In 2019, Software as a Service generated $159 billion U.S. dollars market revenue worldwide, accounting for approximately two-thirds of the total revenue generated by cloud computing. The valuation of software companies, tracked by the Emerging Cloud index, outperformed Nasdaq all year, especially accelerating after the pandemic outbreak. Over the past five years the global SaaS market tripled in value to an estimated $159 billion U.S. dollars and is expected to reach $307 billion U.S. dollars by 2026, at a CAGR of 11.7%.