Software as a Service - Finland | Statista Market Forecast

Revenue in the Software as a Service market is projected to reach US$2.01bn 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 18.42%, resulting in a market volume of US$4.69bn 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 Software as a Service market in Finland is experiencing mild growth in the Public Cloud Market, driven by factors like the increasing adoption of digital technologies and the convenience of online services. This growth is impacted by the country's strong tech infrastructure and government initiatives promoting digitalization in healthcare.

Customer preferences: With the rising trend of remote work and virtual collaboration, there has been a significant increase in the adoption of Software as a Service solutions in Finland. This shift is driven by the need for efficient and scalable cloud-based tools to support remote work and facilitate seamless collaboration among teams. Additionally, with the growing importance of data security and privacy, there has been a surge in demand for SaaS solutions that offer robust security features to protect sensitive information.

Trends in the market: In Finland, the Software as a Service (SaaS) market within the Public Cloud Market is experiencing a rapid growth, with an increasing number of companies adopting cloud-based solutions. This trend is driven by the need for cost-effective and scalable software solutions. Additionally, there is a rise in demand for SaaS solutions in the public sector, leading to government initiatives to promote the adoption of cloud services. With the ongoing digital transformation, SaaS is expected to continue its upward trajectory, offering significant opportunities for industry stakeholders to tap into the growing market.

Local special circumstances: In Finland, the Software as a Service market within the Public Cloud Market is heavily influenced by the country's strong emphasis on data privacy and security. With strict regulations in place, businesses and consumers alike are more likely to trust cloud-based solutions that comply with these standards. Additionally, the country's high internet penetration rate and tech-savvy population make it an ideal market for SaaS adoption. This has led to the development of innovative SaaS solutions tailored to the unique needs of Finnish businesses, such as those in the gaming and healthcare industries.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in Finland is impacted by various macroeconomic factors. These include the global economic climate, the economic health of Finland, fiscal policies, and other financial indicators. The growth of this market is heavily reliant on the overall economic conditions, as it affects the demand for cloud-based solutions. In addition, favorable fiscal policies and government initiatives that promote the adoption of cloud-based services can also contribute to the market's growth. Moreover, the increasing trend towards remote work and digitalization in various industries is expected to further drive the demand for SaaS solutions in Finland.

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.