Cyprus's SaaS market in 2026 shows robust growth, with the average subscription cost rising to €45 per month, driven by increased digital transformation. The total revenue has reached €540 million, reflecting expanding cloud adoption among local businesses. The number of SaaS users has surpassed 1.2 million, emphasizing the nation's shift towards digital solutions across various sectors.
Small and medium enterprises are leading this trend, with 78% reporting SaaS use, which indicates a high penetration rate. Longer contract durations, averaging 24 months, suggest greater trust and reliance on SaaS providers. Overall, Cyprus's SaaS landscape is poised for continued expansion, driven by government initiatives and increasing tech investments.