{"id":70066,"date":"2026-07-24T10:19:36","date_gmt":"2026-07-24T08:19:36","guid":{"rendered":"https:\/\/techma.bakertilly.es\/?post_type=informes&#038;p=70066"},"modified":"2026-07-24T10:20:35","modified_gmt":"2026-07-24T08:20:35","slug":"saas-sector-report-2026","status":"publish","type":"informes","link":"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/","title":{"rendered":"SaaS Sector Report 2026"},"content":{"rendered":"<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<div class=\"wp-block-pdfemb-pdf-embedder-viewer\"><a href=\"https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2026\/07\/MR_SaaSPDF-1_merged_compressed.pdf\" class=\"pdfemb-viewer\" style=\"\" data-width=\"max\" data-height=\"max\" data-toolbar=\"top\" data-toolbar-fixed=\"on\">MR_SaaSPDF-1_merged_compressed<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Contents\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#Mercado_de_Software_como_Servicio_en_2026\" >The Software as a Service Market in 2026<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#El_mercado_SaaS_encadena_un_record_de_operaciones_M_A_camino_a_los_800000_millones\" >The SaaS market has set a new record for M&amp;A deals, heading towards 800,000 million<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#%C2%BFQue_incluye_el_mercado_SaaS\" >What does the SaaS market encompass?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#Las_seis_tendencias_que_estan_redefiniendo_el_SaaS_en_2026\" >The six trends that are redefining SaaS in 2026<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#Reprecio_de_la_IA_y_migracion_del_modelo_de_asiento\" >AI re-pricing and migration of the posting model<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#Compresion_de_margenes_por_costes_de_inferencia\" >Margin squeeze due to inference costs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#El_%C2%ABSaaSpocalypse%C2%BB_y_el_de-rating_bursatil\" >The \u2018SaaSpocalypse\u2019 and the stock market downgrade<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#Vertical_SaaS_con_fintech_embebida\" >Vertical SaaS with embedded fintech<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#Consolidacion_de_proveedores_y_bundling_de_plataformas\" >Supplier consolidation and platform bundling<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#Digitalizacion_regulatoria_global\" >Global regulatory digitalisation<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#M_A_y_financiacion_en_el_sector_SaaS_las_cifras_de_2025-2026\" >M&amp;A and funding in the SaaS sector: the figures for 2025\u20132026<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#Prevision_de_crecimiento_del_mercado_SaaS_hasta_2030\" >SaaS market growth forecast up to 2030<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#%C2%BFQue_significa_esto_si_estas_valorando_vender_tu_empresa_SaaS\" >What does this mean if you\u2019re considering selling your SaaS company?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#Market_Research_del_mercado_Global_de_SaaS\" >Market Research on the Global SaaS Market<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#Preguntas_frecuentes_sobre_el_sector_Software_as_a_Service_SaaS_en_Espana\" >Preguntas frecuentes sobre el sector Software as a Service (SaaS) en Espa\u00f1a<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#%C2%BFQue_se_considera_exactamente_una_empresa_SaaS\" >What exactly is a SaaS company?+<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#%C2%BFPor_que_han_caido_tanto_los_multiplos_de_las_empresas_SaaS_cotizadas\" >Why have the valuations of listed SaaS companies fallen so sharply?+<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#%C2%BFQuien_compra_mas_empresas_SaaS_ahora_mismo\" >Who is buying the most SaaS companies at the moment?+<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#%C2%BFComo_esta_afectando_la_inteligencia_artificial_a_los_margenes_del_SaaS\" >How is artificial intelligence affecting SaaS profit margins?+<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/techma.bakertilly.es\/en\/informes\/informe-sector-saas-2026\/#%C2%BFCuanto_va_a_crecer_el_mercado_SaaS_hasta_2030\" >How much will the SaaS market grow by 2030?