A Software as a Service (SaaS) company provides cloud-based software applications to users over the Internet, typically on a subscription basis. Unlike traditional software that requires installation on a local computer or server, SaaS applications are accessed through a web browser, which significantly reduces the need for hardware and software management by the end users.
These companies manage the infrastructure, platforms, and software, ensuring security, availability, and performance. These solutions are not only cost-efficient but also easily scalable.
SaaS has emerged as the most significant and rapidly expanding sector in the market over the last three years. As reported by Fortune Business Insights, the SaaS market is anticipated to reach $716.52 billion by 2028.
Presently, businesses are allocating 20% more of their budgets towards these cloud services compared to the previous year, indicating an increasing dependency on these leading SaaS providers.
What is Market Cap and Its Importance?
Market capitalization, often referred to as market cap, is the total market value of a company's outstanding shares of stock. It is calculated by multiplying the company's current share price by its total number of outstanding shares.
The market cap provides a quick and easy way to determine a company's size and how the market values it, making it a useful metric for investors and analysts when comparing companies within the same industry or sector.
For product buyers, it can signal the reliability and longevity of the company behind a product. For investors, the market cap offers insights into investment risk and portfolio diversification, guiding decisions on buying, holding, or selling stocks.
Market cap is categorized into different segments such as Large Cap, Mid Cap, Small Cap, Micro Cap, and Nano Cap.
In this article, Large Cap companies with a market cap of $10 billion or more and Mid Cap companies with a market capital of $2 billion or more are taken into consideration.
List Of Top 30 Companies by Market Cap
(SaaS Companies list - Figures shown are in Billion)
1. Microsoft
Microsoft stands as a behemoth in the tech landscape, catering to both B2B and B2C markets with an impressive portfolio of over 100 cloud products. Key services include the Office Suite, OneDrive for seamless cloud storage, Teams for effective collaboration, SharePoint for advanced content management, Exchange for reliable email services, and ClipChamp for creative video editing solutions.
Type of Services: B2B, B2C
Market Cap: $3,000 billion
2. Google Cloud Platform
Google Cloud Platform (GCP) excels as a predominant force in the B2B sector, offering a robust cloud infrastructure pivotal for product development and operational excellence in businesses. It provides advanced solutions for AI and data models, alongside a comprehensive suite of services including cloud databases, data analytics, container management, cloud compute options (VMs, GPUs, etc.), and media services.
Type of Services: B2B, B2C
Market Cap: $1,760 billion
3. Adobe
Adobe, a leading force in the digital media and marketing sector, boasting a rich suite of over 50 computer software products. The company is renowned for its flagship offerings such as Adobe Express for quick content creation, Photoshop for image editing, Premiere Pro for video editing, and Illustrator for vector graphics. Adobe’s solutions cater to a wide array of creative and professional needs in digital media, marketing, printing, and publishing.
Type of Services: B2C
Market Cap: $283 billion
4. Slack
Slack revolutionizes workplace communication with its state of the art collaboration and chat tool. Specializing in streamlining communication across teams, Slack offers a platform that integrates with a myriad of third-party applications to enhance productivity and team collaboration. With a portfolio that includes 3 distinct products, Slack is dedicated to refining and expanding its services to meet the evolving needs of businesses worldwide.Type of Services: B2C
Market Cap: $274 billion
5. SalesForce
Salesforce is renowned for its comprehensive suite of cloud computing solutions, owning 58 products that revolutionize CRM, marketing, commerce, and sales. With a focus on customer relationship management, Salesforce offers an integrated platform that enables businesses to connect with their customers in a whole new way, driving growth through better customer insights and personalized engagement.
Type of Services: B2C
Market Cap: $274 billion
6. SAP Concur
SAP Concur is specializes in streamlining travel, expense, and invoice management processes for businesses. With a focus on simplifying and automating financial transactions and reporting, SAP Concur provides tools that help companies manage their spending more efficiently while ensuring compliance and enhancing the user experience for employees.
Type of Services: B2B
Market Cap: $205 billion
7. Intuit
Intuit is a leading global financial technology platform that empowers individuals and businesses to thrive financially. Among its renowned services are MailChimp for email marketing, QuickBooks for accounting, CreditKarma for credit scores and financial advice, and TurboTax for tax preparation.
Type of Services: B2C
Market Cap: $177 billion
8. ServiceNow
ServiceNow has established itself as a pivotal force in streamlining corporate operations through digital workflows. The company offers an extensive suite of services aimed at enhancing IT service management (ITSM), IT operations management (ITOM), and beyond. Key offerings include ITSM, ITOM, HR Service Delivery, IT Asset Management, Application Portfolio Management, and Customer Service Management, among others. These solutions empower organizations to manage digital workflows for enterprise operations efficiently.
Type of Services: B2C
Market Cap: $158 billion
9. Shopify
Shopify has revolutionized the e-commerce landscape by providing an extensive platform for online stores and point-of-sale (POS) systems. This service empowers businesses of all sizes to launch, manage, and grow their online presence with ease and efficiency. Catering specifically to the needs of businesses looking to expand their digital footprint, Shopify's platform is a comprehensive solution for e-commerce and retail management.
Type of Services: B2B
Market Cap: $98 billion
10. Workday
Workday, specializes in providing comprehensive finance and human resources solutions. The company's innovative services are designed to help organizations adapt to the changing world of work by offering scalable solutions for financial management, HR, planning, and analytics.
Type of Services: B2C
Market Cap: $77 billion
11. Snowflake
Snowflake is a leading data cloud platform, enabling businesses to effortlessly manage and analyze their data. With a specialization in data warehousing, Snowflake provides a powerful, cloud-based solution that supports data engineering, data lake, data application development, and data sharing. This innovative platform offers unparalleled flexibility, scalability, and performance to businesses looking to harness the power of their data.
