Software as a Service - Ireland | Statista Market Forecast

Revenue in the Software as a Service market is projected to reach US$764.70m 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 19.91%, resulting in a market volume of US$1.90bn 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 SaaS market within the public cloud market in Ireland is experiencing mild growth, influenced by factors such as increasing adoption of digital technologies, growing awareness of health issues, and the convenience of online health services.

Customer preferences: The growing adoption of cloud-based solutions in Ireland has led to a rise in demand for Software as a Service (SaaS), particularly in the public cloud market. This trend is driven by the increasing need for flexible and cost-effective software solutions, as well as the growing popularity of remote work and online collaboration tools. Additionally, there is a growing preference for subscription-based models and on-demand access to software, as it allows for greater scalability and cost control.

Trends in the market: In Ireland, the Software as a Service Market within the Public Cloud Market is experiencing a sharp increase in demand for cloud-based communication and collaboration tools. With the rise of remote work due to the COVID-19 pandemic, businesses are turning to SaaS solutions for video conferencing, project management, and document sharing. This trend is expected to continue, with experts predicting a compound annual growth rate of 22.5% for the SaaS market in Ireland. This presents significant opportunities for industry stakeholders, including increased revenue and the potential for expansion into new markets. However, it also brings potential challenges, such as ensuring data security and compliance with privacy regulations. As such, companies in this market will need to stay abreast of evolving trends and adapt their strategies accordingly to remain competitive.

Local special circumstances: In Ireland, the Software as a Service Market within the Public Cloud Market is thriving due to the country's strong technological infrastructure and government support for digital transformation. Additionally, Ireland's business-friendly policies and skilled workforce have attracted major companies in the cloud computing industry to establish their presence in the country. The local market is also driven by the increasing demand for cost-effective and scalable software solutions among small and medium-sized enterprises. Moreover, Ireland's position as a gateway to the European market has made it a strategic location for global cloud service providers to expand their operations and cater to the growing demand for cloud-based services in the region.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in Ireland is greatly impacted by macroeconomic factors such as economic stability, government policies, and international trade agreements. As a member of the European Union, Ireland enjoys a favorable business environment and benefits from free trade with other EU countries. Additionally, the country's strong investment in technology and supportive government policies towards digital transformation have further boosted the growth of the SaaS market in Ireland. Furthermore, the increasing demand for cost-effective and scalable cloud solutions, along with the rise in remote work due to the COVID-19 pandemic, has further accelerated the growth of the SaaS market in Ireland.

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.