The worldwide software-as-service (SaaS) market grew by 33 percent in the second quarter of 2016 and Microsoft’s SaaS business experienced significant growth as well. So much so, it has overtaken Salesforce as the number one enterprise SaaS provider, according to Synergy Research Group.
The enterprise SaaS market is set to triple in size over the next five years. The consumer SaaS market is only one-third of the size of its enterprise brethren. Currently, Microsoft is dominating both of those markets, thanks to its Office 365 offering. It has more than doubled its revenue on a rolling annualised basis, according to Synergy Research Group.
Microsoft achieved the second highest 2015 revenue growth rate among the top ten SaaS companies. SAP, Adobe, IBM and Workday all achieved 2015 growth rates more than 50%, and Oracle too is now surging ahead.