis & breakdown
– Key insights & trends

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Real-Time Industrial Classifications (RTICs)

At The Data City we’re mapping the emerging economy through accurate and reliable real-time data. We’ve produced Real-Time Industrial Classifications (RTICs) for some of the UK’s fastest growing sectors, across over 350 industry verticals, including Software as a Service (SaaS).

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