Software as a Service - Taiwan | Statista Market Forecast

Revenue in the Software as a Service market is projected to reach US$1.10bn 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 19.80%, resulting in a market volume of US$2.71bn 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 Taiwan nan is witnessing mild growth, influenced by factors like increasing adoption of cloud computing, growing demand for online services, and rising awareness about the benefits of digital solutions.

Customer preferences: Consumers in Taiwan are increasingly adopting Software as a Service solutions for their businesses, leading to a growing demand for cloud-based productivity and collaboration tools. This trend is driven by the country's highly digitalized workforce and the need for remote work capabilities. Additionally, the demand for Software as a Service is also fueled by the growing popularity of subscription-based models, offering cost-saving benefits and flexibility for businesses of all sizes. The shift towards Software as a Service is also influenced by the increasing use of mobile devices and the need for on-the-go access to business applications.

Trends in the market: In Taiwan, the Software as a Service Market within the Public Cloud Market is experiencing a surge in demand for cloud-based solutions, as companies seek to streamline operations and reduce costs. Additionally, there is a growing trend towards using SaaS for remote work and collaboration, as well as for data storage and analysis. This trend is expected to continue, driven by the increasing adoption of digital transformation strategies by businesses. As a result, industry stakeholders are investing in innovative SaaS offerings and partnerships to stay competitive in this evolving market. This trend also presents opportunities for businesses to expand their customer base and diversify their revenue streams.

Local special circumstances: In Taiwan, the Software as a Service Market within the Public Cloud Market is heavily influenced by the country's advanced technology infrastructure and high internet penetration rate. The government's focus on digital transformation and investment in cloud computing has created a favorable environment for the growth of the market. Additionally, the cultural emphasis on efficiency and cost-effectiveness has led to a strong demand for cloud-based solutions in both the public and private sector. Furthermore, strict data privacy regulations and cybersecurity measures have also played a significant role in shaping the market, with Taiwanese consumers and businesses valuing data protection and security.

Underlying macroeconomic factors: The growth of the Software as a Service Market within the Public Cloud Market in Taiwan is greatly impacted by macroeconomic factors such as technological advancements, government policies, and investment in digital infrastructure. Taiwan's robust economy and government support for digital transformation have created a favorable environment for the growth of the SaaS market. Additionally, the increasing adoption of digital technologies by businesses and the growing demand for cost-effective solutions are driving the growth of the SaaS market in Taiwan.

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.