Europe Software as-a-Service Market Report Scope

Europe Software as-a-Service Market Highlights Over 2023 - 2033

The Europe software-as-a-service market is estimated to garner a significant revenue by the end of 2033 by growing at a CAGR of ~X% over the forecast period, i.e., 2023 – 2033. Further, the market generated a notable revenue in the year 2022. The growth of the market can be attributed to the rising urbanization rate. As per the World Bank, the urban population has increased from 92 percent in 1960 to 98 percent in 2021.

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Software as a service (SaaS) refers to a method of delivering applications as a service over the Internet. Instead of installing and maintaining software, you simply access it through the Internet, eliminating the need for complex software and hardware management. It offers cost-effectiveness and a lot of agility for organizations making it is a reliable option for numerous business models and industries. Moreover, it has an ability to run through internet from any device and reduce the operational cost of the organizations. Therefore, the increasing adoption of cloud infrastructure is expected to drive the growth of the Europe software-as-a-service market. More than 70 percent of the organization in Finland were using cloud services in the year 2020

Europe Software as-a-Service Market: Growth Drivers and Challenges

Growth Drivers

• Rising Number of Startup Ventures– In order to reduce the operational costs and improve the effectiveness of an organization SaaS has been adopted by a large number of organizations. Hence, rising number of startup ventures is projected to increase the growth of the Europe software as-a-service market. The number of investments in Europe has increased from more than 800 in the first half of 2015 to more than 4,500 in the first half of 2021 in Europe.

• Surging Number of Internet Users – There are more than 75 Millions number of internet users in Germany in December 2021.

• Increase in the Smartphone Users– More than 45 Million smartphones were shipped in the Quarter 1 of 2022 in Europe.

• Rising Technological Advancement- There are more than 50 per cent of European organizations that are using artificial intelligence ready to use commercial artificial intelligence systems or software.

Challenges

• High Cost for the Installation of the System

• Inadequate Integration Issues

• Rising Threat to Data Privacy

The Europe software-as-a-service market is segmented and analyzed for demand and supply by deployment model into private, public, and hybrid clouds. Out of these, the hybrid cloud segment is expected to hold the largest share over the forecast period owing to the higher adoption of hybrid cloud models among organizations. More than 50 percent of the public service sector in the United Kingdom is using hybrid cloud infrastructure in the year 2021.

Market Segmentation

Our in-depth analysis of the Europe software-as-a-service market includes the following segments:

Key Companies Dominating the Europe Software as-a-Service Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Europe software as-a-service market that are included in our report are AVEVA Group plc, Clarivate, Sage Group plc, Globant S.A., Celonis, Inc., Emarsys, AppFollow, Inc., Spendesk SAS, Qatalog Ltd., Bambuser AG, and others.

Europe Software as-a-Service Market: Latest Developments

• March, 2022: AVEVA Group plc, announced the partnership with Alizent to accelerate digital transformation for asset-intensive industries.

• August, 2020: Globant S.A., announced the acquisition of gA in order to strengthen its leadership in digital and cognitive transformation.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

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