Saudi Arabia Software as a Service (SaaS) Market is
anticipated to grow at a high CAGR in the forecast period 2024-2028. The inception of messaging applications, emails, and video
calls have made end-users depend on smartphones or their personnel laptop, more
than ever. Therefore, users are looking for remote access at reasonable costs,
which maintains their privacy, and therefore. These factors are driving the Saudi
Arabia Software as a Service Market for the forecast period. Additionally, the growing usage of
mobile applications for food delivery, payments, navigating map, booking ride,
and healthcare services is likely to boost the demand for Software as a Service-based
mobile apps across the country. The growing trend of corporate outsourcing and
globalization is driving businesses to expand, in order to meet rising client
demand. However, growing data security concerns and onerous regulatory
compliance may hamper the market's growth.
Software as a Service (SaaS)
is a distribution model for delivering software applications via a web browser.
Customers can access offerings over the internet that are hosted by a
third-party service provider. SaaS is a component of cloud computing that offer
users the advantage of flexible use regardless of location and does not require
local installation. Like other cloud services, companies typically pay a
monthly or annual fee for SaaS applications. SaaS providers usually charge for
applications based on certain usage parameters, such as the number of people
using the applications or the number of transactions.
The market is witnessing
growth due to the constantly increasing demand for software services from all
sectors. Additionally, the increasing emphasis on digital adoption by the
government and awareness of key benefits like increased convenience and
cost-saving by adopting software for numerous organizations would further lead
to significant growth in the adoption of SaaS across the country. The major service providers
deliver a modern service suite that can drive business innovation by enabling
faster innovation, superior customer experiences, and better business decisions
through built-in analytics and a holistic view of the entire business of SaaS.
Along with SaaS, the top companies offer services such as management capability
enhancement and professional deployment, thereby meeting the demands of
business and senior management. Saudi Arabia Software as a Service Market is
the most promising industry for the country's future, given the scope of
dynamic and constantly updating technology.
Adoption of Subscription Based Services is
Driving the Market in the Forecast Period
Digital subscription services have the
advantages of convenience factor and cost-saving, which have led to a rise in
the use of several software services such as Salesforce, Cisco WebEx, SAP
Concur, etc. Moreover, business applications are becoming a more prevalent
choice for branch offices and other facilities, with a shortage of IT staff
among large multinational corporations. Large enterprises with no data security
concerns and the necessary infrastructure or resources, host subscription
services within their firewall capabilities. SaaS
applications do not have a license fee as they are subscription-based, which
lowers the initial outlay. Furthermore, because the Software as a Service
provider manages the IT infrastructure, IT costs for hardware, software, and
resources are significantly lower. Therefore, subscription services are driving
the Saudi Arabia Software as a Service Market.
Rising Need for Data Backup
and Recovery is Fuelling the Market Growth
Using the Software as a
Service model, software applications are hosted in the cloud, eradicating the
need for local storage. Data is stored in multiple data centres to ensure that
if one fails, the other data centre can continue to provide the service.
Additionally, Software as a Service solutions eliminate the time-consuming
process of performing weekly backups by initiating automatic backups without
user input, assuring the integrity of business data. Additionally, the model
allows for simultaneous remote use by numerous users, resulting in more
reliable and secure data backups and recovery, driving the Saudi Arabia Software
as a Service Market.
Growing Bypassing of
Internal IT Departments is Pushing the Market Growth
SaaS has helped replace an
internal IT model in which technicians directly employed by a company tend to modify
elements of its software architecture as required. SaaS solutions have helped
customers free up their technical staff, focusing on more strategic
infrastructure investments.
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Market Segments
The
Saudi Arabia Software as a Service market is segmented into Business
Application, Offering, Organization Size, Deployment, End User and Region. Based
on Business Application, the market is segmented into Marketing, Customer
Relationship Management, Business Operations, Finance, Database Management,
Enterprise Resource Planning and Others. Based on Offering, the market is
divided into Horizontal SaaS and Vertical SaaS. Based on Organization Size, the
market is separated into Large Enterprises and SMEs. Based on Deployment, the
market is segmented into Cloud and On-Premises. Based on End User, the market
is fragmented into Manufacturing, Healthcare, IT & Telecom, Retail, Education,
BFSI, and Others. The market analysis also studies the regional segmentation to
devise regional market segmentation, divided among Western Region, Northern
& Central Region, Eastern Region and Southern Region.
Market Players
Major
market players of Saudi Arabia
Software as a Service Market are AWS Middle East, Cisco
Saudi Arabia Limited Company, Infor Saudi Company Limited, Saudi Business
Machines Ltd. (SBM), Microsoft Arabia, Oracle Saudi Arabia, Mind Digital Group
(Salesforce), SAP Saudi Arabia Software Services Limited, SolutionDots Systems
(Saudi Arabia), VMware Saudi Limited To achieve
good market growth, businesses that are active in the market employ organic
tactics such as product launches, mergers, and partnerships.
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 –
2021
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Estimated Year
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2023
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Forecast Period
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2024
– 2028
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Quantitative Units
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Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
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Report coverage
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Revenue
forecast, company share, growth factors, and trends
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Segments covered
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Business Application
Offering
Organization Size
Deployment
End User
Region
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Regional scope
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Western
Region, Northern & Central Region, Eastern Region, Southern Region
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|
Key companies profiled
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AWS Middle East, Cisco Saudi Arabia Limited Company, Infor
Saudi Company Limited, Saudi Business Machines Ltd. (SBM), Microsoft Arabia, Oracle
Saudi Arabia, Mind Digital Group (Salesforce), SAP Saudi Arabia Software
Services Limited, SolutionDots Systems (Saudi Arabia), VMware Saudi Limited
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Customization scope
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10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
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|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel
through Email (We can also provide the editable version of the report in PPT/Word
format on special request)
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Report Scope:
In this report, Saudi Arabia Software as a Service Market has been
segmented into following categories, in addition to the industry trends which
have also been detailed below:
- Saudi Arabia Software as a Service Market, By Business
Application
o
Marketing
o
Customer Relationship Management
o
Business Operations
o
Finance
o
Database Management
o
Enterprise Resource Planning
o Others
- Saudi Arabia Software as a Service Market, By Offering
o Horizontal
SaaS
o Vertical
SaaS
- Saudi Arabia Software as a Service Market, By
Organization Size
o Large
Enterprises
o SMEs
- Saudi Arabia Software as a Service Market, By Deployment
o Cloud
o On-Premises
- Saudi Arabia Software as a Service Market, By End User
o Manufacturing
o Healthcare
o IT &
Telecom
o Retail
o Education
o BFSI
o Others
- Saudi Arabia Software as a Service Market, By Region:
o
Western Region
o
Northern & Central Region
o
Eastern Region
o
Southern Region
Competitive Landscape
Company Profiles: Detailed analysis of the
major companies present in Saudi Arabia
Software as a Service Market
Available Customizations:
Saudi Arabia Software as a Service Market with the
given market data, Tech Sci Research offers customizations according to a
company’s specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Saudi Arabia Software as a Service Market is an upcoming report to be released soon. If you wish an early delivery
of this report or want to confirm the date of release, please contact us at [email protected]