The global software industry is shifting towards the software-as-a-service (SAAS) model of cloud computing, which is characterized by ease of use, low cost, and flexible scalability. SAAS software companies have a faster growth rate than traditional software companies, and capital markets are more willing to give them relatively higher valuations. Globally there are hundreds of SAAS software companies that have developed and gone public successfully, especially in the United States, with very high valuations on the average. However, there are still major gaps in the number，scale and valuation of SAAS software companies listed in China even though they also have entered the development stage . The technological and business frameworks of the Chinese SAAS software industry have basically taken shape in recent years, and more and more enterprise customers have begun to realize the cost reduction and efficiency improvement brought about by the subscription-based software. The whole industry faces both opportunities and challenges at once. This study aims to identify the factors of sustainable development for SAAS software companies on a global scale, from a unique innovative perspective on their customer structure. It also compares and contrasts the similarities and differences of target markets between the SAAS software industry in China and that in the United States, and it analyzes the current situation and development trends of the SaaS software industry in China in order to propose novel viewpoints. It is hoped that this study can provide significant practical guidance for entrepreneurs engaged in the SAAS software domain in their strategic decision-making, can serve as a valuable benchmark for investors in their selection of investment targets and valuation analysis in the SAAS software field, and can offer unique reference value for related institutions in formulating their policies for the development of the SAAS software industry.