SaaS Escrow Services Market Expected to Reach $26.4 Billion by 2033

According to a new report published by Allied Market Research, titled, “SaaS Escrow Services Market," The saas escrow services market size was valued at $6.7 billion in 2023, and is estimated to reach $26.4 billion by 2033, growing at a CAGR of 14.3% from 2024 to 2033. The rapid deployment of new features and functionality that make agile development popular among software companies and end users alike made traditional escrow depositing practices obsolete. SaaS escrow providers must embrace technological advances to improve the quality and value of their services. Furthermore, software industry trends such as software-as-a-service (SaaS) and agile development methodologies have dramatically impacted the SaaS escrow industry and resulted in a reinvention of how the escrow services are delivered and maintained over time to ensure value. 

Factor such as growing digitalization transformation initiative, thus drive the growth of the market. In addition, the increase in adoption of SaaS escrow services across enterprises and emergence of source code escrow & low-code strengthen the growth of the market for future. Furthermore, rapid changes in business model software due to geographical expansion of the businesses, provides lucrative growth opportunities for the market during the forecast period. However, high cost of innovation and budget constraints hamper the growth of the SaaS escrow services market size.

Furthermore, companies of all sizes are now turning to SaaS Escrow vendors to develop robust SaaS continuity solutions that provide for a continuation of service. Many varied reasons for considering a SaaS escrow agreement are there including concerns about vendor bankruptcy, unplanned service outages, and potential data loss or corruption. Many organizations such as government, retail, and other sectors are adopting SaaS escrow services due to its benefits. This factor creates lucrative growth opportunities in the market.

Moreover, these services enhance vendor-client relationships, fostering trust and confidence by demonstrating a commitment to the continued functionality of critical software applications. The adaptability of SaaS escrow services to different industries further underscores their versatility, offering tailored solutions that address the specific needs of businesses across diverse sectors. As a result, the implementation of SaaS escrow services provides a strategic and comprehensive approach to risk management, contributing to the stability, resilience, and longevity of businesses in the ever-evolving digital landscape.

Based on deployment mode, the global SaaS escrow services market share was dominated by the public cloud segment in 2023 and is expected to maintain its dominance in the upcoming years. This is attributed to the widespread adoption of public cloud infrastructure, which offers cost-effective, scalable, and flexible solutions for businesses. However, the private cloud segment is expected to witness the highest growth due to higher security and easier maintenance.

By region, North America dominated the market share in 2023 for the SaaS escrow services market owing to the increase in usage of SaaS escrow services in BFSI, retail, healthcare, and other sectors to improve businesses and the customer experience which is anticipated to provide lucrative growth opportunities for the SaaS escrow services market in North America. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. This is attributed to the increase in penetration of advanced technology and higher adoption of cloud-based solution and services that propel the growth of the global SaaS escrow services market in this region.

Key findings of the study 

• By deployment mode, the public cloud segment held the largest share in the SaaS escrow services market in 2023.

• By enterprise size, the large enterprise segment held the largest share in the SaaS escrow services industry in 2023.

• By industry vertical, the energy and utility segment is expected to show the fastest market growth during the SaaS escrow services market forecast period.

• Region-wise, North America held the largest SaaS escrow services market share in 2023. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period.

The key players profiled in the SaaS escrow services market analysis are C Ardas Group, Escrow London, EscrowTech International, Inc., Harbinger Escrow, NCC Group, Iron Mountain, Escrow4all, Praxis Technology Escrow, SES-Escrow, Innovasafe, Inc., Vaultinum, Escrow Alliance, National Software Escrow, Inc., RegistraSoft, Lincoln-Parry SoftEscrow, Inc., APP – Agence Pour La Protection Des Programmes, Codekeeper, Escrow Europe, Legal Escrow & Arbitration Services Limited, Escrow Global. These players have adopted various strategies to increase their market penetration and strengthen their position in SaaS escrow services industry.