Software as a Service - Egypt

Egypt

In Egypt, revenue in the 0 market is projected to reach US$86.85m in 2024.
The Software as a Service market sector is expected to dominate the market with a projected market volume of 0 in the same year.
Revenue in Egypt is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 30.04%, which will lead to a market volume of US$323.00m by 2029.
In a global context, the United States will generate the most revenue, amounting to US$187.20bn in 2024.
Egypt's Software as a Service market is increasingly embracing cloud solutions, driven by the government's digital transformation initiatives and a growing tech-savvy workforce.

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

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Analyst Opinion

The Public Cloud market in Egypt has witnessed a negligible decline in growth rate. Factors such as increasing adoption of Software as a Service, rising awareness about its benefits, and the convenience of online services have contributed to this trend.

Customer preferences: The Software as a Service Market within the Public Cloud Market in Egypt has seen a significant rise in demand for remote work and collaboration tools, as well as cloud-based solutions for e-learning and virtual events. This trend is driven by the country's large youth population and the increasing adoption of digital technology in education and business. Moreover, the COVID-19 pandemic has accelerated the shift towards online platforms, as individuals and organizations look for ways to stay connected and productive while adhering to social distancing measures.

Trends in the market: In Egypt, the Software as a Service Market within the Public Cloud Market is experiencing a surge in demand, driven by the increasing adoption of cloud computing and digital transformation initiatives in the public sector. This trend is expected to continue, with more organizations looking to leverage the benefits of SaaS solutions, such as cost savings, scalability, and flexibility. As a result, we can expect to see a rise in the number of partnerships and collaborations between cloud service providers and government agencies, as well as an increased focus on data security and compliance in the SaaS market. These developments will have significant implications for industry stakeholders, as they navigate the evolving landscape and seek to capitalize on the opportunities presented by this growing market.

Local special circumstances: In Egypt, the Software as a Service Market within the Public Cloud Market is seeing a surge in demand due to the country's growing tech-savvy population and favorable government policies promoting digital transformation. Additionally, the country's unique geographical location at the crossroads of three continents makes it an ideal location for data centers and cloud infrastructure. This, coupled with its young and skilled workforce, provides a competitive advantage for the growth of the market. Furthermore, Egypt's increasing internet penetration and rising adoption of mobile devices have created a conducive environment for the development of cloud-based services, making it a key player in the regional market.

Underlying macroeconomic factors: The growth of the Software as a Service Market within the Public Cloud Market is heavily 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. Additionally, the increasing demand for efficient and cost-effective software solutions, as well as the growing trend of remote work and digital transformation, are driving the adoption of Software as a Service in the public cloud market in Egypt. These factors are expected to continue to shape the growth of the market in the coming years.

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.