Software as a Service - Jordan

Jordan

In Jordan, revenue in the 0 market is projected to reach US$40.43m in 2024.
The Software as a Service market dominates the market, with a projected market volume of 0 in 2024.
In Jordan, revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 20.73%, resulting in a market volume of US$103.70m by 2029.
In a global context, most revenue will be generated the United States, with an expected figure of US$187.20bn in 2024.
Jordan's Software as a Service market is experiencing significant growth, driven by increasing digital transformation efforts among local businesses and government initiatives.

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

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Analyst Opinion

The Software as a Service market in the Public Cloud Market in Jordan is experiencing mild growth, influenced by factors like the increasing adoption of digital solutions, growing awareness about health, and the convenience of online services.

Customer preferences: As more businesses in Jordan embrace digital transformation, there has been a noticeable shift towards Software as a Service solutions in the Public Cloud Market. This trend is largely driven by the need for cost-effective and scalable software solutions, as well as the rising demand for remote work capabilities. Additionally, the popularity of SaaS among small and medium-sized enterprises can be attributed to its flexibility, ease of use, and access to advanced technology without significant upfront investments.

Trends in the market: In Jordan, the Software as a Service Market within the Public Cloud Market is experiencing a surge in demand, with businesses increasingly adopting cloud-based solutions for their operations. This trend is expected to continue, driven by the country's growing tech industry and government initiatives to promote digital transformation. As a result, there is a rising need for SaaS providers to offer customizable and scalable solutions to cater to the diverse needs of businesses. This presents opportunities for industry stakeholders, such as software developers and cloud service providers, to tap into the growing market and offer innovative solutions to meet the evolving demands of businesses in Jordan. Moreover, this trend also highlights the importance of data security and privacy, as businesses entrust their sensitive information to cloud-based services. SaaS providers must address these concerns to gain the trust and loyalty of their customers in the highly competitive market.

Local special circumstances: In Jordan, the Software as a Service Market within the Public Cloud Market is seeing significant growth due to the country's strategic location and its large pool of highly skilled IT professionals. The government's initiatives to promote the adoption of cloud-based solutions, combined with the country's stable political environment and supportive regulatory framework, have also contributed to the market's success. Additionally, the cultural emphasis on collaboration and innovation has fostered a strong entrepreneurial spirit, leading to the development of innovative SaaS solutions tailored to the local market.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in Jordan is heavily influenced by macroeconomic factors such as economic stability, government policies, and investment in technology infrastructure. Jordan has a rapidly growing economy, with a strong focus on technology and innovation, making it a favorable market for software as a service solutions. Furthermore, the country's strategic location and supportive government policies have attracted significant foreign investment, further driving the growth of the public cloud market. Additionally, the increasing demand for cost-effective and scalable solutions in the government and public sector is also fueling the growth of the software as a service market in Jordan.

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.