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).
For more information on the data displayed, use the info button right next to the boxes.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
Most recent update: Jul 2024
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Sources: Statista Market Insights, Financial Statements of Key Players
The Public Cloud Market in Belgium is seeing moderate growth, influenced by factors like the rising adoption of Software as a Service and the convenience of online services. This trend is driven by the increasing awareness of the benefits of digital technologies in the healthcare industry, leading to a projected growth rate of mild growth in the near future.
Customer preferences: As the demand for flexible and cost-effective solutions rises, consumers are gravitating towards Software as a Service models within the Public Cloud Market in Belgium. This trend is largely driven by the need for efficient and scalable business operations, as well as the increasing reliance on remote work and virtual collaboration. Additionally, the rise of digital transformation and the need for streamlined data management has led to a significant shift towards cloud-based solutions, making Software as a Service a preferred choice for businesses of all sizes.
Trends in the market: In Belgium, the Software as a Service (SaaS) market within the Public Cloud Market is experiencing a surge in adoption, with more organizations shifting towards cloud-based solutions for their business operations. This trend is expected to continue in the coming years, as SaaS offers cost-effective and flexible options for businesses. Additionally, there is a growing focus on data security and compliance, leading to an increase in demand for SaaS solutions that offer robust security features. This shift towards SaaS is also creating opportunities for industry stakeholders, such as cloud service providers and software vendors, to cater to the growing demand and expand their market presence.
Local special circumstances: In Belgium, the Software as a Service Market within the Public Cloud Market is experiencing significant growth due to the country's strong digital infrastructure and high adoption of cloud services. Additionally, the government's support for digital transformation and favorable regulatory environment have played a crucial role in driving the market forward. The country's highly skilled workforce and multilingual capabilities also make it an attractive location for software companies to establish operations and cater to both local and international markets.
Underlying macroeconomic factors: The growth of the Software as a Service Market within the Public Cloud Market in Belgium is heavily influenced by macroeconomic factors such as the country's overall economic health, investment in technology and digital infrastructure, and government policies that support the adoption of cloud-based solutions. Countries with strong economic stability, favorable regulatory environments, and a focus on digital transformation are experiencing a faster market growth compared to regions with economic challenges and limited investment in technology. Additionally, the increasing demand for cost-effective and scalable solutions in the public sector is driving the adoption of Software as a Service in the Belgian market.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Sources: Statista Market Insights, Financial Statements of Key Players, National statistical offices
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights