Software as a Service - CIS

Revenue in the 0 market in the CIS is projected to reach US$2.26bn in 2024.
The Software as a Service market dominates the market in the CIS with a projected market volume of 0 in 2024.
Revenue in the CIS is expected to show an annual growth rate (CAGR 2024-2029) of 17.72%, resulting in a market volume of US$5.11bn by 2029.
In global comparison, most revenue will be generated the United States, amounting to US$187.20bn in 2024.
The CIS region is increasingly embracing Software as a Service in the Public Cloud market, driven by a growing demand for digital transformation and remote collaboration solutions.

Key regions: Japan, United Kingdom, United States, Italy, Germany

Market

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Region comparison

Currency

Analyst Opinion

The Software as a Service market in the Public Cloud Market in CIS nan is experiencing slower growth due to factors such as limited infrastructure in the region and lower awareness of digital technologies. Despite this, increasing demand for cloud-based solutions is driving market expansion.

Customer preferences: With the widespread adoption of remote work and virtual collaboration, the Software as a Service Market within the Public Cloud Market has seen a rise in demand for cloud-based project management and communication tools. This trend is driven by the need for efficient and streamlined workflows, as well as the increasing popularity of flexible work arrangements. Additionally, the shift towards SaaS solutions allows businesses to save costs on IT infrastructure and maintenance, making it a more attractive option for budget-conscious organizations.

Trends in the market: In the Software as a Service Market within the Public Cloud Market, there is a noticeable trend towards the integration of artificial intelligence (AI) and machine learning (ML) technologies. This is evidenced by the increasing number of SaaS companies incorporating AI and ML capabilities into their offerings, such as automated data analysis and predictive analytics. This trend is significant as it allows organizations to streamline processes, improve decision-making, and enhance overall efficiency. Industry stakeholders should pay attention to the trajectory of this trend, as it has the potential to significantly impact the market and drive further growth and innovation in the public cloud space.

Local special circumstances: In countries like China and South Korea, the Software as a Service market within the Public Cloud Market is thriving due to the high adoption rates of new technology and the government's favorable policies towards cloud computing. In contrast, in countries like Germany and France, strict data privacy regulations have slowed down the growth of this market. Additionally, in countries like Brazil and Mexico, the Software as a Service market is driven by the need for cost-effective solutions and the growing trend of digital transformation among businesses.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market is heavily affected by macroeconomic factors such as technological advancements, government policies, and investment in digital infrastructure. Countries with a strong focus on promoting digital transformation and a favorable regulatory environment are experiencing rapid growth in the market. On the other hand, regions with regulatory challenges and limited investment in digital technologies are facing slower market growth. The rise in demand for cost-effective and scalable solutions, coupled with the increasing adoption of cloud-based services, is also driving the growth of the market. Furthermore, the growing need for remote work and collaboration due to the COVID-19 pandemic is expected to further boost the demand for Software as a Service solutions in the public cloud market.

Methodology

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.