From DevOps Dictionary

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SaaS is an abbreviation for 'Software as a Service', a model in which consumers of a software application connect to it via the network (typically either with a web browser, or programmatically using a web service), make requests, and receive results.All application hosting and configuration is handled by the service provider and are opaque to the user.

SaaS pricing models vary, but are typically usage-based.

Within DevOps, many components of a DevOps Toolchain may be used as SaaS. For example, Continuous Integration and Data Visualization may be provided via SaaS.