Are you familiar with the terminology SaaS? It’s okay if you aren’t because before we discuss what the future of SaaS is, we will first clear your concepts regarding SaaS. Let’s begin!
SaaS stands for Software as a Service and is a cloud-based technology. This service allows the user to access applications online via an internet browser without having to download the software in your system. It could be any application ranging from a business app to any office application. Its key advantages include operational management, compatibility, and accessibility.
Furthermore, lower costs and wide availability makes it even more attractive.
Now that you have grasped a pretty good idea of what SaaS is, let’s dig deeper into what the future holds for this innovative model. Since cloud-based integrations are getting prevalent with every passing year, SaaS continues to function as a popular approach. SaaS market trends 2021 continue to validate that the future of SaaS is rosy. But how? What is the scope of SaaS in the near future?
Vertical SaaS
Vertical SaaS augments the possibilities of approaching and targeting customers through a personalized approach. As businesses strive to pitch themselves as specialists, vertical SaaS gives them the power to utilize unique customization options through innovative solutions.
The pre-determined metrics and KPIs put forward relevant insights that businesses use for long-term ventures. This trend is expected to be adopted by numerous companies in upcoming years.
Optimization of Resources
Automation through Artificial intelligence is predicted to gain a market value of 733 billion dollars by 2027. The capabilities of AI coupled with the model of SaaS are enabling businesses to gain complete control over their processes. Its customization would allow companies to process speech patterns, voice controls; provides immense opportunities to achieve customer satisfaction.
Also, the built-in self-recovery feature exponentially improves security with troubleshooting and quick identification.
Increase in Micro SaaS’s Demand
But first, what exactly is Micro SaaS? It is a small SaaS that targets a niche market and employs minimum resources to solve a problem. SaaS market trends 2021 shed light on the fact that even though the markets are saturated for multiple industries, SaaS is expected to increase in demand. Fierce competition between businesses will compel them to adopt micro SaaS to develop an increased value for the SaaS products.
Centralized Analytics
Businesses across the globe are streamlining their organizations while achieving deeper insights into their users. For this purpose, investment in analytics-driven SaaS technologies is expected to surge. In fact, industry experts predict the future of SaaS that the value of analytics-centric SaaS models will likely increase by 25 percent!
This is a critical development since analytics will become the key component of SaaS platforms in upcoming years.
Low-code Capabilities
Minimal technical expertise is required to bring SaaS solutions to life. This is made possible through SaaS’s low-code structures, which will ensure the integration of aligned technology.
The Future is Bright…
More and more companies are now integrating business intelligence in the form of service-based solutions. This will accelerate the adoption of cloud solutions.
SaaS solutions are not only practical but are highly affordable throughout all industries. On top of this, artificial intelligence makes the future of SaaS even more invincible.
