Software as a Service - Romania | Statista Market Forecast

Revenue in the Software as a Service market is projected to reach US$166.20m 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 21.52%, resulting in a market volume of US$440.30m 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 Romania is experiencing moderate growth, influenced by factors like the increasing adoption of cloud-based technologies, growing awareness of the benefits of SaaS, and the convenience of online services.

Customer preferences: The Software as a Service Market within the Public Cloud Market in Romania is witnessing a growing demand for collaborative and remote working tools, as companies and employees adapt to a hybrid work model. This trend is fueled by the country's tech-savvy population and its increasing dependence on digital solutions for daily tasks. Additionally, there is a rising preference for customizable and subscription-based software solutions, providing companies with flexibility and cost-efficiency.

Trends in the market: In Romania, the Software as a Service Market within the Public Cloud Market is experiencing an increase in demand for cloud-based solutions, driven by the growing need for remote work and collaboration tools. The market is also seeing a rise in the adoption of artificial intelligence and machine learning technologies, enabling businesses to automate processes and improve efficiency. Furthermore, there is a trend towards hybrid cloud solutions, combining the benefits of public and private clouds. These developments are significant for industry stakeholders as they provide opportunities for growth and innovation. However, they also pose challenges in terms of data security and privacy, requiring companies to invest in robust cybersecurity measures.

Local special circumstances: In Romania, the Software as a Service Market within the Public Cloud Market is influenced by the country's growing IT sector and its strategic location in Eastern Europe. With a highly skilled workforce and a strong focus on innovation, Romania has become an attractive market for multinational companies looking to outsource IT services. Additionally, the country's digital transformation initiatives and favorable data privacy laws have contributed to the growth of the SaaS market. Furthermore, Romania's membership in the EU provides businesses with easy access to other European markets, making it a favorable location for companies offering SaaS solutions.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in Romania is greatly influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The country's strong economic growth and stable political environment have attracted foreign investments, leading to the development of a thriving market for cloud-based services. Additionally, the Romanian government has implemented favorable policies to promote the adoption of digital technologies, including the use of cloud-based solutions, across various industries. This has created a conducive environment for the growth of the Software as a Service Market within the Public Cloud Market in Romania.

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.