Software as a service, commonly known as SaaS, can range from anything such as business software to communications consisting of a wide variety of available business apps. Some of the most well known examples include Amazon Prime, Spotify and Netflix. These services provide software to you, which can be used with complete flexibility. These services typically require you to pick subscription plans to consume licensed content. For business, SaaS can provide project management, business voice or other solutions.
As reported by BMC, SaaS is expected to generate around $140 billion by 2022 in terms of revenue, with the overall cloud spending set to increase by 6.3% every year. Another report by Computer Economics finds that 44% of companies intend to increase their SaaS investments in addition to adoption rates in the near future. The results were based on an annual survey of technological trends.
SaaS surely isn't new, but the far-reaching trends are worth noting. Read along to see the top five SaaS trends to watch in 2021.
1. Vertical SaaS
Think of a highly narrow set of software solutions every time you read the term vertical SaaS. This is typically designed to solve one problem at a time, and it can be narrowed down to industries such as hospitality, health care, retail or tourism, and the like.
Vertical SaaS is, quite simply, not a simple system. It addresses organization-specific requirements where you have the opportunity to customize the software solutions entirely. Now, this is the ideal SaaS trend to shine through 2021 and beyond. If your company is in the game to target lead conversions and customize purchased software until the very end of the process, this is the trend to watch out for.
2. Micro SaaS
As the name hints, Micro SaaS is focused on small businesses that employ a targeted approach, without being fixed to one locale. What this means is that any small business can fully reap the benefits of Micro SaaS without geographical restrictions.
Micro SaaS shifts its focus to the eCommerce industry with benefits to your small enterprise at reduced costs, in addition, to have dedicated user bases. By using such features, Micro SaaS will play a central role in connecting with clients directly while improving satisfaction scores.
3. AI Integration
The integration of artificial intelligence (AI) technological tools is one of the most promising and publicly known SaaS trends. AI integration among many business sectors worldwide is a huge stepping stone for process automation and improving efficiency.
While AI was once doubted for its abilities, the pandemic put the integration into motion in many realms, including healthcare, data surveillance, and monitoring. Today, AI is touted to be an extremely useful technology with top trends in SaaS markets.
4. Mobile First
In the era of digitization, everyone spends an average of 120 hours every month using their phones. This is a key indicator of the way that mobile-first approaches in SaaS have evolved.
A CNBC report finds that the average number of people that spend significant time using their phones will increase to 72.6% by 2022. As a result, SaaS developers are currently focused on mobile apps to integrate the entire experience for customers, businesses, and the general population.
5. PaaS and IaaS
Finally, with infrastructure as a service (IaaS) and Platform as a Service (PaaS) users can build their enterprises to customize apps and other added services. PaaS features to improve the business's scalability, security, and developments. A central reason that IaaS is making the rounds is the openness that enterprises have when considering on-premise IT infrastructure versus a "buy as and when you need it" approach.
These trends along with your organization's software or serviceable apps will allow you to recognize the demand for SaaS that is set to increase in 2021 and beyond. Perle can help you get ready for SaaS integration. Read our customer success stories today.
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