Towing Service Segment Captured Highest Share of the Saudi Arabia Road Assistance Service Market - 6Wresearch

Saudi Arabia is one of the key markets for road assistance and vehicle service in the GCC region followed by UAE and others. Although, road assistance and vehicle service market recorded slow growth during 2014-17, owing to deteriorating economic conditions, primarily due to slump in oil prices; however, the market is expected to register healthy growth post 2017 due to recovery of oil prices, increasing sale of vehicles in the country, growing urbanization as well as surge in road fleet size in Saudi Arabia.

According to 6Wresearch, Saudi Arabia Road Assistance and Vehicle Service market is projected to reach $2.1 billion by 2024. Growing urban population, increasing disposable income coupled with increase in vehicle sales, predominantly passenger cars are likely to propel the demand for road assistance and vehicle service in the country. Vehicle service market generated majority of the market revenues, where OEMs are providing vehicle maintenance services as a part of sale offer resulting in an increase in market revenues.

According to Prijo Samuel, Assistant Research Manager, Research and Consulting, 6Wresearch, "Basic package segment of the road assistance and vehicle service market acquired major revenue share; growing demand for increased services and declining prices of custom packages resulted in the growth of market."

"Additionally, with government announcement of lifting ban on women driving passenger cars and commercial vehicles, there would be surge in passenger car sales resulting in an increase in demand for road assistance and vehicle services," Samuel further added.

According to Shefali Goel, Senior Research Analyst, Research and Consulting, 6Wresearch, "In Saudi Arabia, the Central region held major share of the road assistance and vehicle service market, backed by rising vehicle sales, especially in the passenger car segment."

"Moreover, with an increase in tourism industry in the Central and Western regions, the demand for road assistance and vehicle service market for Light Commercial Vehicles (LCVs) are expected to demonstrate substantial growth during the forecast period," Shefali concluded.

Some of the major companies in Saudi Arabia road assistance and vehicle service market include- Abdul Latif Jameel, Advanced Innovation Company, Azhalha Ezhalha, Droop KSA Inc., Hyundai Motor Company, and Nissan Saudi Arabia Company.

"Saudi Arabia Road Assistance and Vehicle Service Market (2018-2024)" provides in-depth analysis with 25 figures and 8 tables covered in more than 78 pages. The report estimates and forecast the overall Saudi Arabia road assistance and vehicle service market by revenues, package types, and regions. The report also offer insights on competitive landscape, market share by companies, companies benchmarking, company profiles as well as market drivers and restraints.

Developing IT Infrastructure Along with Strengthening Industrial and Manufacturing Sectors in the Country Would Drive the Growth of Saudi Arabia Software as a Service (SaaS) Market - 6Wresearch

After witnessing a slowdown over the past few years, the Saudi Arabian economy is now regaining momentum. With ambitious plans such as Saudi Vision 2030, the country is experiencing construction of several new healthcare facilities, hotels, resorts and small and medium scale enterprises. Further, growing interest and investment by major cloud service providers in Saudi Arabia and other Middle East countries would also increase the demand for software as a service solution in the region over the coming years.

According to 6Wresearch, Saudi Arabia Software as a Service (SaaS) market revenues are projected to grow at a CAGR of 16.8% during 2018-24. Growing industrial and manufacturing sectors in the country along with the strengthening of the non-oil sector in general would generate demand for the use of software as a service solutions in Saudi Arabia during the forecast period.

According to Rachit Gulati, Research Analyst, Research and Consulting, 6Wresearch, "Increasing number of education facilities and growing popularity of online libraries and distance learning in Saudi Arabia would increase the requirement for content management systems in Saudi Arabia in future. As a result, the SaaS solutions market for content management would experience significant growth owing to its applications in domains such as e-commerce and the education sector."

"The market for enterprise resource planning (ERP) SaaS solution is also expected to grow considerably during the forecast period on account of growing adoption in the industrial sector of the country. The strengthening small and medium enterprises segment in Saudi Arabia along with development of new offices, retail spaces and hotels would further help in the growth of the ERP SaaS market in the years to come,"Rachit further added.

According to Siddhant Sharma, Research Analyst, Research and Consulting, 6Wresearch, "The Central Region in Saudi Arabia holds majority of the revenue share in the overall SaaS market due to large number of commercial offices, education institutes and hotels in the region."

According to Chhavi Malpani, Research Associate, Research and Consulting, 6Wresearch, "With growing awareness and confidence regarding the availability and security of cloud services in the country, the demand for public cloud-based software as a service solutions would rise in the Saudi Arabian market over the coming years."

Some of the major companies in Saudi Arabia Software as a Service (SaaS) market include Oracle, Microsoft, SAP, Cisco Systems and Salesforce.

"Saudi Arabia Software as a Service (SaaS) Market (2018-2024)" provides an in-depth analysis with 73 figures and 16 tables, covered in more than 160 pages. The report estimates and forecast the overall Saudi Arabia SaaS market by revenue, deployment, end users, applications and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.