Software as a Service - Australia

Australia

Revenue in the Software as a Service market is projected to reach €4.86bn in 2024.
0 dominates the market with a projected market volume of 0 in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 20.25%, resulting in a market volume of €12.22bn by 2029.
In global comparison, most revenue will be generated in the United States (€173,600.00m in 2024).

Key regions: Japan, United Kingdom, United States, Italy, Germany

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Analyst Opinion

The Software as a Service market in the Public Cloud Market in Australia is experiencing subdued growth, impacted by factors such as slow adoption of digital technologies and lack of awareness among consumers. However, the convenience of online services may drive future growth.

Customer preferences: As businesses in Australia continue to embrace the benefits of cloud computing, there has been a significant increase in the demand for Software as a Service (SaaS) solutions. This trend is driven by the desire for more efficient and cost-effective software solutions, as well as the need for remote collaboration and productivity tools in an increasingly digitalized workspace. Additionally, the growing reliance on mobile devices and the rise of remote work have also contributed to the popularity of SaaS solutions within the Public Cloud Market.

Trends in the market: In Australia, the Software as a Service market within the Public Cloud market is experiencing a surge in demand for collaboration and productivity tools, as remote work becomes the norm. Additionally, there is a growing trend of utilizing cloud-based project management and customer relationship management (CRM) software for enhanced efficiency and data management. This trajectory is significant as it allows businesses to streamline operations and adapt to changing work environments. Moreover, it presents opportunities for industry stakeholders to tap into the growing demand for cloud-based solutions and offer innovative services to cater to evolving business needs.

Local special circumstances: In Australia, the Software as a Service Market within the Public Cloud Market is heavily influenced by the country's strong adoption of technology and its highly developed digital infrastructure. Additionally, the country's strict data privacy regulations ensure the secure handling of sensitive data, giving consumers and businesses confidence in utilizing cloud-based solutions. Furthermore, the country's geographic isolation and limited resources have led to a strong focus on efficiency and cost-effectiveness, making the public cloud an attractive option for businesses looking to streamline their operations.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in Australia is influenced by various macroeconomic factors such as the country's stable economic growth, favorable government policies, and increasing adoption of digital technologies. Australia's strong economic performance and investment in IT infrastructure have created a conducive environment for the growth of the public cloud market. Furthermore, the government's support for digital transformation and its focus on promoting innovation and entrepreneurship have also contributed to the expansion of the SaaS market in the country. Additionally, the rising demand for digital solutions and services due to the increasing prevalence of chronic diseases and the aging population is expected to drive the growth of the SaaS market in Australia.

Methodology

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.