Software as a Service - Israel

Israel

Revenue in the Software as a Service market is projected to reach US$1.47bn 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 20.41%, resulting in a market volume of US$3.72bn by 2029.
In global comparison, most revenue will be generated in the United States (US$187.20bn in 2024).

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

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Analyst Opinion

The Public Cloud market in Israel is seeing a mild growth rate due to factors such as the increasing adoption of Software as a Service (SaaS) and the convenience of online services. Rising awareness of digital technologies also contributes to this trend.

Customer preferences: The growing adoption of Software as a Service (SaaS) in the Public Cloud Market can be attributed to the rising demand for cost-efficient and scalable solutions. This trend is particularly prevalent in Israel, where businesses are looking to streamline their operations and reduce IT costs. Additionally, the country's tech-savvy population and strong entrepreneurial spirit have also fueled the growth of the SaaS market in Israel, with a focus on innovative and user-friendly solutions for various industries. This has led to a shift towards cloud-based productivity tools and collaboration platforms, as well as an increase in demand for industry-specific SaaS solutions.

Trends in the market: In Israel, the Software as a Service market within the Public Cloud Market is experiencing a significant increase in demand, with more businesses and government agencies adopting cloud-based solutions. This trend is driven by the country's highly developed technology sector and government initiatives promoting digital transformation. This trajectory is expected to continue, with a projected market growth of 25% by 2025. This has significant implications for industry stakeholders, as it presents new opportunities for revenue growth and expansion. Additionally, it highlights the importance of investing in cloud-based solutions to remain competitive in the market.

Local special circumstances: In Israel, the Software as a Service Market within the Public Cloud Market is heavily influenced by the country's strong technological innovation and startup culture. This has led to a highly competitive and dynamic market, with a focus on cutting-edge solutions and rapid adoption of new technologies. Additionally, Israel's strict data privacy laws and security regulations have created a unique environment for data protection and cybersecurity within the software as a service industry. These factors have contributed to Israel's prominence as a leader in the public cloud market, particularly in the software as a service sector.

Underlying macroeconomic factors: The Software as a Service Market within the Public Cloud Market in Israel is greatly influenced by macroeconomic factors such as the country's strong focus on technological innovation, favorable government policies, and investments in digital infrastructure. Israel's highly skilled workforce and advanced technology sector have contributed to its strong economic performance, making it a significant player in the global technology market. The increasing adoption of cloud-based solutions by businesses and government agencies in Israel is also driving the growth of the Software as a Service Market within the Public Cloud Market. Additionally, the country's stable political climate and supportive regulatory environment have created a favorable market for digital solutions, attracting foreign investments and promoting market growth.

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.