Software as a Service - Southern Asia

Revenue in the Software as a Service market is projected to reach US$3.40bn 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 24.98%, resulting in a market volume of US$10.37bn 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 of Southern Asia is experiencing steady growth, driven by factors such as increasing use of digital technology, growing health consciousness in consumers, and the convenience of online health services. This average growth rate is influenced by factors such as government initiatives promoting digitalization and the increasing demand for cost-effective solutions in the healthcare industry.

Customer preferences: As the Software as a Service Market grows in Southern Asia, there is a noticeable increase in demand for cloud-based solutions for data storage and management. This trend is driven by the growing need for businesses to have access to their data anytime, anywhere, and on any device. Additionally, there is a shift towards subscription-based models for software usage, allowing for greater flexibility and cost-effectiveness for businesses of all sizes. This shift is further fueled by the increasing number of small and medium enterprises adopting cloud-based solutions to streamline their operations and improve efficiency.

Trends in the market: In Southern Asia, the Software as a Service (SaaS) market is experiencing significant growth, driven by the increasing adoption of cloud services and digital transformation initiatives. This trend is expected to continue as businesses in the region increasingly rely on SaaS solutions for their operational needs. Additionally, there is a growing trend towards the use of SaaS in the public sector, with governments leveraging cloud-based services for improved service delivery and cost savings. This presents a significant opportunity for SaaS providers to expand their market presence and tap into the growing demand for cloud-based solutions in the region. Furthermore, the rise of mobile and internet penetration in Southern Asia is also contributing to the growth of the SaaS market, as more businesses and individuals turn to mobile and web-based applications for their daily tasks and activities. This trend is expected to continue as the region sees further advancements in technology and digital infrastructure. For industry stakeholders, this presents a promising opportunity for growth and expansion in the SaaS market, but also calls for a focus on innovation and staying ahead of the curve to remain competitive in this dynamic market.

Local special circumstances: In Southern Asia, the Software as a Service Market within the Public Cloud Market is influenced by various factors such as the region's high mobile and internet penetration rates, growing tech-savvy population, and increasing government initiatives towards digitalization. Additionally, the cultural preference for subscription-based services and cost-effective solutions drives the demand for SaaS in this market. The region's diverse and complex regulatory landscape also plays a significant role in shaping market dynamics, as companies must navigate different data privacy and security laws across different countries.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in Southern Asia is greatly impacted by macroeconomic factors such as government policies, economic growth, and technological advancements. Countries with stable economies and supportive regulatory environments are experiencing faster market growth compared to regions with economic instability and regulatory challenges. Additionally, the increasing adoption of cloud-based solutions in various industries, such as healthcare, banking, and retail, is driving the demand for Software as a Service in Southern Asia. This trend is further fueled by the growing digitalization of businesses and the need for cost-effective and scalable software solutions. Moreover, the rise in internet penetration and the availability of skilled IT professionals in the region are also contributing to the growth of the Software as a Service Market within the Public Cloud Market in Southern Asia.

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.