Software as a Service - Morocco

Morocco

In Morocco, revenue in the 0 market is projected to reach US$112.40m in 2024.
The Software as a Service market dominates the market with a projected market volume of 0 in 2024.
Revenue in Morocco is expected to show an annual growth rate (CAGR 2024-2029) of 20.74%, resulting in a market volume of US$288.40m by 2029.
In a global comparison, the majority of revenue will be generated the United States, which is expected to reach US$187.20bn in 2024.
Morocco's burgeoning tech landscape is fostering a growing adoption of Software as a Service in the Public Cloud, enhancing operational efficiency across various sectors.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Public Cloud market in Morocco has seen moderate growth due to factors such as the rising demand for Software as a Service (SaaS), increasing adoption of digital technologies, and growing awareness of the benefits of online services. The market's mild growth rate is impacted by factors such as infrastructure limitations and security concerns.

Customer preferences: As more businesses in Morocco embrace the Public Cloud Market, there is a growing preference for Software as a Service (SaaS) solutions. This is partly due to the cultural emphasis on convenience and cost-effectiveness, as well as the increasing number of small and medium-sized enterprises (SMEs) in the country. Additionally, the shift towards remote work and virtual collaboration has accelerated the adoption of SaaS products, as they offer flexible and accessible solutions for businesses and teams.

Trends in the market: In Morocco, the Software as a Service Market within the Public Cloud Market is experiencing a surge in demand for cloud-based solutions, as organizations increasingly shift towards remote work models. This trend is expected to continue, with the market projected to grow at a CAGR of 15.9% from 2021 to 2026. This shift towards cloud-based SaaS solutions is significant for industry stakeholders as it allows for greater flexibility, scalability, and cost-effectiveness. Additionally, the rise of remote work in the wake of the pandemic has accelerated the adoption of SaaS solutions, making it a crucial trend to watch in the coming years.

Local special circumstances: In Morocco, the Software as a Service Market within the Public Cloud Market is influenced by the country's geographic location as a gateway between Europe and Africa. Additionally, the government's efforts to promote digital transformation and modernize the country's infrastructure have created a favorable environment for the growth of the SaaS market. This, coupled with the increasing adoption of cloud technology by businesses, has led to a surge in demand for SaaS solutions in sectors such as finance, healthcare, and education. Furthermore, Morocco's growing startup ecosystem and favorable regulatory environment for foreign investment are also contributing factors to the market's growth and potential.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in Morocco is impacted by macroeconomic factors such as the country's economic growth, government policies, and global economic trends. With Morocco's growing economy and favorable regulatory environment, the market is expected to experience steady growth. Additionally, the country's investments in digital infrastructure and initiatives to promote digitalization across industries are likely to drive the demand for SaaS solutions. Furthermore, the increasing adoption of cloud-based technologies in the public sector, coupled with the country's efforts to improve digital infrastructure, is expected to boost the growth of the SaaS market in Morocco.

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.