Latest 2023 Development of UAE Software as a Service Market

UAE Software as a Service Market has been undergoing substantial growth in recent years on account of increasing demand for cloud-based software solutions. The government has been promoting the digital transformation of its economy which creates an environment that is favourable for market growth. The government is also launching various initiatives to promote the use of cloud-based software solutions. The growing number of businesses in the UAE has created a demand for SaaS solutions, as companies are looking forward to increasing their efficiency and competitiveness. Many businesses are turning to cloud-based software solutions to manage their operations. 

The e-commerce market in the UAE is growing rapidly which has further created a demand for software as a service market. Many e-commerce companies are using SaaS solutions to improve their customer experience. The digital transformation of the UAE economy has been driven by the government's efforts to create a digital society. This transformation has created a lot of opportunities for SaaS solutions as companies are actively utilizing software as a service to improve their operations. The UAE has a thriving startup ecosystem, and this has created a demand for SaaS solutions that can help startups to scale their operations.

UAE Software as a Service (SAAS) Market Synopsis

UAE Software as a Service (SAAS) Market is driven by digital transformation coupled with growing government initiatives in the private and public sectors. The key aspects boosting the growth of the software as a service (SAAS) market in UAE are growing IT infrastructure, increasing the adoption of cloud computing, and the increasing number of data centres in the country. Additionally, the rising penetration of IoT coupled with the growing demand for smart devices would further fuel the demand for the software as a service (SAAS) market in UAE.

According to 6wresearch, UAE Software as a Service Market size is expected to grow during 2020-2026. In terms of deployment, the public cloud segment is anticipated to dominate a major revenue share in the software as a service (SAAS) market during the forecast period in UAE on account of growing security concerns, easy integration, cost-effectiveness, and flexibility coupled with minimum risk.

Based on end-user, the BFSI (Banking, Financial Services, and Insurance) segment is expected to lead the software as a service (SAAS) market revenue share in UAE due to the increasing adoption of cloud computing which has further enhanced productivity, efficiency and customer experience. Furthermore, during the first quarter of 2020, the market in UAE is anticipated to witness negative growth in the economy owing to 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 UAE is expected to recover from the economic scenario with healthy growth.

The UAE Software as a Service Market report thoroughly covers the market by deployment, end-users, and applications. The UAE Software as a Service Market Outlook report provides an unbiased and detailed analysis of the ongoing UAE Software as Service Market trends, 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.

Key Highlights of the Report

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

Markets Covered

The UAE 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)

Frequently Asked Questions About the Market Study:

1. What are the major driving factors for the Software as a Service Market in the UAE?

The Software as a Service Market in the UAE is growing rapidly and is expected to grow in the years to come. The region has a high adoption rate for SaaS primarily due to the rising demand for digital transformation. 

2. What are the major industries using the software as a service in the UAE?

The major industries utilizing software as a service in the UAE include banking, government, healthcare, retail, and hospitality.

3. What are the benefits of using Software as a Service in businesses?

The benefits of using Software as a Service for businesses in the UAE include increased efficiency and improved collaboration. 

4. What are the challenges faced by businesses in the UAE?

The major challenges faced by the market are data security, integration with existing systems, and lack of technical skills.

5. Which is the leading software as a service company operating in the UAE?

Microsoft, Oracle, Amazon Web Services (AWS), and Google Cloud are some of the top companies operating in the UAE