Software as a Service - Greece | Statista Market Forecast

Revenue in the Software as a Service market is projected to reach US$154.90m 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 18.01%, resulting in a market volume of US$354.40m 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 Greece, within the Public Cloud market, is experiencing mild growth driven by factors such as increasing adoption of cloud technology, rising demand for online services, and the convenience offered by SaaS solutions. This growth rate is impacted by factors such as government regulations, economic conditions, and competition within the market.

Customer preferences: As the Software as a Service Market within the Public Cloud Market continues to grow in Greece, there has been a noticeable shift towards subscription-based models for software and applications. This is driven by the increasing demand for flexible and cost-effective solutions, as well as the convenience of accessing services through the cloud. Additionally, there is a growing trend towards using AI and automation in software, as businesses look to streamline their operations and increase efficiency. This reflects a broader global trend towards digital transformation in the workplace.

Trends in the market: In Greece, the Software as a Service market within the Public Cloud Market is experiencing a surge in demand for cloud-based solutions. This trend is being driven by increased adoption of digital tools by both government agencies and private organizations. As a result, the market is witnessing a shift towards subscription-based models, leading to a rise in the use of Software as a Service. This trend is significant as it allows for greater flexibility and cost-effectiveness for users. However, it also poses challenges for traditional software vendors, who must adapt to this new model in order to remain competitive. These trends have implications for industry stakeholders, as they will need to embrace new business models and technologies in order to stay relevant in the evolving market.

Local special circumstances: In Greece, the Software as a Service Market within the Public Cloud Market is influenced by the country's geographical location and cultural preferences. The Mediterranean climate and landscape make it ideal for outdoor activities, leading to a demand for cloud-based solutions for travel and leisure industries. Additionally, the Greek culture values personal relationships and trust, making it essential for SaaS providers to establish strong partnerships with local businesses. Furthermore, the recent implementation of GDPR has influenced data security and privacy concerns, shaping the market dynamics in Greece.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in Greece is highly influenced by macroeconomic factors such as government policies, economic stability, and technological advancements. Countries with a strong national economy and supportive fiscal policies have seen a significant increase in the adoption of SaaS solutions. Additionally, the growing trend towards digital transformation and the need for cost-effective and efficient IT solutions in the public sector have also contributed to the growth of the SaaS market in Greece. Furthermore, the country's investment in infrastructure and its favorable regulatory environment have attracted international SaaS providers, leading to a more competitive market and driving innovation and growth.

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.