Software as a Service - Bahrain | Statista Market Forecast

Revenue in the Software as a Service market is projected to reach US$42.38m in 2024.
0.0 dominates the market with a projected market volume of 0.0 in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 19.40%, resulting in a market volume of US$102.80m by 2029.
In global comparison, most revenue will be generated United States (US$187.20bn in 2024).

Definition:

Software as a Service (SaaS) refers to the type of public cloud service that delivers software applications over the internet on a subscription basis. Users can access and use the software through web browsers without having to install or maintain it locally. SaaS eliminates the need for purchasing, installing, and updating software, thus offering convenience and automatic updates while allowing users to focus on using the software to meet their requirements. The SaaS market includes the companies that provide these types of cloud-based software resources and services to individuals, businesses, and organizations. A typical example of this type of service is Microsoft Office 365, an SaaS suite of applications (e.g., Word, Excel, and PowerPoint) available for purchase by subscription and accessible via a web browser.

Additional Information:

The Software as a Service (SaaS) market comprises revenue, revenue change, average spend per employee, and key player market shares as key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players of the SaaS market include companies such as Microsoft (Office 365), Salesforce (Customer 360), Oracle (Cloud applications), and IBM (Cloud).

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Enterprise software, such as SAP ERP, Oracle ERP Cloud, Salesforce CRM, and Microsoft Dynamics365
Productivity software, such as Microsoft 365, Google Workspace, and Adobe Creative Cloud

System infrastructure software, such as Microsoft Windows Operating System and Linux Operating System
On-premises software, such as on-premises versions of Microsoft Office, SAP ERP, and Oracle Database
Business-Process-as-a-Service (BPaaS), such as payroll management and accounting solutions via ADP Workforce Now, Intuit QuickBooks Online, Workday, and Oracle NetSuite

The Software as a Service (SaaS) market in Bahrain is experiencing mild growth in the Public Cloud market. Factors such as increasing adoption of digital technologies and consumer health awareness are impacting this growth. Convenience of online services is also a driving force.

Customer preferences: The Software as a Service Market within the Public Cloud Market in Bahrain has witnessed a rise in demand for cloud-based solutions in the education sector. With the pandemic forcing schools and universities to shift to online learning, there has been an increased adoption of SaaS-based learning management systems and virtual classroom platforms. This trend is expected to continue as educational institutions recognize the benefits of flexible and scalable cloud solutions for remote learning.

Trends in the market: In Bahrain, the Software as a Service Market within the Public Cloud Market is experiencing a surge in demand for cloud-based solutions due to the increasing adoption of digital transformation strategies. This trend is driven by the government's push towards a digital economy, leading to an increase in investments in cloud infrastructure. Additionally, businesses are recognizing the cost-effectiveness and flexibility of SaaS models, driving the growth of this market. Furthermore, the trajectory of this trend is expected to continue upwards as companies seek to streamline their operations and increase their agility in response to the evolving business landscape. These developments hold significant implications for industry stakeholders, such as software companies and cloud service providers, who are likely to see an increase in demand for their services. It also presents opportunities for businesses in other industries to leverage SaaS solutions for their operations, leading to a more competitive and innovative business environment in Bahrain.

Local special circumstances: In Bahrain, the Software as a Service Market within the Public Cloud Market is experiencing significant growth due to the country's small size, which allows for easy adoption of new technologies. Additionally, Bahrain's strategic location in the Gulf region makes it an ideal hub for businesses to expand their operations. The country's supportive government policies and initiatives to promote digital transformation further contribute to the rapid growth of the market. Furthermore, the cultural acceptance of technology and high internet penetration rate also drive the demand for Software as a Service solutions in Bahrain.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in Bahrain is influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. Countries with favorable regulatory environments and strong investment in cloud technologies are experiencing faster market growth compared to regions with regulatory challenges and limited technology funding. Furthermore, the increasing adoption of cloud-based solutions by businesses and the growing trend of remote work are driving the demand for Software as a Service in Bahrain.

Data coverage:

The data encompasses B2B and B2C enterprises. Figures are based on the money spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP and level of telecommunications infrastructure.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Together with platform as a service (PaaS) and infrastructure as a service (IaaS), software as a service (SaaS) is one of the three primary tiers of cloud computing. It allows businesses to redirect resources away from IT hardware, software, and personnel expenses, and towards other business needs. Currently, the most prominent companies in the SaaS market are Microsoft, Salesforce, Oracle, SAP, and Google.