Saudi Arabia Software as a Service (SaaS) Market

Analysts at GMI Research estimates that the Saudi Arabia Software as a Service Market is anticipated to witness a promising growth during forecast period 2023-2030.

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Saudi Arabia SaaS market Trends and Drivers

The continuing social infrastructure development as well as the Saudi Arabia government’s growing emphasis on bolstering the non-oil industry nationwide are the major factors influencing the growth of the Saudi Arabia Software as a Service market. To encourage the public sector to switch from conventional IT systems to cloud-based for greater agility, security, reliability, and innovation, Saudi Arabia introduced its Cloud-First Policy in February 2019. The Software as a Service market will be attracted to by these activities, which will increase demand in Saudi Arabia. In addition, the government has introduced a number of digital initiatives, such as the Saudi Arabia Vision 2030, which is aimed at bolster the country’s IT infrastructure.

The adoption of SaaS apps will be encouraged by the increased focus on IT infrastructure, supporting market demand in the upcoming years. SaaS delivers outstanding advantages like less hardware and software license costs, shorter installation and configuration times, and enhanced scalability, interoperability, and accessibility. Many international behemoths, including Google and Amazon Web Service, intend to establish their data centres in the Middle East to increase their worldwide reach, which will turn to open up new market prospects. Contrarily, the complexity of regulatory compliance and growing concerns about data security may restrain the expansion of the Saudi Arabia Software as a Service market throughout the course of the projection year.

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Based on Deployment Type and Segment, public cloud segment is predicted to experience faster CAGR.

According to the public cloud segment is anticipated to experience faster CAGR growth throughout the forecast period. The demand for public load will be driven by the increased government and telecom operator spending on infrastructure improvement, accelerating the market’s growth in Saudi Arabia over the ensuing years. Numerous advantages of public cloud include cost-effectiveness, ease of integration and quick setup, no need for maintenance, and increased security. It also offers considerable flexibility without redundancy, little downtime, and little risk.

Based on Applications, the human resources management segment is expected to control the market in the upcoming years.

As adoption of SaaS-based HR management software among SMEs is increasing, which is fuelled by its reduced cost and simple upgrade feature, the human resources management segment is predicted to dominate the market throughout the forecast period. It also makes remote access possible to boosts business profitability. Applications for HR management that are SaaS-based help to increase employee productivity since they enable users to swiftly adjust to new holidays with the least amount of time and effort. The SaaS-based fuman resource application provides systematic management of all HR-related tasks, including employee attendance management, notices & announcements, employee monitoring, recruitment, and other tasks.

Based on the End User Segment, the BPS segment is expected to experience faster CAGR.

According to end-user segment, the BPS segment is anticipated to experience faster CAGR growth throughout the forecast period because of the growing baking industry, increasing use of cloud computing solutions to improve customer experience, improved productivity, and efficiency. Additionally, the Middle East is centre to an increasing number of cloud data centres, which will encourage banks and other financial institutions to choose SaaS-based seats since they offer 24/7 support while still meeting data residency, security, and compliance requirements.

Segmentation by Organizational Size, small and medium size is expected to acquire the highest CAGR.

Based on organization size, small and medium-sized enterprises segment is projected to grow at a higher CAGR during the forecast period. SaaS offers numerous benefits to small and medium organizations such as it reduces and eliminates expensive hardware & software costs and requires no maintenance or licensing cost. SaaS-based solutions are easy to integrate and use and provide high scalability and flexibility, which makes it highly suitable for small and medium-sized enterprises.

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Top Market Players

Major players operating in the Saudi Arabia SaaS market include IBM Corporation, Mimsoft Corporation, SAP SE, Oracle Corporation, and Cisco Systems, Inc. are a few well-known companies that compete in the Saudi Arabia Software as a Service market. Amazon.com Web Services, Inc. Among others, Infor, Inc., Salesforce.com, Inc., VM, Inc., and SolutionDot.

Key Developments:

• • In 2019, Oracle Corporation planned to launch 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.

Segments covered in the Report:

The Saudi Arabia Software as a Service market has been segmented based on end-user, application, deployment type, and organization size. Based on the end-user, the market is segmented into Manufacturing, Healthcare, IT & Telecom, Retail, Education, Government, BFSI, and Oil & Gas. Based on the application, the market is segmented into Customer Relationship Management (CRM), Human Resource Management (HRM), Financial Management, Sales Management, Enterprise Resource Planning (ERP), and Supply Chain Management. Based on the deployment type, the market is segmented into Public Cloud, Private Cloud, and Hybrid Cloud. Based on the organization size, the market is categorized as Small and Medium Enterprises and Large Enterprises.

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Key questions answered in this research report:

• • At what pace is the Saudi Arabia Software as a Service market growing? What will be the trend in growth in the future?
  • What are the key restraints and drivers in the current market? What will be the impact of drivers and restraints in the future?
  • Which application generated maximum revenues in 2022 and identify the most promising applications during the forecast period?
  • What are the several application areas of the Saudi Arabia Software as a Service market, and how they are poised to grow?
  • What companies are the major participants in the Saudi Arabia Software as a Service market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Saudi Arabia Software as a Service Market by End-User

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

Saudi Arabia Software as a Service Market by Application

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

Saudi Arabia Software as a Service Market by Deployment Type

• • Public Cloud
  • Private Cloud
  • Hybrid Cloud

Saudi Arabia Software as a Service Market by Organisation Size

• • Small and Medium Enterprises
  • Large Enterprises

Saudi Arabia Software as a Service Market Leading players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • IBM Corporation
  • Microsoft Corporation
  • SAP SE
  • Oracle Corporation
  • Cisco Systems, Inc.
  • Amazon Web Services, Inc.
  • Infor, Inc.
  • Salesforce.com, Inc.
  • VMware, Inc.
  • SolutionDot