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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 amount of Innovate UK grants is not increasing as fast in the Software as a Service (SaaS) sector, as our other emerging economy sectors.
  • Software as a Service (SaaS) has turnover of £42.58bn, meaning it is our 19th largest RTIC, and our 11th fastest growing sector.
  • The Software as a Service (SaaS) sector is one of our top 10 sectors for overall venture capital funding.
3,102
COMPANIES CONSIDERED
£45,942,031,337
TOTAL TURNOVER
167,387
TOTAL EMPLOYEES
£103,946,460,000
TOTAL INVESTMENT FUNDING
£43,525,691
TOTAL INNOVATE UK GRANT FUNDING
5.8%
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) 3102 companies

    Companies selling software subscriptions, often hosted in the cloud, either directly to consumers or to businesses.

    • Software as a Service (SaaS): Analytics

      Companies producing SaaS platforms that facilitate data analytics processes

      781 companies
    • Software as a Service (SaaS): Communications

      Companies supplying SaaS platforms that facilitate communication between people.

      306 companies
    • Software as a Service (SaaS): Development

      Companies providing specialised services to SaaS developers

      811 companies
    • Software as a Service (SaaS): Finance and Accounting

      Companies providing SaaS platforms applied within accounting and / or for financial purposes.

      426 companies
    • Software as a Service (SaaS): Healthcare

      Companies developing SaaS platform for the healthcare sector

      280 companies
    • Software as a Service (SaaS): Human Resources

      Companies selling access to SaaS platform for HR departments

      370 companies
    • Software as a Service (SaaS): Marketing

      Companies offering SaaS platforms used to increase sales or support marketing processes.

      660 companies
    • Software as a Service (SaaS): Real Estate

      Companies providing SaaS platforms for the real estate industry

      177 companies

Software as a Service (SaaS) industry growth

We estimate that the UK Software as a Service (SaaS) sector could be worth almost £53bn by 2027, based on the compound annual growth rate (CAGR) of 4.3%. 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

Our innovative data

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).

Discover more RTICs and access our other free reports today.

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