Software as a Service or SaaS is one of the highly used models of cloud computing service. SaaS is the alternative solution to the traditional software installation procedure in the business world. It has grown to become an impactful model for IT services.
SaaS effortlessly helps service providers to develop and deploy applications. Enterprise product development service is growing significantly. But, before knowing more about SaaS, let us start with the basics:
What is SaaS?
SaaS, also referred to as on-demand software, is a medium for rendering software applications to the end-user over the internet.
Officially SaaS is defined as the software licensing and delivery model. SaaS is hosted over the Cloud.
Cloud computing has three models: SaaS, PaaS, and IaaS. SaaS is designed to bring about a remarkable change in business modules.
It has the potential to bring great advantages in business in terms of managing cost and flexibility. Enterprise product development is reshaping due to SaaS.
In this licensing and delivery model, the software is licensed as per the subscription plan. It could be monthly or annual as per convenience.
Services can be accessed on the browser from anywhere and any device provided internet connection should be there.
The Advantages of Software as a Service
Here, a few advantages of SaaS applications over traditional applications have been listed:
- Once you take the subscription, you do not need to pay any extra for any step. It has no license fee, so overall costs less. Hire dedicated developers to get help in your SaaS project.
- SaaS helps in quickly deploying an application as the application is already configured in the Cloud.
- One of the best advantages of using software is accessibility. You can access your application anywhere, anytime. You just need a browser and an internet connection.
- It is a very flexible service as you can change your subscription as per your need. You can go for higher plans as your business grows or if more users need access.
Market Share
According to surveys, SaaS solutions will generate revenue close to $105 billion in 2020 alone. That is $20 billion more than last year.
In 2022 SaaS will generate close to $141 billion. Are you thinking to integrate SaaS in your business? You can hire dedicated developers.
As per recent researches:
- By 2021, 73% of organizations will be using all or mostly SaaS solutions.
- Nearly 85% of small companies have already invested in SaaS options.
- Despite security concerns, 93% of CIOs indicate they are already adopting or are soon planning to adopt SaaS solutions.
- Organizations with over 250 employees use more than 100 SaaS apps.
Opportunities For The SaaS Applications Market In The Future
Some of the top-listed manufacturers for the global Software as a Service (SaaS) market are AWS, Microsoft, Adobe Systems Inc., Oracle Coloration, SAP SE, Cisco Systems, Google, Salesforce, and IBM.
Seeing the market trend we can easily predict that SaaS has entered to stay in the market with no signs of slowing down.
Are you curious to find out the latest opportunities for the SaaS enterprise applications market in the future? Well, read on to end your curiosity.
Enterprise mobility solutions can help to make the best use of SaaS. With all market signs showing that the upcoming years will be interesting for SaaS, let us know about its future a little deeper:
- Vertical SaaS: SaaS is of two types in terms of use, horizontal SaaS, and Vertical SaaS. Vertical SaaS helps to give a customizable solution. Horizontal SaaS covers large mass whereas vertical mass is niche-specific. The world is proceeding towards customizable service. Vertical SaaS focuses on clients with specific requirements. Vertical SaaS seems to offer cost-effective solutions with fine customization.
Vertical SaaS is going to provide immense opportunities in the future. It has the flexibility to adapt according to the demand of the client. Hence it significantly increases upselling opportunities. Due to its catered service, Vertical SaaS will provide a higher degree of business value. You can take the help of a SaaS development company to integrate SaaS in your business. - Artificial Intelligence: Artificial intelligence, due to its dynamic use cases, is spread all over the internet. It has brought about robust changes in the technological world as well as simplified the work process. It automates repetitive tasks and hence reduces the workload of users. In the application market, it is necessary to increase responsiveness. SaaS efficiently does the job. AI-based SaaS is going to be the future of the market. This trend uses prior data to find out what is in store for the future. It notifies the user before anything unexpected happens. It will help you to know about the fluctuation and the changes that are going to happen so that you can prepare yourself. Hand your project over to SaaS app developers who are up-to-date with market trends.
- Platform Unbundling: With the advancement in technologies and the increasing use of the internet, new trends are quickly being adopted. Platform unbundling is one of the most disruptive trends currently. Users are setting the bars quite high, so to suffice their need, platform unbundling aims to cater as per their requirement. In the future, businesses that provide software-based solutions packaged in the form of API are expected to rise. The term unbundling is commonly used in reference to such startups. SaaS app developers are well versed with ongoing trends.
- A Mobile-First Mindset: Experts project that by the year 2022, around 72.6% of the world’s population will browse the internet using mobile devices. SaaS eliminates the limitations of device and location. This feature paves the way for numerous opportunities for SaaS enterprise applications in the future. In this portable edge thus feasibility is a must make the business scalable. Enterprise mobility solutions will continue to be on top demand.
- Micro-SaaS: With the increasing popularity of the company, gradually many other companies try to enter the same field. Companies that are monotonous have a high risk of getting saturated. This has created the need to find some other innovative solutions. Micro-Saas is one such solution. In the future, we will have more such solutions. In Micro-SaaS a small team does the job. It aims to introduce missing features or enhance the existing features.
Conclusion
We are living in a tech-driven era. Every now and then new innovations are introduced. SaaS is one of the best entrants.
Here we have given you a concise idea of the opportunities for the SaaS applications market in the future. A SaaS development company has been providing SaaS solutions.
Author Bio: Tarun Nagar is the Founder & CEO of Dev Technosys web development company. With 10+ years of experience of enabling then start-ups which are now global leaders with creative solutions, he is differentiated by out-of-the-box IT solutions throughout the domain. He is known for his visionary qualities and adaptability for technology and trends, passionate as he is in every aspect dedicated to making IT simple, accessible and approachable for business enterprises.
Excellent article. The possibilities of the market are limitless, because in addition to standard solutions, the solutions themselves sell. That is, they sell entire PaaS to get traffic. This means that there is a demand for the product itself, when the market is filled with SaaS products, there will be an even greater merger of all systems, private solutions will be connected into a single network, this is a future trend. I have been watching the SaaS market for a long time, and it has been growing for a long time, this is obvious, because even restaurants need accounting and the convenience of data representation.