Top 10: SaaS Platforms

With the cloud computing market set to hit a value of US$1.5tn by 2030, organisations are increasingly moving towards the cloud.

And with the increase in remote working prompted by the COVID-19 pandemic, the rise of the Software as a Service (SaaS) model offers numerous benefits for companies, fundamentally altering how businesses deploy and use software. 

One of the primary advantages is cost reduction, as SaaS eliminates the need for substantial upfront investment in software licenses and hardware infrastructure.

With other benefits including the scalability and speed of adoption, here Technology Magazine highlights the Top 10 SaaS Platforms, ordered by market cap.

10. Autodesk

Headquarters: San Francisco, California

Market cap: US$55bn

CEO: Andrew Anagnost

Autodesk offers products that support cloud-based collaboration and enable application deliverables in a SaaS model right to a desktop or mobile device. Its cloud and online CAD software enables teams to work anywhere and collaborate with anyone.

Autodesk’s technology spans architecture, engineering, construction, product design, manufacturing, media and entertainment, empowering innovators everywhere to solve challenges big and small. From greener buildings to smarter products to more mesmerising blockbusters, Autodesk software helps its customers to design and make a better world for all.

9. Atlassian

Headquarters: Sydney, Australia

Market cap: US$56bn 

CEO: Mike Cannon-Brookes and Scott Farquhar

Atlassian is a global software company helping teams around the world unleash their potential, and building tools that help teams collaborate, build and create together.

With more than 300,000 customers, Atlassian is building the next generation of team collaboration and productivity software. 

Atlassian’s cloud products are optimised for seamless cross-product experiences so organisations can move faster, collaborate better and accelerate speed to market. Its SaaS products are built on best-in-class cloud technologies, providing businesses with a scalable, secure and reliable offering.

8. Snowflake

Headquarters: Bozeman, Montana

Market cap: US$72bn 

CEO: Frank Slootman

Snowflake enables every organisation to mobilise their data with Snowflake’s Data Cloud. Customers use the Data Cloud to unite siloed data, discover and securely share data, power data applications, and execute diverse AI/ML and analytic workloads.

Wherever data or users live, Snowflake delivers a single and seamless experience across multiple public clouds in a SaaS model. Snowflake’s platform is the engine that powers and provides access to the Data Cloud, creating a solution for applications, collaboration, cybersecurity, data engineering, data lake, data science and data warehousing.

7. CrowdStrike

Headquarters: Austin, Texas

Market cap: US73bn 

CEO: George Kurtz

CrowdStrike has redefined modern security with the world’s most advanced cloud-native platform for protecting critical areas of enterprise risk – endpoints and cloud workloads, identity and data. 

Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform – offered as a purely SaaS solution – leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritised observability of vulnerabilities.

6. Workday

Headquarters: Pleasanton, California

Market cap: US$78bn

CEO: Carl M. Eschenbach

Workday is a leading provider of enterprise cloud applications for finance and human resources, helping customers adapt and thrive in a changing world. In 2023 it announced a series of new AI and ML capabilities and partner ecosystem updates to help businesses drive productivity, streamline business processes, empower their people, and make better decisions, all through its SaaS cloud platform.

Workday is used by more than 10,000 organisations around the world and across industries, from medium-sized businesses to more than 50% of the Fortune 500.

5. Shopify

Headquarters: Ottawa, Canada

Market cap: US$107bn 

CEO: Carl M. Eschenbach

From wholesale to direct to consumer, the world’s leading brands trust Shopify’s SaaS ecommerce platform with all their business. The company offers a full-service ecommerce experience where users can create and host ecommerce stores, add multiple payment options, translate stores, handle shipping and market their business, amongst other functions.

The company’s platform powers millions of businesses in more than 175 countries and is trusted by prestigious brands such as Allbirds, PepsiCo and Staples.

4. ServiceNow

Headquarters: Santa Clara, California

Market cap: US$160bn 

CEO: Bill McDermott

ServiceNow develops a cloud computing platform to help companies manage digital workflows for enterprise operations. It offers a SaaS platform for a fast‑changing world, built to optimise processes, make work more intuitive and create new value.

Born in the cloud, the Now Platform is the intelligent foundation that all ServiceNow products run on – with AI and machine learning built-in. It lets businesses automate and connect the work that moves them forward, making it run faster, smoother, and more efficiently.

3. Intuit

Headquarters: Mountain View, California

Market cap: US$179bn 

CEO: Sasan K. Goodarzi

Intuit is a global technology platform that helps its customers and communities overcome their most important financial challenges. Through SaaS offerings like QuickBooks and TurboTax, the company helps consumers and small businesses overcome their most important financial challenges.

Across its platform Intuit uses the power of technology to deliver three core benefits to its customers: helping put more money in their pockets, saving them time by eliminating work so they can focus on what matters to them, and ensuring that they have complete confidence in every financial decision they make.

2. Salesforce

Headquarters: San Francisco, California

Market cap: US$277bn

CEO: Marc Benioff

An early pioneer of cloud computing and a SaaS model, Salesforce is the global leader in CRM, helping companies connect with customers in a whole new way by giving teams a centralised location to store, track, and manage customer information. 

Founded in 1999, Salesforce enables companies of every size and industry to digitally transform around their customers by harnessing the power of automation, AI and real-time data to make every customer experience more personal, valuable and memorable. Its  flexible cloud infrastructure, Hyperforce, lets Salesforce applications scale rapidly and enables businesses to run their Salesforce apps anywhere in the world.

Salesforce offers a number of SaaS products and applications, including Sales Cloud, Service Cloud, Marketing Cloud and Commerce Cloud.

1. Adobe

Headquarters: San Jose, California

Market cap: US$287bn

CEO: Shantanu Narayen

With a mission to change the world through digital experiences, Adobe is a global leader in digital media and digital marketing solutions. Its suite of Creative Cloud products, in a SaaS offering, is integral to creative industries, featuring industry-standard software like Adobe Photoshop, Adobe Illustrator, and Adobe Premiere Pro.

Adobe has also integrated AI into its SaaS offering. At its recent Adobe Max event, the company revealed Firefly Image 2, an enhanced version of the original Firefly AI image generator that empowers features like Photoshop's Generative Fill, in addition to two new Firefly models dedicated to producing vector images and design templates. 

Incorporated in Delaware and headquartered in San Jose, California, Adobe has a diverse global population of more than 29,000 employees.

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