Software as a Service - North America

North America

In North America, revenue in the 0 market is projected to reach US$197.70bn in 2024.
The Software as a Service market dominates the market with a projected market volume of 0 in 2024.
Revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 18.97%, leading to a market volume of US$471.20bn by 2029.
In a global context, the majority of revenue will be generated the United States, estimated at US$187.20bn in 2024.
In North America, the Software as a Service market is increasingly characterized by a shift towards enhanced cybersecurity features and integration capabilities.

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

Market

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Region comparison

Currency

Analyst Opinion

The Public Cloud market in North America is seeing mild growth, impacted by factors such as increasing adoption of Software as a Service, growing awareness of digital solutions in the healthcare industry, and the convenience of online services.

Customer preferences: As the public cloud market continues to grow, businesses are increasingly turning to Software as a Service (SaaS) solutions for their software needs. This shift is driven by the desire for more flexible and scalable software options, as well as the need for remote accessibility and collaboration. Additionally, the rise of the gig economy and remote work has led to a higher demand for SaaS tools that enable seamless communication and project management across teams.

Trends in the market: In North America, the Software as a Service Market within the Public Cloud Market is experiencing a surge in demand due to the increasing use of remote work and virtual collaboration tools. This trend is expected to continue as companies shift towards a more remote and flexible work environment. Additionally, there is a growing focus on data security and compliance, leading to a rise in the adoption of cloud-based software solutions. These trends have significant implications for industry stakeholders, including increased competition and the need for innovative and secure offerings. Companies that can adapt to these trends and provide reliable and secure SaaS solutions will have a competitive edge in the market.

Local special circumstances: In North America, the Software as a Service Market within the Public Cloud Market is heavily influenced by the region's advanced technological infrastructure and high internet penetration rates. Additionally, the cultural emphasis on innovation and efficiency drives the adoption of cloud-based solutions. Furthermore, the strict data privacy regulations, such as the General Data Protection Regulation (GDPR) in Europe, have a significant impact on the market dynamics, as companies must comply with these regulations when offering their services in North America. The highly competitive nature of the market also drives continuous advancements and enhancements to meet the evolving needs of customers.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in North America is greatly impacted by macroeconomic factors such as technological advancements, government policies, 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. The increasing demand for cost-effective and scalable solutions, along with the rising adoption of cloud-based services, is also driving the growth of the market in North America. Moreover, the region's stable economic conditions and high internet penetration rates are creating a conducive environment for the growth of the Software as a Service Market within the Public Cloud Market.

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.