Latest 2023 Development of the Middle East Software as a Service (SaaS) Market

Middle East Software as a Service (SaaS) Market has been growing steadily in recent years and the growth of this market is driven by government initiatives promoting digital transformation, increased cloud adoption, and a growing startup ecosystem. Some of the latest developments in the Middle East Software as a Service (SaaS) Market include emerging startups. Overall, the market is anticipated to grow in the coming years by the increasing adoption of cloud-based solutions and the growing demand for SaaS solutions.

With the increasing importance of digital transformation, many businesses in the Middle East are looking for software solutions that support them to tap into the growing market for Software as a Service (SaaS) Market in the Middle East. The Middle East has seen a surge in startup activity in recent years, particularly in the tech sector. Many of these startups are adopting SaaS solutions to streamline their operations and improve their efficiency. The Middle East has a thriving startup ecosystem, with several startups emerging in the SaaS space. The growing ecosystem will provide opportunities for SaaS providers to partner with startups and offer their solutions to a wider audience.

Middle East Software as a Service (SaaS) Market Synopsis

Middle East Software as a Service (SaaS) Market has witnessed growth in the past few years on account of evolving IT infrastructure and growing government investment in IT services. The factors driving the growth of the software as a service (SAAS) market in the Middle East are increasing penetration of IoT, rapid changes in business dynamics, and intense competition in the market. Moreover, the reduction of the cost burden, better performance, and the growing adoption of cloud computing would further boost the demand for the software as a service (SAAS) market in the Middle East.

According to 6wresearch, Middle East Software as a Service Market size is expected to grow during 2020-2026. In the Middle East, the market is anticipated to witness negative growth in the economy during the first quarter of 2020 on account of the outbreak of the coronavirus pandemic which spread a worse impact on business worldwide. However, during the second half of 2020-2026, the market in the Middle East is expected to recover from the economic scenario with healthy growth. In terms of end-user, the industrial & manufacturing, and commercial enterprise segments are expected to hold the software as a service (SAAS) market revenue share in the region due to growing commercial offices and improving technology.

Based on deployment, the public cloud segment is dominating the software as a service (SAAS) market revenue share in the Middle East owing to its less maintenance and repair cost, higher elasticity, and growing security concerns. In the region, Saudi Arabia and UAE are expected to lead the software as a service (SAAS) market revenue share in the Middle East due to enhancing service partnerships and increasing new data centres in the countries.

The Middle East Software as a Service Market report thoroughly covers the market by deployment, end-users, applications, and key countries including UAE, Turkey, Kuwait, Qatar, Saudi Arabia, Bahrain, Oman, and the Rest of the Middle East. The Middle East Software as a Service Market Outlook report provides an unbiased and detailed analysis of the ongoing Middle East Software as a Service Market trend, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Middle east software as a service market is anticipated to gain traction during the forecast period 2020-26F on the back of rising commercial enterprises such as banking, insurance, and financial service. Rising penetration of the internet of things simultaneously rises internet subscribers by increasing penetration of mobile phones. Further, the bank and insurance sector is growing in the digital era with evolving technology intended to raise software requirements.   Additionally, rapid changes in business technical prospects demand intelligent software to cope with business in a dynamic environment as a result of influencing the prominent growth of Middle East software as a service market in the coming timeframe.

Middle East software as a service market is expected to register sound revenues in the upcoming six years on the back of the rising banking and financial sector across the region. Increased development of software such as Pay tab, CashU, and Payfort has led to providing online payment service with the growing digitization across the region and is expected to accelerate the installation of software as a service app in the market in the forthcoming years. Additionally, increased software coupled with evolving technology revolution especially here is several famous software apps which users across the region like slack and dropbox, and Qatar is the country that tends to use advanced technology in the entire middle east country and is expected to bolster the potential growth of the software as a service market in the coming timeframe.

