Software as a Service - Laos | Statista Market Forecast

Revenue in the Software as a Service market is projected to reach US$6.32m 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 21.81%, resulting in a market volume of US$16.93m 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 Laos is experiencing minimal growth, impacted by factors such as slow adoption of Software as a Service, lack of awareness among consumers, and limited availability of online health services.

Customer preferences: As Laos continues to develop its digital infrastructure, the Software as a Service Market within the Public Cloud Market is expected to see a rise in demand. With the increasing availability of internet services and mobile devices, consumers are showing a preference for cloud-based solutions for their business operations. This trend is reinforced by the growing number of small and medium-sized enterprises in the country, who are seeking cost-effective and efficient software solutions. Additionally, the shift towards remote work and the need for collaboration tools has also contributed to the growth of the SaaS market in Laos.

Trends in the market: In Laos, the Software as a Service Market within the Public Cloud Market is experiencing a surge in demand, with businesses shifting towards more cost-effective and flexible solutions. This trend is expected to continue as the government actively promotes digitalization and the use of cloud-based services. This shift towards SaaS solutions also presents opportunities for local and regional providers to enter the market and cater to the specific needs of the region. Additionally, the rise in remote work and virtual collaboration has further accelerated the adoption of SaaS, making it a crucial component of the digital transformation journey for businesses in Laos. As the trend towards SaaS continues to gain momentum, industry stakeholders can expect to see increased competition and partnerships in the market, leading to greater innovation and advancements in the SaaS offerings.

Local special circumstances: In Laos, the Software as a Service Market within the Public Cloud Market is influenced by the country's limited internet infrastructure and low technology adoption. This has resulted in a slower growth compared to other markets. However, the government's efforts to promote digital transformation and investments in infrastructure have created opportunities for market expansion. Additionally, the unique cultural values of the Laotian people, such as a preference for personal relationships and high trust in authority, can impact the adoption of SaaS solutions in the country.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in Laos is influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. Countries with favorable regulatory environments and strong investment in cloud technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing digitalization of businesses and the growing demand for cost-effective and scalable software solutions are driving the adoption of SaaS in the public cloud market. This is further supported by the country's improving economic health and increasing investment in digital infrastructure, which is expected to drive the growth of the market in the coming years.

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.