Kenneth Research released a report on Middle East and Africa Software-as-a-Service (SaaS) Market consisting of detailed analysis of the market and industry insights over the forecast period of 2022-2031. The latest trends and business opportunities in the market are discussed in the report on the basis of analysis of the market value and calculation of the CAGR during the forecast period. The market is anticipated to grow at a significant CAGR over the forecast period.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Middle East and Africa Software-as-a-Service (SaaS) Market Products.
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As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Middle East and Africa software-as-a-service (SaaS) market
Software-as-a-service (SaaS) is a kind of cloud computing in which a third-party provider manages applications and makes them accessible to consumers over the internet. It removes the need for organisations to install and run applications on their computers or in their data centres, which eliminates the cost of hardware acquisition, provisioning and maintenance, as well as software licensing, installation and support. The Software as a service market is anticipated to grow at a compound annual growth rate (CAGR) of 18.25% during the forecast period 2018-2023.
Based on the deployment model, the SaaS market can be segmented into public cloud, private cloud and hybrid cloud. The private cloud and public cloud models are showing a positive trend in the market, and the companies are trying to employ the hybrid cloud model in the recent future. The public cloud market has the largest market share, whereas the hybrid cloud market is predicted to grow at the highest CAGR.
Depending on application, the SaaS market can be bifurcated into enterprise resource planning (ERP), customer relationship management (CRM), human resource management (HRM), supply chain management (SCM), and others. Other application types include web conferencing platforms, messaging applications and collaborations. HRM has the largest market share and is also predicted to have the highest growth rate in the forecast period.
By vertical, the SaaS market can be segmented into banking, financial services and insurance (BFSI), information technology (IT) and telecommunication, manufacturing, retail, healthcare, education and others. The BFSI segment continues to hold the largest market share in the vertical segment, and the manufacturing segment will be growing at a significant rate during the forecast period.
The United Arab Emirates (UAE) and Saudi Arabia is experiencing a growth in new data centers and service partnerships, which is pushing the local firms to embrace the adoption of SaaS.
Key growth factors
African enterprises are experiencing a rapid migration towards application programming interfaces and micro-services which enables the creation of interfaces between two software to allow the users to access additional features. The SaaS solution comes incorporated with an open application programming interface (API) that takes care of these features. The SaaS API is also designed to create software packages that keep the line of communication in the inner office open.
Threats and key players
SaaS deployments in African organizations are tough because the firms lack maturity and industries that have more than a dozen players are rare. Businesses have a poor customer base and most of the products and services need upfront financing.
The key players in the market are Symantec Corporation, Google Inc., Fujitsu Ltd., Amazon.com Inc., IBM Corporation, HP, Oracle Corporation, SAP SE, Microsoft Corporation and Salesforce.
What’s covered in the report?
1. Overview of the SaaS market in the Middle East and Africa.
2. Market drivers and challenges in the SaaS market in the Middle East and Africa.
3. Market trends in the SaaS market in the Middle East and Africa.
4. Historical, current and forecasted market size data for the SaaS market in the Middle East and Africa.
5. Historical, current and forecasted market size data for the deployments segment (public cloud, private cloud and hybrid cloud).
6. Historical, current and forecasted market size data for the application segment (ERP, CRM, HRM, SCM and others).
7. Historical, current and forecasted market size data for the vertical segment (BFSI, IT and telecommunication, manufacturing, retail, healthcare, education and others).
8. Historical, current and forecasted regional (the UAE, Saudi Arabia, South Africa and rest of the Middle East and Africa) market size data for SaaS market.
9. Analysis of SaaS market in the Middle East and Africa by value chain.
10. Analysis of the competitive landscape and profiles of major competitors operating in the market.
1. Understand the demand for SaaS to determine the viability of the market.
2. Determine the developed and emerging markets for SaaS.
3. Identify the challenge areas and address them.
4. Develop strategies based on the drivers, trends and highlights for each of the segments.
5. Evaluate the value chain to determine the workflow.
6. Recognize the key competitors of this market and respond accordingly.
7. Knowledge of the initiatives and growth strategies taken by the major companies and decide on the direction of further growth.
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Middle East and Africa Software-as-a-Service (SaaS) Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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