Top 10 SaaS companies of the world

SaaS or software as a service is a way of delivering useful technical services on the internet instead of installing & maintaining software. SaaS platforms are the platforms which provide SaaS services. The total global market size of SaaS was USD 130.69 billion in 2021 which is expected  to grow up to USD 716.52 billion in 2028 at a CAGR of 27.5%

All the Top 10 companies based on market cap are there because they are creating value to our lives:

10. Service Now (Market Cap 121.64B USD) 

Servicenow is a platform which helps to maintain digital workflows across different domains under the company & making things smooth. Fred lurry started ServiceNow on His birthday when he was 49 because people told him He can’t start new when he will turn 50.

The current market cap of Servicenow is 49% more than the Indian education budget in 2022.

9. IBM (Market Cap 123.32B USD)

IBM originated from the unification of several companies that worked to automate routine business transactions, including the first companies to build punched card-based data tabulating machines and to build time clocks. In 1911, these companies were amalgamated into the Computing-Tabulating-Recording Company (CTR). Their goal was to create a machine that can store attendance without using cardboard-based cards.

Their market capitalization is approximately 4.5times than that of Dell which is one of the leading hardware manufacturing companies(27.84B USD)

8. SAP (Market Cap 148.66B USD)

SAP was started in 1972 by five former IBM employees with a vision of creating standard application software for real-time business processing. SAP stands for Systems Applications and Products in Data Processing. Its market cap is 148.66B USD which is approximately similar to the market cap of India’s largest IT company (TCS market cap of 144.11B USD)

7.Intuit (Market Cap 162.94B USD)

Intuit was founded in 1983 by Scott Cook who was ex Procter & gamble employee where while working he realised that Pen & Paper based accounting will soon be replaced by Computer-based accounting.

Their market capitalization is approximately similar to the annual GDP of Qatar in the financial year 2021(179B USD)

6. Salesforce (Market Cap 216.68B USD)

Salesforce was started in 1999 and is now one of the leading CRM (Customer Relationship Management) companies. The company was founded by Marc Benioff thought that the software should be made available to the masses, on a 24/7 basis, over a global cloud computing infrastructure.

Their market capitalization is approximately similar to the annual GDP of Iraq in the financial year 2021(208B USD)

5. Oracle (Market Cap 223.13B USD)

Larry Ellison co-founded oracle corporation in 1977 When he read research on relational database management systems. He heard about the IBM System R database from an article in the IBM Research Journal provided by Oates. Ellison wanted to make Oracle's product compatible with System R.

Their market capitalization is almost similar to India’s largest company market capitalization(Reliance Industries 217.32B USD)

4. Adobe(Market Cap 243.70B USD)

It was founded by John Warnock & Charles Geschke in 1982 when while working at Xerox They developed a programming language that would describe objects’ precise shape and position on a computer-generated page. The language, later named Postscript, was a huge success. In 1989 They introduced an image manipulation software application known as Photoshop, which became a successful and popular Adobe program worldwide.

Their market capitalization is approximately equal to the annual revenue generated by the overall Indian IT sector in FY22 (227B USD)

3. Alphabet[Google] (Market Cap 1863.75B USD)

 Google began as a research project of Larry Page, who enrolled in Stanford’s computer science graduate program in 1995. There, he met fellow CS student Sergey Brin. The two stayed in touch as Page began looking into the behaviour of linking on the World Wide Web. Page conceived a system that would crawl the internet to determine which pages were linking to other pages, positing that it could lead to the creation of a new kind of search engine. Together with Brin’s maths expertise, the duo created the PageRank algorithm, named after Larry, to rank the search results based on linking behaviour.

Its market capitalization is 4.5 times higher than the total revenue generated by the America IT sector in FY22.

2. Microsoft  (Market Cap 2319.08B USD)

Starting in April 1975, Inspired by the January cover of Popular Electronics magazine, friends Bill Gates and Paul Allen started Microsoft – sometimes Micro-Soft, for microprocessors and software – to develop software for the Altair 8800, an early personal computer. They created a software system for IBM computers.

Their market capitalization is twice that of the total trading volume of the Indian stock exchange market (1100 B USD)

1. Apple (Market Cap 2861.75B USD)

Starting in April 1976 Apple was founded by college dropouts Steve Jobs and Steve Wozniak, who brought to the new company a vision of changing the way people viewed computers. Jobs and Wozniak wanted to make computers small enough for people to have them in their homes or offices. In simple words, they wanted a computer that was user-friendly.

Being the world’s largest SaaS company, Apple contributes around 8-10% to the US economy.