+<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Mercado_de_Software_como_Servicio_en_2026\"><\/span><strong>The Software as a Service Market in 2026<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Access the form to download the full report and find out about the state of the market, the most significant corporate transactions and the sector\u2019s growth prospects.<\/p>\n\n\n\n<div style=\"height:33px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link wp-element-button\" href=\"#formulariodescarga\"><strong>DOWNLOAD<\/strong><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:33px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"El_mercado_SaaS_encadena_un_record_de_operaciones_M_A_camino_a_los_800000_millones\"><\/span>The SaaS market has set a new record for M&amp;A deals, heading towards 800,000 million<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The SaaS market closed 2025 with 2,698 M&amp;A transactions, <strong>an all-time high and 28 per cent more than in 2024<\/strong>, whilst the first quarter of 2026 maintained this pace with over 620 deals. Our expert advisers in technology M&amp;A have produced a report on this market, featuring data up to June 2026, covering M&amp;A activity, funding rounds and the trends that are redefining the software-as-a-service economy. Private equity now accounts for around 57% of transactions in the sector, and the average stock market valuation has fallen sharply from the highs of 2021.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%C2%BFQue_incluye_el_mercado_SaaS\"><\/span>What does the SaaS market encompass?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">El mercado SaaS agrupa los <a href=\"https:\/\/techma.bakertilly.es\/en\/companies\/enterprise-software\/\" target=\"_blank\" rel=\"noreferrer noopener\">negocios de software<\/a> entregado en la nube bajo modelo de suscripci\u00f3n, y se articula en tres capas diferenciadas. La primera es el SaaS horizontal B2B, que cubre funciones transversales como CRM, ERP, recursos humanos, finanzas o marketing. La segunda es el SaaS vertical B2B, formado por plataformas sectoriales dise\u00f1adas para hosteler\u00eda, salud, construcci\u00f3n o seguros. La tercera capa corresponde a las suscripciones B2C y prosumer, dirigidas directamente al consumidor final o a profesionales independientes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Lo que unifica a las tres capas es el modelo comercial: ingresos recurrentes y entrega multicliente en la nube, frente a otros modelos de negocio tecnol\u00f3gico. Por eso, el informe excluye de forma expl\u00edcita a las consultoras y servicios de TI puros, el desarrollo de software a medida, las licencias <em>on-premises<\/em> heredadas, los negocios centrados en hardware y los marketplaces o <em>pure-plays<\/em> de comercio electr\u00f3nico, cuya econom\u00eda se mide por volumen transaccional y no por ingresos recurrentes. Esta delimitaci\u00f3n es clave para cualquier fundador que se pregunte si su compa\u00f1\u00eda encaja en las valoraciones y m\u00faltiplos que circulan sobre \u00abSaaS\u00bb, ya que confundir categor\u00edas distorsiona las comparativas de mercado.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Las_seis_tendencias_que_estan_redefiniendo_el_SaaS_en_2026\"><\/span>The six trends that are redefining SaaS in 2026<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Reprecio_de_la_IA_y_migracion_del_modelo_de_asiento\"><\/span>AI re-pricing and migration of the posting model<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">El desplazamiento de valor desde el asiento por usuario hacia el consumo, los agentes y los resultados define el bienio 2025-2026. Gartner proyecta que para 2030 al menos el 40% del gasto SaaS empresarial habr\u00e1 migrado a modelos de uso, agente o resultado, con la cuota de ingresos basada en asientos cayendo del 21% al 15%. <strong>Salesforce Agentforce<\/strong> ya super\u00f3 los 800 millones de d\u00f3lares de ARR, con un crecimiento interanual del 169%.