Software as a Service - Benelux | Statista Market Forecast

Revenue in the Software as a Service market is projected to reach US$8.10bn 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 18.47%, resulting in a market volume of US$18.91bn 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

In the Public Cloud Market in Benelux, the Software as a Service segment is witnessing mild growth, driven by factors like increasing adoption of cloud-based technologies, growing awareness about the benefits of SaaS, and the convenience of accessing software remotely. However, the growth rate is impacted by factors such as data privacy concerns and the need for specialized skills to manage SaaS solutions effectively.

Customer preferences: The rise of remote work and the need for efficient collaboration tools has led to a growing demand for project management and communication software within the Software as a Service Market. Additionally, the increasing use of mobile devices and the preference for on-the-go access has shifted the market towards cloud-based solutions. This trend is expected to continue as more companies embrace remote work and prioritize flexibility and convenience in their business operations.

Trends in the market: In the Benelux region, the Software as a Service Market within the Public Cloud Market is experiencing a surge in demand for collaboration and project management tools, as remote work becomes the new norm. This trend is expected to continue as companies realize the benefits of cloud-based SaaS solutions, such as increased efficiency and cost savings. Additionally, there is a growing focus on data privacy and security, with SaaS providers implementing stricter measures to meet the GDPR regulations. This trend is likely to shape the future of the SaaS market in the Benelux region, with companies prioritizing secure and compliant solutions.

Local special circumstances: In the Benelux region, the Software as a Service Market within the Public Cloud Market is influenced by the high level of digitalization and tech-savvy population. The region's strong data privacy laws and strict compliance regulations also shape the market, with a focus on security and data protection. Additionally, the Benelux countries have a strong culture of collaboration and innovation, leading to a high adoption of cloud services among businesses. This unique combination of factors sets the Benelux region apart from other markets and drives the growth of the Software as a Service Market within the Public Cloud Market.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in the Benelux region is heavily influenced by macroeconomic factors such as technological advancements, government regulations, and investment in digital infrastructure. Countries with strong government support and favorable regulatory environments for cloud computing are experiencing faster market growth compared to regions with regulatory challenges and limited investment in digital technologies. Furthermore, the increasing adoption of cloud-based solutions by businesses of all sizes, coupled with the growing trend of remote work, is driving the demand for Software as a Service in the Benelux region. This trend is further accelerated by the ongoing COVID-19 pandemic, which has emphasized the importance of cloud-based solutions for business continuity and remote collaboration. Overall, the Software as a Service Market within the Public Cloud Market in the Benelux region is expected to continue its growth trajectory due to the increasing adoption of cloud-based solutions and supportive macroeconomic factors.

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.