Denmark Software As A Service (SaaS) Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Deployment Model (Public, Private, Hybrid, Community), By Enterprise Size (Small, Medium, Large), And By End-User Industry (BFSI, Communication and Technology, Retail, Media and Entertainment, Government, Education, Others) - Forecasts From 2022 to 2027

The Denmark software as a service (SaaS) market is projected to witness a compounded annual growth rate of 13.80% to grow to US$885.783 million by 2027, from US$356.269 million in 2020. Software as a service is a cloud-based software delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as "on-demand software" and Web-based/Web-hosted software. The rapid adoption of digital services and technologies across the country is anticipated to increase the demand for SaaS which in turn is expected to drive the overall market growth. Denmark’s ICT sector is contributing to the growth and development of the overall market growth. For instance, the Danish ICT sector is valued at USD 35 billion in the industry with an intense focus on software development and services. Moreover, smart city initiatives taken by the government of the country are projected to significantly contribute to market growth. Danish cities are investing the in digitalization of social and health care services and smart grid technology which provides a lucrative opportunity for the key market players to enter the market. For instance, Cisco and Hitachi have come into partnership with the city of Copenhagen. This partnership entailed that the company can use the city as a Big Data laboratory which will have a positive impact on the overall market growth.

use of cloud-based services and investments in data centres

One of the prime reasons supporting the growth of the market is the growing use of cloud-based services across the country. Organizations across the country are adopting cloud computing and are implementing IT services that can analyze all executions, applications, and network connections. Additionally, the increasing construction of hyperscale data center facilities across the country is projected to drive market growth during the forecast period. Many enterprises in the country have begun to adopt newer methods and processes which has increased the adoption of emerging technologies, like AI, IoT, and machine learning (ML). This transformation is expected to drive the growth of IT services in the region which in turn is anticipated to drive the growth of the overall market during the forecast period. For instance, the Danish government has launched the National Strategy for Artificial Intelligence which will enable companies to use AI and help to promote Denmark as the leader in AI technology. Furthermore, telecommunication providers like TDC, Hi3G Denmark, Telia & Telenor Group are making huge investments in IoT technology which will further boost the overall market growth. Moreover, hyperscale operators and giant players like Facebook and Google are making significant investments in submarine cable projects in order to improve network connectivity and reduce latency which is anticipated to further contributes to the overall market growth.

By deployment model, the Denmark software as a service (SaaS) market is segmented into public, private, hybrid, and community.

The SaaS model is used by businesses for conferences, salesforce automation, customer relations (CRM), web content management, and other applications. The market in Denmark is predicted to develop at a significant rate due to the increased demand for software as a service across different applications. Based on deployment type, during the projected period, the public cloud is expected to take the lead. The public cloud has various advantages over alternative cloud models, including increased versatility, scalability, no maintenance costs, and less complexity. The use of the public cloud by enterprises is being aided by technological developments and an increase in the number of suppliers offering services, and these developments are driving the Denmark SaaS market. Moreover, the increased usage of cloud services by SMEs is driving market growth in the public cloud. The need for a customized public cloud is anticipated to increase as the number of startups grows.

Furthermore, For the public cloud sector to sustain its market position, factors such as the integration of complete software programs and applications within the computing capacity of public SaaS will be significant. Major software as a service vendors is merging Al technology with the cloud to help customers manage their work by providing advanced security services. For instance, in March 2020, Infosys, a global leader in the next-gen digital consultancy services, and IBM announced a global agreement to assist businesses to accelerate their digital transformation journeys by leveraging IBM's public cloud. By effectively utilizing the IBM public cloud's security, open innovation, and enterprise capabilities, enterprises, including those in highly regulated industries like financial services, insurance, and healthcare, will be able to transition, modernize, and transform their enterprise workloads and applications. Furthermore, Dixa, a Danish customer support platform that promises more personalized service, has bolstered its product and technology capabilities by acquiring Melbourne-based "knowledge management" SaaS Elevio.

However, high implementation costs and the complexity of integrating hybrid infrastructure, on the other hand, may limit the growth of the Denmark Software as a Service (SaaS) Market during the forecast period.

As per the numerous preliminary statistics from the post-covid-19 period, public cloud demand surged during the pandemic in Denmark as a result of changes in organizational work strategies around the world. During the pandemic, demand for public cloud rose owing to an increase in the number of startups in industries such as healthcare, retail, and others. For example, Microsoft Corporation had a 775 percent increase in apps such as Microsoft team, Windows virtual desktop, Power Bl, and others in March 2020. These apps are built on top of a cloud service platform. On a daily basis, the company claimed a tremendous surge of roughly 44 million users in Teams. Furthermore, In Denmark, both governments and commercial businesses have adopted the "work from home strategy." As a result, demand for SaaS-based collaboration technologies such as conferencing SaaS, cloud telephony, and others has increased. According to a survey by Spiceworks Ziff Davis, about 64% of businesses enable remote work, and more than half of businesses want to keep their setup even after the pandemic, thus cloud and management service spending is projected to increase in coming years.

COVID-19 SCENARIO

The Denmark software as a service (SaaS) market has been impacted positively by the COVID-19 pandemic. With the increase in digitalization, businesses increased their spending on cloud computing and an increase in investments by Danish businesses in SaaS has been witnessed since the pandemic. In June 2021, the Denmark-based SaaS company, Templafy, raised US$60 million in 2020 for its SaaS document platform. In November 2021, another Denmark-based software company, Fullview, raised 1.58 million euros to redesign customer support for SaaS companies. In April 2020, during the initial period of the pandemic, the Danish HR tech startup Platypus raised US$2.5 million for its SaaS tool. Such increased investments impacted the market growth positively.

Denmark Software As A Service (SaaS) Market Scope:

Market segmentation

• BY DEPLOYMENT MODEL
  • Public
  • Private
  • Hybrid
  • Community
• BY ENTERPRISE SIZE
  • Small
  • Medium
  • Large
• BY END-USER INDUSTRY
  • BFSI
  • Communication and Technology
  • Retail
  • Media and Entertainment
  • Government
  • Education
  • Others

1. INTRODUCTION
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Defination
1.4. Market Segmentation

2. RESEARCH METHODOLOGY  
2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis

5. DENMARK SOFTWARE AS A SERVICE (SAAS) MARKET ANALYSIS, BY DEPLOYMENT MODEL
5.1. Introduction
5.2. Public
5.3. Private
5.4. Hybrid
5.5. Community

6. DENMARK SOFTWARE AS A SERVICE (SAAS) MARKET FORECAST BY ENTERPRISE SIZE
6.1. Introduction
6.2. Small
6.3. Medium
6.4. Large

7. DENMARK SOFTWARE AS A SERVICE (SAAS) MARKET FORECAST BY END-USER INDUSTRY 
7.1. Introduction
7.2. BFSI
7.3. Communication and Technology
7.4. Retail
7.5. Media and Entertainment
7.6. Government
7.7. Education
7.8. Others 

8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES
9.1. Interoute Interxion
9.2. Dell EMC
9.3. Basefarm
9.4. FUJITSU
9.5. IBM
9.6. Salesforce, Inc.
9.7. Amazon Web Services, Inc.

Interoute Interxion

Dell EMC

Basefarm

FUJITSU

IBM

Salesforce, Inc.

Amazon Web Services, Inc.