Software as a Service - Malawi | Statista Market Forecast

Revenue in the Software as a Service market is projected to reach US$4.31m 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 20.48%, resulting in a market volume of US$10.94m 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 the Public Cloud Market in Malawi has seen moderate growth, driven by the country's increasing adoption of digital technologies and growing awareness of online health services. However, the market's growth rate has been impacted by minimal decline due to factors such as limited internet access and slow technological advancements in the country.

Customer preferences: 'The Software as a Service Market within the Public Cloud Market has seen a significant increase in demand for collaborative and communication tools, as more businesses adopt remote work policies. This has led to a rise in the usage of virtual meeting and project management software, as well as cloud-based file storage and sharing solutions. This trend is expected to continue as companies prioritize flexibility, efficiency, and cost-effectiveness in their operations.

Trends in the market: In Malawi, the Software as a Service market within the Public Cloud Market is seeing a rise in demand for cloud-based solutions in government agencies and public sector organizations. This trend is expected to continue, with more organizations adopting cloud-based services to improve efficiency and reduce costs. This has significant implications for industry stakeholders, as it presents opportunities for growth and partnerships with government entities. Additionally, there is a growing trend of using SaaS solutions for education and healthcare services, which has the potential to improve access and quality of these services for the population. As the country continues to develop its digital infrastructure, the SaaS market is expected to see continued growth and innovation.

Local special circumstances: In Malawi, the Software as a Service Market within the Public Cloud Market is gaining traction due to the country's limited IT infrastructure and high demand for cost-effective solutions. Additionally, the government's efforts to promote digitalization and e-governance have led to an increase in the adoption of cloud-based software. Furthermore, the country's unique geographical and cultural factors, such as a predominantly rural population and low internet penetration rates, have influenced the market dynamics, driving the need for easy-to-use and accessible cloud services.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in Malawi is impacted by several macroeconomic factors. Global economic trends, such as the increasing adoption of cloud-based solutions, have a direct impact on the growth of the market. In addition, the national economic health of Malawi, including its GDP growth and inflation rates, also plays a significant role in shaping the demand for SaaS solutions. Furthermore, fiscal policies, such as tax incentives for cloud services, can influence the adoption of SaaS in the public sector. Other relevant financial indicators, such as government spending on IT and the overall investment climate, can also impact the performance of the SaaS market in Malawi.

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.