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Compresion_de_margenes_por_costes_de_inferencia\"><\/span>Margin squeeze due to inference costs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">El margen bruto superior al 80% que defini\u00f3 a una generaci\u00f3n de negocios cloud se comprime hacia el 52-65% en los productos intensivos en inteligencia artificial. Seg\u00fan ICONIQ, el margen bruto medio de un producto de IA se sit\u00faa en torno al 52% en 2026, con la inferencia consumiendo cerca del 23% de los ingresos en fase de escalado. Este dato es determinante para cualquier <a href=\"https:\/\/techma.bakertilly.es\/en\/business-valuation\/\" target=\"_blank\" rel=\"noreferrer noopener\">proceso de valoraci\u00f3n<\/a>, porque altera de ra\u00edz la lectura tradicional de rentabilidad del SaaS.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"El_%C2%ABSaaSpocalypse%C2%BB_y_el_de-rating_bursatil\"><\/span>The \u2018SaaSpocalypse\u2019 and the stock market downgrade<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Los m\u00faltiplos de SaaS cotizado se han desplomado: <strong>la mediana EV\/Ingresos cay\u00f3 a 3,4x en 2026<\/strong> desde un pico superior a 15x en 2021. En febrero de 2026, alrededor de 285.000 millones de d\u00f3lares de capitalizaci\u00f3n SaaS se evaporaron en 48 horas tras el lanzamiento de Claude Cowork, un veredicto de mercado sobre la credibilidad de los sustitutos de IA a escala.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Vertical_SaaS_con_fintech_embebida\"><\/span>Vertical SaaS with embedded fintech<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Las finanzas integradas est\u00e1n transformando el mix de ingresos de las plataformas verticales l\u00edderes. <strong>Toast<\/strong> genera ya cerca del 80% de sus ingresos de servicios financieros, y a\u00f1adir <a href=\"https:\/\/techma.bakertilly.es\/en\/companies\/fintech\/\" target=\"_blank\" rel=\"noreferrer noopener\">fintech<\/a> al SaaS vertical <strong>eleva el ingreso por cliente entre 2 y 5 veces<\/strong>, frente a una oportunidad estimada de 185.000 millones de d\u00f3lares a\u00fan capturada en menos del 20%.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Consolidacion_de_proveedores_y_bundling_de_plataformas\"><\/span>Supplier consolidation and platform bundling<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Los directores de tecnolog\u00eda est\u00e1n recortando activamente el n\u00famero de proveedores: <strong>el 68% planea consolidar su panorama tecnol\u00f3gico<\/strong>, con un objetivo de reducci\u00f3n cercano al 20%. La era del \u00abre-bundling\u00bb favorece a los grandes suites (Microsoft, Salesforce, SAP, ServiceNow) frente a las soluciones puntuales, lo que presiona a los proveedores nicho a buscar salida v\u00eda M&amp;A.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Digitalizacion_regulatoria_global\"><\/span>Global regulatory digitalisation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Los mandatos de facturaci\u00f3n electr\u00f3nica y reporte digital (ViDA en la UE, CFDI\/NF-e en Latinoam\u00e9rica, GST en India, FATOORA en Arabia Saud\u00ed) fuerzan la adopci\u00f3n de SaaS de cumplimiento con independencia del ciclo macroecon\u00f3mico, actuando como un suelo contra c\u00edclico de la demanda que protege a este segmento incluso en fases de ralentizaci\u00f3n.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"M_A_y_financiacion_en_el_sector_SaaS_las_cifras_de_2025-2026\"><\/span>M&amp;A and funding in the SaaS sector: the figures for 2025\u20132026<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">La actividad de M&amp;A tecnol\u00f3gica repunt\u00f3 con fuerza en 2025: el valor de las operaciones creci\u00f3 m\u00e1s de un 76% hasta los 478.000 millones de d\u00f3lares, y cerca de la mitad del valor de las grandes operaciones estrat\u00e9gicas cit\u00f3 la inteligencia artificial como motivo principal. Dentro de este universo, el subsegmento SaaS cerr\u00f3 2.698 transacciones en 2025, un r\u00e9cord hist\u00f3rico y un 28% m\u00e1s que en 2024, mientras el primer trimestre de 2026 sostuvo el ritmo con m\u00e1s de 620 operaciones.