SaaS isn’t new, but it’s expanding each passing day with its contemporary trends. Its ever-increasing demand among several industries worldwide has made it to the top. Till the year 2023, it is stated to be the $60.36 billion worth market rate. Its optimized and compliant solutions have made SaaS the most demanding.
The most excellent example of it is Netflix, Amazon Prime, Spotify, etc. It provides such software to their customer that makes them use it with higher flexibility. A subscription-based model where the customer picks their subscription plan to watch the licensed videos.
Being a technical head, I’ve composed the top SaaS trends leading the market race when it comes to implementing SaaS in your enterprise. But before I proceed, I would like to acknowledge you about its essential characteristics and how it benefits the top companies worldwide.
• Enhanced collaboration
Easy and effective collaboration among an organization's different departments has proven comfortable and practical with SaaS. It makes the internal communications transparent and facilitates quick information sharing.
• Compliant payment method
"Pay only for how much you use." Unlike earlier approaches, now you only have to pay for the resources which you used. SaaS uses the most flexible payment approach, which helps to cut-down high costs.
• Enhanced scalability and Accessibility
When I talk about SaaS being scalable, I also talk about customization. Customers can add or cut the features in their app or software accordingly.
On the other hand, Accessibility is associated with handy digital devices and direct access to the work through them despite the locality.
• Elevated data security
A data breach is strictly prohibited when it comes to SaaS; it practices the holistic strategy to protect your data and not make it centralized.
• Automatic Updates
SaaS enables the customers to be free from such hassles. It automatically updates the software rather than notifying you to do it manually.
A few SaaS trends leading the market
1. Implementation of AI-based Technology
Implementing AI-based technology is the most prominent and emerging SaaS trend. This trend has proved to be the best for enhancing productivity and lets you optimize your business processes.
Incorporating AI tools in the software makes customer interactions easy throughout the process and automates the other moving tasks with full efficiency.
With the trends comes a few risks associated with the AI tech, but Saas company has surpassed all of them as time has passed. Today, AI is considered the most contemporary and used technology, trending on the top in the SaaS market.
Companies such as Amazon web services, Google Cloud, IBM Cloud, Microsoft Azure, 987etc., are leading the race to offer Artificial Intelligence-based tech in their products. They have played a massive role in molding the AI into the future of SaaS trends.
2. Vertical SaaS
A set of software solutions is termed vertical SaaS. Vertical SaaS is usually designed to solve a single problem at once and is used in narrow industries such as healthcare, banking, retail, hospitality, etc.
Vertical SaaS is a complex system that deals with business-specific requirements and gives them the leverage to customize extensively. This is the ideal SaaS trend when a company wants to customize their purchased software till the end of the process and is looking for targeted lead conversions.
3. Micro SaaS
Micro SaaS covers all the small organizations with a focused approach and is location independent, which means that enterprises using Micro SaaS can work anywhere. It is focused on specific needs of an organization such as the eCommerce industry in a reduced cost and dedicated user base. With such micro SaaS features, you can consistently connect with your customers directly till they are satisfied with the outcomes.
4. Increase in mobile optimization
With the mobile-centric generation, SaaS companies inserting mobile optimization have made them leading the market trends list in the digital era. Like the dynamic work approach, its features let the users work from their smartphones or tablets despite their workplace presence.
Post the pandemic hit us, an increase in mobile optimization's demand is the need of the hour and is easily accessible and responsive. Moreover, mobile optimization encompasses capabilities such as filtering, the latest updates, and virtual reality.
5. Migration to PaaS
As the demand for innovation rises, it is said that since 2020 SaaS (software as a service) users are gearing up towards PaaS (platform as a service). PaaS enables enterprises to build their customized apps or other add-ons to the existing apps or services. Its empowering features your overall enterprise's scalability, security, and agility of all the on-going developments. This is the reason it is one of the top SaaS trends in 2021.
6. API connections
API (Application Programming Interface) has proven to be an essential part of the development process for years and is turning into an emerging SaaS trend in 2021. It enables the customers to integrate cloud solutions into their systems. Third-party APIs are reliable sources that differentiate functionality in a shorter time frame with its key features.
7. Mobile-first approach
The average person spends 120 hours per month gazing at their phones as per the survey organized by eMarketer. This itself is an interpretation of how rapidly the mobile approaches in the SaaS trends have elevated.
Yet, in another recent CNBC report, it is observed that the percentage of people using smart phones to use the Internet will accelerate to 72.6 percent by the year 2022. The general public and the business owners and heads also prefer to perform all the redundant tasks from their phones themselves. It gives them versatility and scales their businesses.
Keeping in mind the ascending use of mobile phones, SaaS companies have built such a mobile version of apps that enables the users to have access to their work flexibly and turns the operations agile.
As the demand for SaaS has flourished in the past years, SaaS companies have made it more convenient and affordable for people to adopt them. Go through these top SaaS trends to make your brand seem trustable and user friendly.
I would personally recommend you get along with these trends and get a serviceable app or software for your enterprise and instantly connect with your employees and customers.
Pratik Mistry, Senior business head, Radixweb