Software as a Service - Ghana | Statista Market Forecast

Revenue in the Software as a Service market is projected to reach US$52.66m 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 20.85%, resulting in a market volume of US$135.70m 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 Ghana is witnessing a slow growth rate, impacted by factors such as limited internet connectivity, lack of awareness about Software as a Service, and lower adoption among businesses. This market is expected to grow gradually as digital infrastructure and government initiatives improve.

Customer preferences: With the growing adoption of cloud technology, there has been a noticeable shift towards Software as a Service (SaaS) solutions in the Public Cloud Market in Ghana. This is driven by the need for cost-effective and efficient software solutions, particularly among small and medium-sized enterprises (SMEs). Additionally, the rise in remote work and the need for collaboration and productivity tools has also fueled the demand for SaaS solutions. This trend is further accelerated by the increasing availability of reliable internet connectivity and the growing tech-savvy population in the country.

Trends in the market: In Ghana, there is a growing trend in the adoption of Software as a Service (SaaS) within the Public Cloud Market. This has been primarily driven by the shift towards digitalization and the need for cost-effective solutions. Additionally, there is a rise in demand for SaaS among small and medium enterprises, as it offers scalability and flexibility. This trend is expected to continue as more companies embrace cloud-based solutions for their business operations. With the increasing usage of SaaS, there is also a rise in the number of local SaaS providers, providing opportunities for local talent and boosting the country's economy. However, this trend also brings challenges such as data security and privacy concerns, which need to be addressed by industry stakeholders. Overall, the trajectory of SaaS in Ghana's Public Cloud Market is on a steady rise, with significant potential for growth and development in the future.

Local special circumstances: In Ghana, the Software as a Service Market within the Public Cloud Market is heavily influenced by the country's growing tech-savvy population and its commitment to digital transformation. With a strong focus on mobile technology and e-government initiatives, Ghana presents a unique opportunity for SaaS companies to tap into a market with a high demand for cloud-based solutions. Additionally, the country's favorable business environment and regulatory framework make it an attractive destination for foreign investment in the public cloud sector.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in Ghana is significantly impacted by macroeconomic factors such as the country's economic health and fiscal policies. Ghana has a rapidly growing economy, with a focus on digital transformation and investment in technology infrastructure. This, coupled with a stable political environment and supportive regulatory policies, provides a conducive environment for the growth of the Software as a Service Market. Additionally, the increasing adoption of cloud-based solutions by businesses and government agencies to improve efficiency and reduce costs is further driving the demand for Software as a Service in the country. With a young and tech-savvy population, Ghana is well-positioned to become a key player in the global Software as a Service market.

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.