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>private equity se ha consolidado como comprador dominante<\/strong>, presente en cerca del 57% de las operaciones SaaS del primer trimestre de 2026, con los <em>add-ons<\/em> representando alrededor del 72% de su volumen. El <em>dry powder<\/em> acumulado ronda cifras casi r\u00e9cord, lo que presiona el despliegue de capital hacia <em>take-privates<\/em> y roll-ups. Las grandes operaciones de exclusi\u00f3n de cotizaci\u00f3n han dominado el tramo alto del mercado: <strong>Dayforce<\/strong> (12.300 millones de d\u00f3lares, Thoma Bravo), <strong>OneStream<\/strong> (6.400 millones, Hg) y <strong>Smartsheet<\/strong> (8.400 millones, Vista Equity Partners\/Blackstone).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">En paralelo conviven dos l\u00f3gicas de inversi\u00f3n bien diferenciadas. Por un lado, la compra de capacidades a m\u00faltiplos premium, como <strong>Salesforce-Informatica<\/strong> por 8.000 millones de d\u00f3lares o <strong>Google-Wiz<\/strong> por 32.000 millones, justificada por la base instalada que se defiende. Por otro, la consolidaci\u00f3n de SaaS vertical fragmentado, donde compounders como <strong>Roper<\/strong> and <strong>Constellation Software<\/strong> convierten la fragmentaci\u00f3n sectorial en flujo de caja duradero. Europa, estructuralmente infraconsolidada frente a Estados Unidos, se perfila como foco prioritario de estrategias de buy-and-build en los pr\u00f3ximos a\u00f1os.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prevision_de_crecimiento_del_mercado_SaaS_hasta_2030\"><\/span>SaaS market growth forecast up to 2030<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">El consenso a medio y largo plazo sit\u00faa al SaaS global en una senda hacia los 800.000 millones de d\u00f3lares; 1,5 billones de d\u00f3lares para principios y mediados de la d\u00e9cada de 2030, con una horquilla tan amplia impulsada por la propia definici\u00f3n de mercado utilizada en cada estudio. La s\u00edntesis m\u00e1s defensible para una tesis de inversi\u00f3n pasa por <strong>modelar un CAGR base del 13-15% sobre el n\u00facleo del mercado<\/strong>, con potencial alcista ligado al reprecio de la IA y riesgo bajista asociado a la compresi\u00f3n de ingresos por asiento.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">En el escenario base, desde aproximadamente 400.000 millones de d\u00f3lares en 2025, un CAGR del 13-15% conduce a cerca de 800.000 millones en 2030, en l\u00ednea con la proyecci\u00f3n de Grand View Research de 819.000 millones. En el escenario alcista, con un CAGR del 18-20%, el mercado cruzar\u00eda el bill\u00f3n de d\u00f3lares antes de 2030 si los agentes de IA impulsan gasto neto nuevo y el <em>outcome pricing<\/em> ampl\u00eda el TAM. Por geograf\u00edas, Asia-Pac\u00edfico se perfila como la regi\u00f3n de mayor crecimiento, con un CAGR cercano al 14,3% e India en trayectoria hacia 50.000 millones de d\u00f3lares de ARR para 2030, multiplicando por cuatro su base actual. Por tipolog\u00eda, el SaaS vertical crece en torno al 31% frente al 28% del horizontal, con primas de valoraci\u00f3n del 25-30% para los activos con NRR superior al 115% y fintech embebida.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%C2%BFQue_significa_esto_si_estas_valorando_vender_tu_empresa_SaaS\"><\/span>What does this mean if you\u2019re considering selling your SaaS company?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Los datos del informe apuntan a un mercado en plena redefinici\u00f3n: menos apetito por el m\u00faltiplo generalista y m\u00e1s prima para los activos verticales con ingresos recurrentes s\u00f3lidos, fintech embebida y retenci\u00f3n de cliente por encima del 115% de NRR. Antes de salir al mercado, conviene entender en qu\u00e9 capa del SaaS encaja tu compa\u00f1\u00eda, c\u00f3mo se est\u00e1 comportando tu margen bruto frente a la nueva referencia de la IA, y qu\u00e9 comprador (private equity, comprador estrat\u00e9gico o compounder sectorial) encaja mejor con tu perfil.