Software as a Service - Cameroon | Statista Market Forecast

Revenue in the Software as a Service market is projected to reach US$21.87m 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 21.32%, resulting in a market volume of US$57.50m 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 Public Cloud Market in Cameroon has witnessed moderate growth, influenced by factors like the gradual adoption of Software as a Service and the increasing awareness of its benefits among consumers. This market is expected to continue its mild growth rate due to the slow pace of digital transformation in the country's healthcare sector.

Customer preferences: The rise of cloud-based software solutions has led to a growing demand for integrated and customizable SaaS platforms among businesses in Cameroon. This trend is driven by a desire for cost-effective and efficient tools that can streamline operations, increase productivity, and support remote work. As more companies in the country shift towards digital transformation, the SaaS market is expected to expand significantly, catering to diverse industries and meeting the evolving needs of consumers.

Trends in the market: In Cameroon, the Software as a Service Market within the Public Cloud Market is seeing a surge in demand for cloud-based solutions, as businesses and organizations seek to improve efficiency and reduce costs. This trend is driven by the increasing availability of reliable internet connectivity and the need for remote work capabilities. Additionally, there is a growing awareness of the potential benefits of SaaS, such as scalability and flexibility. These trends are significant for industry stakeholders as they present opportunities for growth and innovation. However, there may also be challenges in terms of data security and regulatory compliance that need to be addressed. Overall, the trajectory of these trends suggests a promising future for the SaaS market in Cameroon, with potential implications for increased competition and collaboration among industry players.

Local special circumstances: In Cameroon, the Software as a Service Market within the Public Cloud Market holds immense potential due to the increasing adoption of cloud-based solutions by small and medium-sized enterprises. The country's unique geographical and cultural diversity, along with government initiatives to promote digital transformation, are key drivers in the market's growth. Additionally, regulatory reforms, such as the recent introduction of data protection laws, are expected to further fuel the demand for SaaS solutions in the public cloud market in Cameroon.

Underlying macroeconomic factors: The growth of the Software as a Service (SaaS) market within the Public Cloud market in Cameroon 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 digital technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding for digital infrastructure. Furthermore, the increasing adoption of digital solutions in various industries, coupled with the country's efforts to improve its digital infrastructure, is expected to drive the demand for SaaS solutions in Cameroon.

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.