Top 5 SaaS trends to keep an eye on
By Nivedita Verma for Radius360x
According to Statista, the SaaS industry will grow to acquire a market share of $157 billion by the end of 2021. This industry has seen rapid growth and will continue to grow even more in the coming years.
SaaS applications don’t need heavy hardware management. Their easy to install and use system is what makes SaaS products highly popular. It is known that 99% of businesses will be using one or more SaaS applications by the end of 2021.
SaaS products are changing how businesses work. They are leaving behind legacy systems and moving to more advanced solutions. SaaS applications have an edge as they provide upgraded, easy to access and customized features depending upon the software and service provider. They can be easily integrated with other applications as well leading to greater productivity.
Why keep up with SaaS trends?
SaaS adoption is on the rise. Companies are leaving behind legacy systems and integrating advanced SaaS products to automate, fasten and streamline their business activities. Keeping up with the SaaS trends can help you catch up with what’s going on in the industry. Advancing your SaaS products with the trends can help you deliver better services to your customers.
Top 5 SaaS trends to follow in 2021
- AI for business needs and security: As SaaS products are software-based they need a high level of security. AI can be used for threat detection before any malware tries to enter the software. Another advantage of AI is automation. Companies have started adopting automated software to increase their productivity. Automated CRM software in SaaS is a great example of this.
- Blockchain: Blockchain is popularly known as the technology behind bitcoin, but it is much more than that. Blockchain technology allows users to maintain a decentralized database that cannot be tampered with. This can help businesses gain the trust of their customers. Blockchain is already in use in the SaaS industry. It can streamline tasks like billing, payments, validation, authentication by eliminating the need for third-party intervention.
- Vertical SaaS: The vertical SaaS model continues to trend in 2021. Unlike horizontal SaaS which focuses on as many fields as possible, vertical SaaS focuses on solving specific needs of a single industry. The benefit of vertical SaaS is that companies can pose themselves as experts in particular niches. This results in successful marketing campaigns and more opportunities to upsell. Some examples of successful vertical SaaS are Veeva, Salesforce, Oracle, and SAP.
- Growth of low-code platforms: The growth of low-code platforms will be on the rise in the future. Most productivity tools will be low-code. Kissflow, a workflow management instrument, and Mendix, an app development software are great examples of low-code SaaS platforms. Low-code allows developers to build easy drag and drop interfaces that are very useful to use and integrate.
- Mobile experience first: The number of mobile users is increasing day by day. SaaS businesses must keep in mind to develop mobile-friendly products. Work with competent mobile-app developers to ensure that your customers get the best interface while using your product. Trello, Skype, and MatterMost are great examples of companies that prioritized the mobile experience first and gained from it.
Now you know which Saas trends would see more growth in 2021. 78% of small businesses have already invested in a SaaS solution to better their business activities. The industry is only going to rise in the coming few years. Despite the size of organizations, they are embracing the SaaS model and moving towards modern solutions.
SaaS innovations have made it possible for enterprises to provide better services to the end-users. And as businesses grow the adoption of SaaS is only going to increase.
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