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">En Baker Tilly Tech M&amp;A Advisors ayudamos a fundadores y equipos directivos de empresas SaaS a <a href=\"https:\/\/techma.bakertilly.es\/en\/exit-readiness\/\" target=\"_blank\" rel=\"noreferrer noopener\">preparar su proceso de venta<\/a> y a entender el valor real de su compa\u00f1\u00eda en el contexto actual del mercado.<\/p>\n\n\n\n<hr id=\"formulariodescarga\" style=\"max-width:100%;\">\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>Market Research<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Market_Research_del_mercado_Global_de_SaaS\"><\/span>Market Research on the Global SaaS Market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Download the full report here and stay informed about the financial status and latest news of the most important companies in the market.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--2\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2026\/07\/MR_SaaSPDF_compressed.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>DOWNLOAD<\/strong><\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"600\" height=\"410\" src=\"https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2026\/07\/mockup-bt-saas-removebg-preview_WEBP.webp\" alt=\"\" class=\"wp-image-70079\" title=\"\" srcset=\"https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2026\/07\/mockup-bt-saas-removebg-preview_WEBP.webp 600w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2026\/07\/mockup-bt-saas-removebg-preview_WEBP-480x328.webp 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 600px, 100vw\" \/><\/figure>\n<\/div>\n<\/div>\n\n\n\n<hr id=\"formulariodescarga\" style=\"max-width:100%;\">\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Preguntas_frecuentes_sobre_el_sector_Software_as_a_Service_SaaS_en_Espana\"><\/span>Preguntas frecuentes sobre el sector Software as a Service (SaaS) en Espa\u00f1a<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div data-wp-context=\"{ &quot;autoclose&quot;: false, &quot;accordionItems&quot;: [] }\" data-wp-interactive=\"core\/accordion\" role=\"group\" class=\"wp-block-accordion is-layout-flow wp-block-accordion-is-layout-flow\">\n<div data-wp-class--is-open=\"state.isOpen\" data-wp-context=\"{ &quot;id&quot;: &quot;accordion-item-3&quot;, &quot;openByDefault&quot;: false }\" data-wp-init=\"callbacks.initAccordionItems\" data-wp-on-window--hashchange=\"callbacks.hashChange\" class=\"wp-block-accordion-item is-layout-flow wp-block-accordion-item-is-layout-flow\">\n<h3 class=\"wp-block-accordion-heading\"><button aria-expanded=\"false\" aria-controls=\"accordion-item-3-panel\" data-wp-bind--aria-expanded=\"state.isOpen\" data-wp-on--click=\"actions.toggle\" data-wp-on--keydown=\"actions.handleKeyDown\" id=\"accordion-item-3\" type=\"button\" class=\"wp-block-accordion-heading__toggle\"><span class=\"wp-block-accordion-heading__toggle-title\">\u00bfQu\u00e9 se considera exactamente una empresa SaaS?<\/span><span class=\"wp-block-accordion-heading__toggle-icon\" aria-hidden=\"true\">+<\/span><\/button><\/h3>\n\n\n\n<div inert aria-labelledby=\"accordion-item-3\" data-wp-bind--inert=\"!state.isOpen\" id=\"accordion-item-3-panel\" role=\"region\" class=\"wp-block-accordion-panel is-layout-flow wp-block-accordion-panel-is-layout-flow\">\n<p class=\"wp-block-paragraph\">Se considera SaaS a los negocios de software en la nube con modelo de suscripci\u00f3n e ingresos recurrentes, ya sean horizontales (CRM, ERP, RR.HH.), verticales (plataformas sectoriales) o de suscripci\u00f3n B2C. Quedan fuera las consultoras TI, el desarrollo a medida, las licencias on-premise, los negocios de hardware y los marketplaces de comercio electr\u00f3nico, cuya econom\u00eda depende del volumen transaccional y no de la recurrencia de ingresos.