Key Highlights of The Reports

• Middle East Software as a Service Market Overview
• Middle East Software as a Service Market Outlook
• Middle East Software as a Service Market Forecast
• Historical Data of Middle East Software as a Service Market Revenues and Volumes, for the Period 2016-2019.
• Market Size & Forecast of Middle East Software as a Service Market Revenues and Volumes, until 2026.
• Historical Data of Middle East Software as a Service Market Revenues and Volumes, by deployment, for the Period 2016-2019.
• Market Size & Forecast of Middle East Software as a Service Market Revenues and Volumes, by deployment, until 2026.
• Historical Data of Middle East Software as a Service Market Revenues and Volumes, by end-user, for the Period 2016-2019.
• Market Size & Forecast of Middle East Software as a Service Market Revenues and Volumes, by end-user, until 2026.
• Historical Data of Middle East Software as a Service Market Revenues and Volumes, by application, for the Period 2016-2019.
• Market Size & Forecast of Middle East Software as a Service Market Revenues and Volumes, by application, until 2026.
• Historical Data of Kuwait Software as a Service Market Revenues and Volumes for the Period 2016-2019.
• Market Size & Forecast of Kuwait Software as a Service Market Revenues and Volumes until 2026.
• Historical Data of Qatar Software as a Service Market Revenues and Volumes for the Period 2016-2019.
• Market Size & Forecast of Qatar Software as a Service Market Revenues and Volumes until 2026.
• Historical Data of UAE Software as a Service Market Revenues and Volumes for the Period 2016-2019.
• Market Size & Forecast of UAE Software as a Service Market Revenues and Volumes until 2026.
• Historical Data of Turkey Software as a Service Market Revenues and Volumes for the Period 2016-2019.
• Market Size & Forecast of Turkey Software as a Service Market Revenues and Volumes until 2026.
• Historical Data of Saudi Arabia Software as a Service Market Revenues and Volumes for the Period 2016-2019.
• Market Size & Forecast of Saudi Arabia Software as a Service Market Revenues and Volumes until 2026.
• Historical Data of Oman Software as a Service Market Revenues and Volumes for the Period 2016-2019.
• Market Size & Forecast of Oman Software as a Service Market Revenues and Volumes until 2026.
• Historical Data of Bahrain Software as a Service Market Revenues and Volumes for the Period 2016-2019.
• Market Size & Forecast of Bahrain Software as a Service Market Revenues and Volumes until 2026.
• Historical Data of Qatar Software as a Service Market Revenues and Volumes for the Period 2016-2019.
• Market Size & Forecast of Qatar Software as a Service Market Revenues and Volumes until 2026.
• Historical Data of Kuwait Software as a Service Market Revenues and Volumes for the Period 2016-2019.
• Market Size & Forecast of Kuwait Software as a Service Market Revenues and Volumes until 2026.
• Historical Data of the rest of Middle East Software as a Service Market Revenues and Volumes for the Period 2016-2019.
• Market Size & Forecast of the rest of Middle East Software as a Service Market Revenues and Volumes until 2026.
• Market Drivers and Restraints
• Middle East Software as a Service Market Price Trends
• Middle East Software as a Service Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Middle East Software as a Service Market Share, By Players
• Middle East Software as a Service Market Share, By Regions
• Middle East Software as a Service Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Middle East Software as a Service Market report provides a detailed analysis of the following market segments:

By Deployment:

• Private Cloud
• Public Cloud
• Hybrid Cloud

By End Users:

• Commercial Enterprises
• BFSI (Banking, Financial Services, and Insurance)
• Hospitality and Healthcare
• Industrial and Manufacturing
• Government and Transportation
• IT & Telecommunications
• Others (Power Utilities, Water Treatment Plants)

By Applications:

• Customer Relationship Management
• Human Capital Management
• Enterprise Resource Planning
• Operations and Manufacturing
• Content Management System
• Supply Chain Management
• Others (Security Management, Transaction Processing)

By Countries

• Kuwait
• Qatar
• Turkey
• Bahrain
• Oman
• UAE
• Saudi Arabia
• Rest of the Middle East

Frequently Asked Questions About the Market Study: FAQs

1. What are the key factors augmenting the growth of the Middle East Software as a Service (SaaS) market?

The increasing adoption of cloud computing technology, the growing need for cost-effective software solutions, and the increasing demand for digital transformation are the key factors augmenting the growth of this market.

2. What are the factors hampering the development of the Software as a Service (SaaS) market?

Data privacy and security concerns, regulatory compliance, and the need for localized software solutions are the factors hampering the growth of this market.

3. Which countries in the Middle East have the potential for a Software as a Service (SaaS) market?

Countries such as Saudi Arabia, United Arab Emirates, and Qatar are expected to have the most potential for Software as a Service (SaaS) market growth.

4. What are the key opportunities for the Middle East Software as a Service (SaaS) market?

The growing demand, increasing digitalization, and emerging startup ecosystem are providing key opportunities to the market.