Saudi Arabia Software as a Service Market is Predicted to Expand at a Significant CAGR during forecast period 2020-2027 | Research Report Growth

Saudi Arabia Software as A Service Market

The Saudi Arabia Software as A Service Market is expected to grow at a higher CAGR over the forecast period (2020-2027).

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The factors driving growth of the Saudi Arabia Software as A Service Market includes Government initiatives supporting the adoption of cloud computing, increasing focus on reducing the dependency on the oil sector, rising n umber of start-ups and improvements in the living standards. As per the Cloud First Policy launched by Government of Saudi Arabia, it aims to boosting the deployment of Cloud computing services of Governmental entities, while making new IT investment decisions, which is expected to accelerate the Saudi Arabia Software as A Service Market Growth in coming years. Moreover, software as a service offer benefits such as enhanced scalability and compatibility, minimizes hardware and software license costs, and saves the time spent on installation and configuration, which are predicted to generate tremendous growth opportunities in the near future. In addition, the increasing investments by leading players on research and development, rise in the number of data centers across Saudi Arabia, strategic alliances and partnerships between major companies and growing population growth rates, are further contributing to the market growth.

However, growth of the Saudi Arabia Software as A Service Market is hindered due to rising concerns related to data security.

The major players operating in the market are SolutionDot, Oracle Corporation, Cisco Systems, Inc., Amazon Web Services Inc., IBM Corporation, Microsoft Corporation, SAP SE, Infor, Inc., Salesforce.com, Inc., and VMware, Inc., among others.

Based on Application, the Human Resource Management (HRM) segment is predicted to capture the largest market share during the forecast period

Software as service solutions helps human resource manager to increase employee's productivity and is increasingly used in routine tasks such as employee attendance management, notices & announcements, and recruitment, are some of the factors pushing growth of the segment.

Based on Deployment Type, the Public Cloud segment is projected to expand at a remarkable CAGR over the forecast period

As per the Saudi Arabia Software as A Service Market Forecast, public cloud-based deployments are easy to set-up, increases security, don't require maintenance, and offers high flexibility, are some of the features propelling the segment's growth. 

Based on Organization Size, the Small and Medium Enterprises segment is anticipated to grow at a significant CAGR during the forecast period

Small and medium sized organizations are increasingly adopting software as a service solution because it eliminates hardware & software costs, don't require licensing costs, enhances scalability and are easy to integrate.

Key Developments

In 2019, Oracle Corporation introduced three data centers in GCC countries, including one in UAE and two in Saudi Arabia. This expansion is a part of their "in-country" dual region strategy to assist their clients in addressing tragedy recovery and compliance requirements and increasing the footprint for Microsoft Azure interconnect.

Market Segmentation

Segmentation by End-User

Manufacturing
Healthcare
IT & Telecom
Retail
Education
Government
BFSI
Oil & Gas

Segmentation by Application

Customer Relationship Management (CRM)
Human Resource Management (HRM)
Financial Management
Sales Management
Enterprise Resource Planning (ERP)
Supply Chain Management

Segmentation by Deployment Type

Public Cloud
Private Cloud
Hybrid Cloud

Segmentation by Organization Size

Small and Medium Enterprises
Large Enterprises

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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