Growth Opportunities in the Saudi Arabia Software as a Service Market look promising over the next six years. This is mainly due to the growing focus of the Saudi Arabian government towards strengthening the non-oil industry, growing focus on the IT infrastructure, and the rapid social infrastructural development.
Saudi Arabia Software as a Service Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The growing focus of the Saudi Arabian government towards strengthening the non-oil industry and the rapid social infrastructural development in the nation are the key drivers contributing to the growth of the Saudi Arabia software as a service market. Saudi Arabia declared its Cloud-First Policy in 2019 to promote the public industry to drastically shifting from traditional IT solutions to cloud-based solutions for enhanced security, agility, innovation, and reliability. These initiatives will attract investments into the Software as a Service market, thus enhancing the demand of the market in Saudi Arabia. Furthermore, the government has introduced various digital initiatives, such as the Saudi Arabia Vision 2030, which emphasizes strengthening the country’s IT infrastructure. The growing focus on the IT infrastructure will encourage the adoption of SaaS applications, thus boosting the growth of the Saudi Arabia software as a service market during the forecast period.
SaaS provides exceptional advantages, including decreasing software and hardware license costs, reducing the time spent in installation and configuration, followed by enhanced compatibility, scalability, and accessibility. Numerous multinational organizations like Amazon Web Service and Google are planning to set-up their data centers in the Middle East region to increase their global footprints, which in turn, will open doors for the growth of the market. However, the increasing data security concerns and complexity with regulations compliance are the factors that hinder the growth of the Saudi Arabia Software as a Service market in the coming years.
Deployment Type Segment Drivers
Based on the deployment type, the public cloud is anticipated to grow at a higher CAGR in the coming years due to the increasing expenditure by the government and telecom operators on infrastructure improvement. Public cloud provides various advantages like low maintenance, cost-effectiveness, quick to integrate and set-up, and improves security. It also offers high flexibility without redundancy, followed by negligible downtime and reduce risk.
Saudi Arabia Software as a Service Market’s leading Manufacturers:
- IBM Corporation
- Microsoft Corporation
- SAP SE
- Oracle Corporation
- Cisco Systems, Inc.
- Amazon Web Services, Inc.
- Infor, Inc.
- com, Inc.
- VMware, Inc.
- SolutionDot
Saudi Arabia Software as a Service 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 Organisation Size:
- Small and Medium Size Enterprises
- Large Enterprises
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