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  • The HMX Group

How The 5 biggest SaaS Players Dominate The Market


The SaaS industry will grow from $96 billion in 2022 to $235 billion by 2028 with a CAGR of 15.9%, and top performers include Adobe, Intuit, and Salesforce. During the pandemic, almost 70% of full-time employees worked from home, and over 60% of companies surveyed plan to continue remote work after the pandemic, requiring most operations to move to the cloud. Gartner predicts that 70% of customer interactions will involve SaaS-related technologies such as ML and chatbots. The CRM market is expected to be worth over $60 billion by 2025, and the HR software market is expected to be worth over $30 billion by 2028, growing at a CAGR of 14.0% and 10.10% respectively.


5. Salesforce

Market Cap: $184.01 billion

A pure-play cloud-based software business, primarily known for it’s customer relationship management (CRM) solutions. But the conglomerate also dominate a number of domains through Salesforce Marketing Cloud, Salesforce Service Cloud, Salesforce Commerce Cloud, Salesforce Analytics Cloud, Salesforce AppExchange, and Salesforce Platform (app development platform).


4. Cisco Systems

Market Cap: $201.54 billion

Cisco is primarily known for its networking hardware, software, and services. But they also have a strong presence in SaaS through Webex, a video conferencing and collaboration platform, Meraki, a cloud-based networking platform, and Cisco Umbrella, a cloud security platform.


3. Oracle

Market Cap: $229.70 billion

Oracle generates the bulk of its revenue from the market with estimates suggesting it has 4% of the global SaaS market. Solutions include ERP, HCM, supply chain management, and customer experience, marketing and sales automation solutions via NetSuite, Fusion, Eloqua and Oracle Sales Cloud.


2. Alphabet

Market Cap: $1.21 trillion

Alphabet has global internet search industry dominance through Google. This subsidiary is their ticket into the global SaaS space and includes Google Workspace, their cloud platform, Ads, analytics and Firebase. Responding to weaker than expected earnings in Q3 2022, Diamond Hill wrote “We expect Alphabet’s search engine advertising, YouTube advertising and other initiatives to continue driving revenue growth.”


1. Microsoft

Market Cap: $1.93 trillion

Microsoft delivers essential cloud products through Microsoft Azure. Prominent SaaS offerings include MS365, Teams, OneDrive, as well as the Dynamics 365 platform for sales, customer service, finance, operations, and more. They’ve also made a number of well timed acquisitions including companies like GitHub, as well as significant investments into companies like openAI. According to the latest financial results, Microsoft Cloud revenue grew 22% year-over-year to $27.1 billion.

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