Saudi Arabia Software as a Service Market Competition Forecast & Opportunities, 2028

Saudi Arabia Software as a Service Market is anticipated to grow at a high CAGR in the forecast period 2024-2028

The Saudi Arabia Software as a Service 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.

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.

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

• Marketing
• Customer Relationship Management
• Business Operations
• Finance
• Database Management
• Enterprise Resource Planning
• Others

Saudi Arabia Software as a Service Market, by Offering

• Horizontal SaaS
• Vertical SaaS

Saudi Arabia Software as a Service Market, by Organization Size

• Large Enterprises
• SMEs

Saudi Arabia Software as a Service Market, by Deployment

• Cloud
• On-Premises

Saudi Arabia Software as a Service Market, by End User

• Manufacturing
• Healthcare
• IT & Telecom
• Retail
• Education
• BFSI
• Others

Saudi Arabia Software as a Service Market, by Region:

• Western Region
• Northern & Central Region
• Eastern Region
• Southern Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia Software as a Service Market.

Available Customizations

The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.