<\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<div data-wp-context=\"{ &quot;autoclose&quot;: false, &quot;accordionItems&quot;: [] }\" data-wp-interactive=\"core\/accordion\" role=\"group\" class=\"wp-block-accordion is-layout-flow wp-block-accordion-is-layout-flow\">\n<div data-wp-class--is-open=\"state.isOpen\" data-wp-context=\"{ &quot;id&quot;: &quot;accordion-item-4&quot;, &quot;openByDefault&quot;: false }\" data-wp-init=\"callbacks.initAccordionItems\" data-wp-on-window--hashchange=\"callbacks.hashChange\" class=\"wp-block-accordion-item is-layout-flow wp-block-accordion-item-is-layout-flow\">\n<h3 class=\"wp-block-accordion-heading\"><button aria-expanded=\"false\" aria-controls=\"accordion-item-4-panel\" data-wp-bind--aria-expanded=\"state.isOpen\" data-wp-on--click=\"actions.toggle\" data-wp-on--keydown=\"actions.handleKeyDown\" id=\"accordion-item-4\" type=\"button\" class=\"wp-block-accordion-heading__toggle\"><span class=\"wp-block-accordion-heading__toggle-title\">\u00bfPor qu\u00e9 han ca\u00eddo tanto los m\u00faltiplos de las empresas SaaS cotizadas?<\/span><span class=\"wp-block-accordion-heading__toggle-icon\" aria-hidden=\"true\">+<\/span><\/button><\/h3>\n\n\n\n<div inert aria-labelledby=\"accordion-item-4\" data-wp-bind--inert=\"!state.isOpen\" id=\"accordion-item-4-panel\" role=\"region\" class=\"wp-block-accordion-panel is-layout-flow wp-block-accordion-panel-is-layout-flow\">\n<p class=\"wp-block-paragraph\">La mediana EV\/Ingresos del SaaS cotizado cay\u00f3 a 3,4x en 2026 desde un pico superior a 15x en 2021, en lo que el mercado ha bautizado como \u00abSaaSpocalypse\u00bb. El detonante m\u00e1s reciente fue la p\u00e9rdida de unos 285.000 millones de d\u00f3lares de capitalizaci\u00f3n en 48 horas tras el lanzamiento de Claude Cowork en febrero de 2026, que el mercado interpret\u00f3 como una se\u00f1al de credibilidad de los sustitutos basados en IA.<\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<div data-wp-context=\"{ &quot;autoclose&quot;: false, &quot;accordionItems&quot;: [] }\" data-wp-interactive=\"core\/accordion\" role=\"group\" class=\"wp-block-accordion is-layout-flow wp-block-accordion-is-layout-flow\">\n<div data-wp-class--is-open=\"state.isOpen\" data-wp-context=\"{ &quot;id&quot;: &quot;accordion-item-5&quot;, &quot;openByDefault&quot;: false }\" data-wp-init=\"callbacks.initAccordionItems\" data-wp-on-window--hashchange=\"callbacks.hashChange\" class=\"wp-block-accordion-item is-layout-flow wp-block-accordion-item-is-layout-flow\">\n<h3 class=\"wp-block-accordion-heading\"><button aria-expanded=\"false\" aria-controls=\"accordion-item-5-panel\" data-wp-bind--aria-expanded=\"state.isOpen\" data-wp-on--click=\"actions.toggle\" data-wp-on--keydown=\"actions.handleKeyDown\" id=\"accordion-item-5\" type=\"button\" class=\"wp-block-accordion-heading__toggle\"><span class=\"wp-block-accordion-heading__toggle-title\">\u00bfQui\u00e9n compra m\u00e1s empresas SaaS ahora mismo?<\/span><span class=\"wp-block-accordion-heading__toggle-icon\" aria-hidden=\"true\">+<\/span><\/button><\/h3>\n\n\n\n<div inert aria-labelledby=\"accordion-item-5\" data-wp-bind--inert=\"!state.isOpen\" id=\"accordion-item-5-panel\" role=\"region\" class=\"wp-block-accordion-panel is-layout-flow wp-block-accordion-panel-is-layout-flow\">\n<p class=\"wp-block-paragraph\">El private equity es el comprador dominante, presente en cerca del 57% de las operaciones SaaS del primer trimestre de 2026, con los add-ons representando alrededor del 72% de su volumen. Conviven junto a \u00e9l compradores estrat\u00e9gicos que pagan m\u00faltiplos premium por capacidades concretas, como Google en su adquisici\u00f3n de Wiz por 32.000 millones de d\u00f3lares, y compounders especializados en consolidar SaaS vertical fragmentado.<\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<div data-wp-context=\"{ &quot;autoclose&quot;: false, &quot;accordionItems&quot;: [] }\" data-wp-interactive=\"core\/accordion\" role=\"group\" class=\"wp-block-accordion is-layout-flow wp-block-accordion-is-layout-flow\">\n<div data-wp-class--is-open=\"state.isOpen\" data-wp-context=\"{ &quot;id&quot;: &quot;accordion-item-6&quot;, &quot;openByDefault&quot;: false }\" data-wp-init=\"callbacks.initAccordionItems\" data-wp-on-window--hashchange=\"callbacks.hashChange\" class=\"wp-block-accordion-item is-layout-flow wp-block-accordion-item-is-layout-flow\">\n<h3 class=\"wp-block-accordion-heading\"><button aria-expanded=\"false\" aria-controls=\"accordion-item-6-panel\" data-wp-bind--aria-expanded=\"state.isOpen\" data-wp-on--click=\"actions.toggle\" data-wp-on--keydown=\"actions.handleKeyDown\" id=\"accordion-item-6\" type=\"button\" class=\"wp-block-accordion-heading__toggle\"><span class=\"wp-block-accordion-heading__toggle-title\">\u00bfC\u00f3mo est\u00e1 afectando la inteligencia artificial a los m\u00e1rgenes del SaaS?