Type of Services: B2B
Market Cap: $65 billion
12. Atlassian Corporation
Atlassian Corporation, a prominent player in the software industry and it has array of products designed for software development, team collaboration, project management, and code quality enhancement. Renowned for its flagship products, Jira for project and issue tracking and Confluence for team collaboration and knowledge sharing, Atlassian stands out for its commitment to improving workflow and productivity for teams of all sizes.
Type of Services: B2C
Market Cap: $65 billion
13. Square
Square offers innovative credit card processing app, making it simpler for businesses to accept credit payments without the need for a traditional cash register. This service allows users to purchase the Square product and, by plugging it into a phone, computer, or tablet, instantly transform the device into a credit card processor. With a focus on streamlining payment processes for businesses of all sizes, Square empowers merchants by offering a flexible and straightforward solution to manage transactions.
Type of Services: B2B
Market Cap: $41 billion
14. Veeva
Veeva specializes in cloud solutions specifically designed for the pharmaceutical and global life sciences sectors. It offers a variety of services including Clinical Platform, Vault RIM, and Cloud Solutions, alongside a Medical suite and Commerce Solutions encompassing CRM, event management, and field planning. These comprehensive tools support the intricate needs of life sciences organizations.
Type of Services: B2C
Market Cap: $32 billion
15. MongoDB
MongoDB is a leading provider of NoSQL database services, catering to businesses seeking flexible, scalable database solutions. Noteworthy offerings include MongoDB Atlas for cloud database management, MongoDB Compass for database visualization and management, and MongoDB Realm for mobile and web application development. MongoDB's focus is on delivering robust data management and analysis solutions.
Type of Services: B2B
Market Cap: $32 billion
16. HubSpot
HubSpot, offering an extensive suite of software solutions for customer relationship management (CRM), marketing, sales, service, operations, and commerce. These integrated hubs are designed to assist businesses in attracting, engaging, and delighting customers at every stage of their journey, fostering growth through inbound marketing strategies.
Type of Services: B2C
Market Cap: $30 billion
17. Splunk
Splunk, offering advanced software solutions for searching, monitoring, analyzing, and interpreting machine-generated big data. This powerful platform is designed to help businesses harness the value of their data through insightful analytics and operational intelligence.
Type of Services: B2B
Market Cap: $25 billion
18. Zoom
Zoom has revolutionized the way we communicate with its comprehensive suite of virtual meeting tools. Its services include video conferencing, team chats, a VoIP phone system, and an integrated calendar, making remote communication seamless and efficient.
Type of Services: B2C
Market Cap: $19 billion
19. Okta
Okta is providing sophisticated identity management solutions. Its services, including the Customer Identity Cloud and Workforce Identity Cloud, offer robust security and seamless access for organizations looking to protect and streamline their operations.
Type of Services: B2B
Market Cap: $14 billion
20. Twilio
Twilio delivers a comprehensive range of communication solutions including email, voice, phone numbers, and SMS services. This platform enables businesses to build and scale their communication strategies effectively, ensuring a more connected and engaged customer experience.
Type of Services: B2C
Market Cap: $12 billion
21. Elastic
Elastic serves the B2B market with its specialized analytics and monitoring solutions, designed to enhance data exploration and insights. Leveraging a unique search feature, Elastic's platform empowers users to interact with their data in innovative ways, facilitating deeper analysis and understanding.
Type of Services: B2B, B2C
Market Cap: $12 billion
22. Paycom
Paycom is offering comprehensive HR and payroll management solutions. With a focus on automating and streamlining complex business processes, Paycom's software significantly enhances operational efficiency for organizations.
Type of Services: B2B
Market Cap: $11 billion
23. Dropbox
Dropbox is providing a cloud-based storage solution for documents and data. As a pioneer in cloud storage, Dropbox simplifies the way individuals and businesses store, share, and collaborate on files.
Type of Services: B2C
Market Cap: $11 billion
24. Monday
Monday.com specializes in work management and CRM solutions. Its platform, including Monday Work Management and Monday Sales CRM, offers versatile tools for project tracking, team collaboration, and sales processes enhancement.
Type of Services: B2C
Market Cap: $10 billion
25. DocuSign
DocuSign leads the electronic signature technology sector. It offers a suite of services, including the DocuSign eSignature, Agreement Cloud, CLM, Identify, Payments, and Notary, revolutionizing how agreements are signed and managed digitally.
Type of Services: B2C, B2B
Market Cap: $10 billion
26. Wix
Wix offers an intuitive website creation tool, enabling anyone to create websites without technical knowledge. This platform democratizes web design, allowing users to easily build professional-looking websites.
Type of Services: B2C
Market Cap: $7 billion
27. Asana
Asana, a project management software that enable teams to manage, track, and collaborate on projects effectively. Its intuitive interface and robust features help streamline workflows and enhance productivity.
Type of Services: B2C
Market Cap: $3.90 billion
28. RingCentral
RingCentral provides messaging and video solutions. As a communications provider, it offers comprehensive phone, message, and video services to facilitate seamless internal business communication.
Type of Services: B2C, B2B
Market Cap: $3 billion
29. Appian
Appian delivers automation and case management solutions through its low-code automation software. With services like Low-Code Automation Platform, Process Mining, and Robotic Process Automation, Appian streamlines business processes efficiently.
Type of Services: B2B, B2C
Market Cap: $2.40 billion
30. Jamf
Jamf specializes in offering simplified IT solutions for Apple device management. Its products are designed to make Apple device setup, management, and security both effective and straightforward for organizations.
Type of Services: B2B
Market Cap: $2 billion
