Software as a Service - Myanmar | Statista Market Forecast

Revenue in the Software as a Service market is projected to reach US$33.49m 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 20.13%, resulting in a market volume of US$83.76m 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 Myanmar is experiencing mild growth in the Public Cloud market, driven by factors such as increasing adoption of digital technologies and convenience of online services. This growth rate is impacted by the country's developing infrastructure and increasing demand for digital solutions.

Customer preferences: As Myanmar continues to develop its digital infrastructure, there has been a noticeable rise in consumer demand for software as a service solutions. This is particularly evident among small and medium-sized businesses, who are looking for cost-effective and efficient ways to manage their operations. Additionally, the increasing use of mobile devices and the rise of e-commerce in the country have also contributed to the growth of the software as a service market. As more businesses and individuals rely on cloud-based software for their daily tasks, there is a growing need for reliable and secure solutions that can cater to their specific needs. This has led to a rise in customized software as a service offerings, catering to the unique cultural and lifestyle preferences of the Myanmar market.

Trends in the market: In Myanmar, the Software as a Service Market within the Public Cloud Market is experiencing a surge in demand for cloud-based solutions, driven by the growing adoption of digital technologies and increasing internet penetration. This trend is expected to continue as businesses seek cost-effective and scalable options for managing their operations. Additionally, the rise of remote work and the need for collaboration tools amid the COVID-19 pandemic have further accelerated the adoption of SaaS solutions. This presents significant opportunities for industry stakeholders to tap into the market and cater to the evolving needs of businesses in Myanmar.

Local special circumstances: In Myanmar, the Software as a Service Market within the Public Cloud Market is still in its early stages due to limited internet infrastructure and low adoption of digital technologies. However, with the recent political and economic reforms, the market is expected to grow rapidly in the coming years. The country's unique geographical and cultural landscape, along with government regulations, have also played a significant role in shaping the market. For example, the limited availability of credit cards and low internet speeds have led to the emergence of alternative payment methods and the need for lightweight and efficient software solutions. Additionally, the government's push for digital transformation and the growing tech-savvy population are expected to drive the demand for SaaS solutions in the country.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in Myanmar is heavily influenced by macroeconomic factors such as the country's economic growth, government policies, and overall financial stability. As Myanmar continues to attract foreign investment and experience economic growth, there is a growing demand for cloud-based services, including Software as a Service. However, challenges such as limited internet infrastructure and regulatory barriers may hinder market growth. Additionally, the ongoing COVID-19 pandemic has accelerated the adoption of cloud-based solutions, further driving the demand for Software as a Service in Myanmar.

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.