<\/span><span class=\"wp-block-accordion-heading__toggle-icon\" aria-hidden=\"true\">+<\/span><\/button><\/h3>\n\n\n\n<div inert aria-labelledby=\"accordion-item-6\" data-wp-bind--inert=\"!state.isOpen\" id=\"accordion-item-6-panel\" role=\"region\" class=\"wp-block-accordion-panel is-layout-flow wp-block-accordion-panel-is-layout-flow\">\n<p class=\"wp-block-paragraph\">El margen bruto superior al 80% caracter\u00edstico del SaaS tradicional se comprime hacia el 52-65% en los productos intensivos en IA, seg\u00fan datos de ICONIQ para 2026. La inferencia consume cerca del 23% de los ingresos en fase de escalado, lo que obliga a revisar los modelos de valoraci\u00f3n que asum\u00edan m\u00e1rgenes estructuralmente altos como rasgo distintivo del modelo SaaS.<\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<div data-wp-context=\"{ &quot;autoclose&quot;: false, &quot;accordionItems&quot;: [] }\" data-wp-interactive=\"core\/accordion\" role=\"group\" class=\"wp-block-accordion is-layout-flow wp-block-accordion-is-layout-flow\">\n<div data-wp-class--is-open=\"state.isOpen\" data-wp-context=\"{ &quot;id&quot;: &quot;accordion-item-7&quot;, &quot;openByDefault&quot;: false }\" data-wp-init=\"callbacks.initAccordionItems\" data-wp-on-window--hashchange=\"callbacks.hashChange\" class=\"wp-block-accordion-item is-layout-flow wp-block-accordion-item-is-layout-flow\">\n<h3 class=\"wp-block-accordion-heading\"><button aria-expanded=\"false\" aria-controls=\"accordion-item-7-panel\" data-wp-bind--aria-expanded=\"state.isOpen\" data-wp-on--click=\"actions.toggle\" data-wp-on--keydown=\"actions.handleKeyDown\" id=\"accordion-item-7\" type=\"button\" class=\"wp-block-accordion-heading__toggle\"><span class=\"wp-block-accordion-heading__toggle-title\">\u00bfCu\u00e1nto va a crecer el mercado SaaS hasta 2030?<\/span><span class=\"wp-block-accordion-heading__toggle-icon\" aria-hidden=\"true\">+<\/span><\/button><\/h3>\n\n\n\n<div inert aria-labelledby=\"accordion-item-7\" data-wp-bind--inert=\"!state.isOpen\" id=\"accordion-item-7-panel\" role=\"region\" class=\"wp-block-accordion-panel is-layout-flow wp-block-accordion-panel-is-layout-flow\">\n<p class=\"wp-block-paragraph\">El consenso apunta a un mercado global de entre 800.000 millones y 1,5 billones de d\u00f3lares hacia inicios-mediados de la d\u00e9cada de 2030, con un CAGR base del 13-15%. El SaaS vertical crece m\u00e1s r\u00e1pido que el horizontal (31% frente a 28%), y Asia-Pac\u00edfico es la regi\u00f3n con mayor proyecci\u00f3n de crecimiento, con India camino de los 50.000 millones de d\u00f3lares de ARR en 2030.<\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>","protected":false},"author":4,"featured_media":70067,"menu_order":0,"template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":""},"tags":[],"sectores":[2212],"class_list":["post-70066","informes","type-informes","status-publish","has-post-thumbnail","hentry","sectores-enterprise-software"],"acf":[],"_links":{"self":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/informes\/70066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/informes"}],"about":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/types\/informes"}],"author":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/users\/4"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/media\/70067"}],"wp:attachment":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/media?parent=70066"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/tags?post=70066"},{"taxonomy":"sectores","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/sectores?post=70066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}