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 has not received additional investor attention in recent years and the amount of venture capital funding is not increasing as fast as our other emerging economy sectors.
- The Software as a Service (SaaS) sector is one of our top 10 sectors for overall venture capital funding.
- 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) 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) 3042 companies
Companies selling software subscriptions, often hosted in the cloud, either directly to consumers or to businesses.
- Software as a Service (SaaS): Analytics781 companies
Companies producing SaaS platforms that facilitate data analytics processes
- Software as a Service (SaaS): Communications306 companies
Companies supplying SaaS platforms that facilitate communication between people.
- Software as a Service (SaaS): Development811 companies
Companies providing specialised services to SaaS developers
- Software as a Service (SaaS): Finance and Accounting426 companies
Companies providing SaaS platforms applied within accounting and / or for financial purposes.
- Software as a Service (SaaS): Healthcare280 companies
Companies developing SaaS platform for the healthcare sector
- Software as a Service (SaaS): Human Resources370 companies
Companies selling access to SaaS platform for HR departments
- Software as a Service (SaaS): Marketing660 companies
Companies offering SaaS platforms used to increase sales or support marketing processes.
- Software as a Service (SaaS): Real Estate177 companies
Companies providing SaaS platforms for the real estate industry
Software as a Service (SaaS) industry growth
We estimate that the UK Software as a Service (SaaS) sector could be worth approximately £72.9bn by 2027, based on the compound annual growth rate (CAGR) of 7.5%. 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
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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