Definition - What does Hosted Software mean?
Hosted software is hosted and managed by the software manufacturer or a third-party vendor. Users can access it globally through the Internet.
Hosted software is also known as software as a service (SaaS), a cloud computing service model.
Techopedia explains Hosted Software
Generally, hosted software is provided as a service to end users, who are billed monthly on pay-per-use or per-license fee billing method. Because all programs are installed at a provider’s location, they are managed, upgraded and patched by the provider, ensuring that users always have access to updated, bug-free versions of the software they use.