Software-as-a-Service is a software delivery model in which a third-party provider hosts the application and makes them accessible to consumers over the internet. SaaS companies offer access to their software most commonly through a website or application. Software-as-a-service is also known as web-based software, hosted software, and on-demand software. Software providers host and maintain the database, code, and servers that comprise an application. Software-as-a-service is a cloud-based service that enables to users to get access to several components and features of software using a subscription model which include software license, support and other fees and user can run the software locally on their system using the internet without downloading the software.
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The key factors which is responsible for the growth of the UAE Software-as-a-Service market are the increasing government initiatives and digital transformation in the UAE by both public and private sector, increase the adoption of cloud computing in the country and shifting towards software-as-a-service model rather than the traditional on-premises model due to increasing focus of organisation on their own core business aera rather than IT and infrastructure requirement. The digital UAE initiative and programs includes Digital invoicing (eInvoice), the Fifth Generation- 5G, UAE mGovernment initiative, Smart Dubai, Smart Sharjah, Smart Abu Dhabi, Quantum Computing in UAE, Blockchain int the UAE government, AI government policies, the UAE pass app, RegLab- Legislation governing the use and application of technologies among others are encouraging the growth of the market. In addition, SaaS enabled to enterprises to reduce their total cost of ownership, improve return of investment, enhance security and provide continuous availability to customers which further fuel the growth of the market in UAE. Increasing adopting of advanced technology such as artificial intelligence (AI) and the Internet of Things (IoT) and increasing IT infrastructure spending in UAE are further boosting the growth of the market. The increasing government and telecom operator infrastructure improvement is fuelling the growth of the cloud computing market in the UAE, which inturn will increase the growth of the Software-as-a-Service market. Organizations are investigating the feasibility of taking advantage of public cloud services offered by tech giants such as Google, Amazon, and Salesforce. However, data security concerns and complexity with regulations compliance are restraining the market growth.
Read Full Report Description: UAE Software-as-a-Service Market By End-User (Manufacturing, Healthcare, IT & Telecom, Retail, Education, Government, BFSI, Oil & Gas), By Application (Customer Relationship Management (CRM), Human Resource Management (HRM), Financial Management, Sales Management, Enterprise Resource Planning (ERP)¸ Supply Chain Management), By Deployment Type (Public Cloud, Private Cloud and Hybrid Cloud) By Organisation Size (Small and Medium Enterprises, and Large Enterprises) – Opportunities and Forecast, 2019-2026
Based on end-user, the BFSI segment is expected to grow at a higher rate during the forecast period owing to increasing adoption of public and private cloud to enhance customer experience, enhance productivity and efficiency. Moreover, growing number of cloud data center in UAE which inturn is increasing the adoption of SaaS based solution into BFSI industry as it enables to provide 24/7 support while maintaining data residency, security and compliance needs.
Based on application, human resources management segment is projected to grow during the forecast period owing to the increasing adoption of SaaS based HR management software among small and medium size enterprises as it has low cost and is easy to update and integrate. It has the ability to be operated remotely and also helps to increase the profitability of an organisation. SaaS-based HR management applications help to enhance the productivity of the employee as user can easily and quickly implement additional features with a minimal amount of time and effort which further propel the growth of the market during the forecast period. SaaS-based Human Resources software application offers a wide-range toolset that manages all attributes of human resources related activities such as time and attendance management, employee tracking, leave management, notices & announcement, payroll management, recruitment and performance management, and many other which fuel the growth of the market.
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Based on the deployment type, the public cloud segment is expected to grow at a higher CAGR during the forecast period. Rising spending by government and telecom operator for infrastructure improvement is driving the market with the public cloud. Public cloud offers various benefits such as cost-effectiveness, easy and quick to integration and set-up, require no maintenance, provide agility and security. It also offers high flexibility without redundancy along with negligible downtime with minimum risk which is driving the market growth.
Based on organization size, small and medium-sized enterprises is expected to grow a higher rate during the forecast period owing to it’s increased adoption by these enterprises. SaaS offers several benefits to small and medium organizations as it reduces and eliminates expensive hardware or software costs and requires no maintenance or licensing cost which boost the growth of the segment. SaaS-based solutions are easy to integrate and easy to use, along with it provides high scalability and flexibility, which is creating the demand for SaaS among small and medium-sized enterprises to enhance the customer experience.
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Various notable players operating in the UAE Software-as-a-Service market include IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, Cisco Systems, Inc., Amazon Web Services Inc., Hewlett Packard Enterprise Development LP, Infor, Inc., Salesforce.com, Inc., VMware, Inc., SolutionsDots Systems ltd. Symantec Corporation, among others.
The UAE Software-as-a-Service market has been segmented based on end-user, application, deployment type, and organization size. Based on end-user, the market is segmented into Manufacturing, Healthcare, IT & Telecom, Retail, Education, Government, BFSI, Oil & Gas. Based on the application, the market is segmented into Customer Relationship Management (CRM), Human Resource Management (HRM), Financial Management, Sales Management, Enterprise Resource Planning (ERP)¸ Supply Chain Management. Based on the deployment type, the market is segmented into Public Cloud, Private Cloud, and Hybrid Cloud. Based on the organization size, the market is categorized as Small and Medium Enterprises and Large Enterprises.
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