South Africa Software as a Service (SaaS) Market Size Booming at CAGR of 8.88% to Reach USD 2.52 Billion by 2029

Published | 27 December 2023

South Africa Software as a Service (SaaS) Market is gaining traction because of the further deepening of internet penetration and improving connectivity and an increasing demand for cloud solutions in the country.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the South Africa Software as a Service (SaaS) Market size at USD 1.51 billion in 2029. During the forecast period between 2023 and 2029, BlueWeave expects the South Africa Software as a Service (SaaS) Market size to grow at a CAGR of 8.88% reaching a value of USD 2.52 billion by 2029. Rapid digital transformation across industries, as well as increased usage of public cloud services, are major development factors for the South African Software as a Service (SaaS) Market. Furthermore, the rising use of smart devices and cutting-edge technologies such as artificial intelligence (AI) and machine learning (ML) is expected to provide attractive growth opportunities for the South Africa software as a service (SaaS) market.

Opportunity: Rising adoption of smart phones and app-based services

The growing usage of smartphones in South Africa has resulted in a vast user base that expects seamless access to numerous applications and services. SaaS, with its cloud-based architecture, completely coincides with this development by delivering simple and accessible software solutions that can be accessed via mobile devices. The trend toward app-based services has created new opportunities for SaaS providers to offer a varied range of software applications to meet a variety of purposes, including communication, productivity, and entertainment. The SaaS market is likely to expand in South Africa over the forecast period, as demand for mobile-centric solutions grows.

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South Africa Software as a Service (SaaS) Market – By Application

Based on application, the South Africa Software as a Service (SaaS) Market is segmented into customer relationship management (CRM), enterprise resource planning (ERP), human resource management (HRM), supply chain management (SCM), and others. The CRM segment holds the largest share of the market owing to the increasing volume of customer data. Companies may use CRM SaaS services to simplify customer data, boost client interaction, and improve their entire sales and marketing tactics. The option to access CRM software via the cloud provides firms with cost savings, scalability, and flexibility.

Impact of Escalating Geopolitical Tensions on South Africa Software as a Service (SaaS) Market

The escalating geopolitical tension is hindering the growth of the South Africa Software as a Service (SaaS) Market. The raging war between Israel and Hamas sends shockwaves across various industries, transcending geographic boundaries and affecting businesses globally. The conflict between Israel and Hamas has been a longstanding, deeply entrenched geopolitical issue. On October 7, 2023, Hamas, a Palestinian military organization, in a surprise and heavy attack, struck Israel with thousands of rockets and infiltrations. In response, the prime minister of Israel declared war against Hamas and anticipated that the war would be ‘long and difficult.’ According to United Nations reports, as of December 15, 2023, there had been an estimated 19,000 fatalities in Gaza since October 07. Israel is a hub for many SaaS startups and companies. With the outbreak of war between Israel and Hamas, the accessibility of Israeli SaaS solutions and services for companies based in South Africa was hampered, negatively impacting market growth.

Competitive Landscape

Major players operating in the South Africa Software as a Service (SaaS) Market include Broadcom, Google Inc., Fujitsu Ltd., Amazon.com Inc., IBM Corporation, HP, Oracle Corporation, SAP SE, Microsoft Corporation, and Salesforce.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the South Africa Software as a Service (SaaS) Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the South Africa Software as a Service (SaaS) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the South Africa Software as a Service (SaaS) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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