Industrial Software: Why SaaS

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By Ryan Martin | 3Q 2021 | IN-6257

 

Spend to More than Double Over the Next Decade

NEWS


ABI Research estimates the industrial software market will grow from US$49.6 billion in 2021 to US$87.9 billion in 2026, at a 12.1% CAGR. At the same time, software-as-a-service (SaaS)-enabled solutions within the industrial software domain will grow from about 5-8% of the market today to 32% by the end of the forecast. This includes everything from ERP, CRM, and demand planning to CAD, PLM, and quality control.

Several years ago, cloud would not have been on the table, let alone SaaS and shared data models. In fact, many companies are still transitioning from perpetual licenses to a subscription model. But all this is starting to change with the need for cloud to enable distributed teams to collaborate in real time – and following the move to cloud is the evolution of new business models, most notably the move to SaaS.

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