Software as a Service - New Zealand

New Zealand

Revenue in the Software as a Service market is projected to reach US$1.05bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 19.70%, resulting in a market volume of US$2.58bn by 2029.
The average spend per employee in the Software as a Service market is projected to reach US$353.90 in 2024.
In global comparison, most revenue will be generated in the United States (US$190.10bn in 2024).

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Software as a Service market in New Zealand has been experiencing steady growth in recent years, driven by customer preferences for flexible and cost-effective solutions, as well as local special circumstances and underlying macroeconomic factors. Customer preferences in New Zealand have shifted towards cloud-based software solutions, as they offer greater flexibility and scalability compared to traditional on-premises software. With the ability to access software applications from any device with an internet connection, businesses in New Zealand are able to streamline their operations and improve productivity. Additionally, the pay-as-you-go pricing model of Software as a Service allows businesses to scale their usage based on their needs, resulting in cost savings and improved efficiency. Trends in the Software as a Service market in New Zealand reflect global patterns, with a growing demand for enterprise software solutions such as customer relationship management (CRM), human resources management (HRM), and enterprise resource planning (ERP) systems. These solutions help businesses automate and streamline their processes, leading to improved productivity and decision-making. Furthermore, the integration of artificial intelligence and machine learning technologies into Software as a Service offerings is gaining traction in New Zealand, as businesses seek to leverage data-driven insights for competitive advantage. Local special circumstances also contribute to the development of the Software as a Service market in New Zealand. The country has a strong entrepreneurial culture, with a high number of small and medium-sized enterprises (SMEs) that are eager to adopt innovative technologies. Software as a Service providers in New Zealand are catering to this demand by offering tailored solutions for specific industries, such as agriculture, tourism, and healthcare. Moreover, the government of New Zealand has been actively promoting the adoption of cloud-based technologies, providing funding and support for businesses to transition to Software as a Service solutions. Underlying macroeconomic factors play a significant role in the growth of the Software as a Service market in New Zealand. The country has a stable and growing economy, with a strong focus on technology and innovation. This creates a favorable environment for Software as a Service providers, as businesses are more willing to invest in cloud-based solutions. Additionally, the increasing digitization of the economy and the rise of remote work due to the COVID-19 pandemic have further accelerated the adoption of Software as a Service in New Zealand. In conclusion, the Software as a Service market in New Zealand is experiencing growth due to customer preferences for flexible and cost-effective solutions, global trends in enterprise software, local special circumstances such as a strong entrepreneurial culture, and underlying macroeconomic factors that support technology adoption. As businesses in New Zealand continue to embrace cloud-based technologies, the Software as a Service market is expected to further expand in the coming years.

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.