How has the Software as a Service Platform Grown Exponentially

Software as a Service Platform

Software as a service (SaaS) is more like the new talk of the town. It is seemingly a viable choice for the companies looking out for versatility and accessibility. Over and above, the flexibility, hassle-free subscription rates ease is wooing the number of organizations with each passing year.

Further, it is well-known for its simplicity and agility. As of today, most of the companies are implementing SaaS business intelligence strategies to assist them in their efforts.

A recent report published by Gartner states that the overall SaaS revenue is forecasted to reach a gigantic 150 billion dollars by the end of the year 2022.

The year 2019 saw a breakthrough for the world of SaaS in myriad ways. Here in this article, we have six such essential trends that proved the exponential growth of SaaS in the year 2020. Let’s get started.

Software as a Service (SaaS) Trends

1. Artificial Intelligence and Machine Learning
2. Migration to the developing PaaS
3. Ever-trending Vertical SaaS
4. Product-led Growth Service
5. The undying need for API Connections
6. Innovative and Invaluable micro SaaS

Artificial Intelligence and Machine Learning

Mankind took a giant leap ever since it saw the birth of artificial intelligence and machine learning. It has magnified human capabilities in scopes, which were once unimaginable by man. The time has come when you don’t have to carry the burden of making a note manually all credits to artificial intelligence.

SaaS incorporates machine learning in many ways. One is to augment awareness in customer service presentations. AI-powered chat operations enabled with live chatbots are a very good example of this. It takes care of mechanizing the onboarding process of SaaS. Moreover, SaaS security is ameliorated by instant identification and acts as a potential threat healer with its innate self-recovery options.

Migration to the developing PaaS

2020 is all set to see the globe of SaaS slowly migrating to the magic of PaaS(platform as a service). These are the developments that can easily render customized apps to their original services.

PaaS offerings, a sub-set of SaaS, are massively accessible, easy to use, and strong. This means you will be able to scale your business more easily by using a platform as a service.

Aside from this, what sets apart the PaaS models from the rest is the high-standard security. Also, a vast majority of such uplifts perform a list of involuntary updates on a steady basis.

Ever-trending Vertical SaaS

Vertical SaaS delves into a couple of industries which include retail, healthcare, logistics, data analytics, grooming section, etc. Vertical SaaS is already equipped with pre-defined metrics, KPIs. Aside from this, its analytics can easily be utilized to assess and address daily and long-term processes and intrinsic performance.

With the inclusion of industry-specific compliance capabilities, vertical SaaS is positioned to address data governance procedures. This will also render you with an extra advantage of transparent and clearer solutions.

Product-led Growth Service

In the current scenario, the clients are well aware of the aspects and requirements a product should have in order to match their interests. All credits to the internet that has given this ease. As a matter of fact, most of the consumers yearn to have an option of ‘self-educate’. And that is when product-led growth service has helped mankind to a large extent.

Recently, in the last few years, we saw how the emergence of Zoom and Slack have brought quite a difference in the industry. Henceforth, much of the SaaS trends have been trending by featuring this product-led growth service into their organizations.

Customers now have the opportunity to experience any product before actually buying them. In fact, with the help pf free trails and subscriptions, users can try out the product. It is easier to comprehend the mechanism behind it.

The undying need for API Connections

API stands for Application Programming Interface has been an innate part of the software as a service industry for years now. In the very beginning, SaaS providers did not really have a complete integration solution.

As a result, they would then redirect the customers to a third party to supply the specific APIs enabling the customer to integrate the cloud solution into their existing system. Having done that, proved to be better for the SaaS developers not to reinvent the wheel, and to win some precious time and resources relying on third-party APIs.

See Also: Webmethods integration for business

Innovative and Invaluable micro SaaS

To better combat the impending cutthroat competition, it became the need of the hour to ascertain new ways that could innovate, offer value to the users, and connect deeper. That is when the concept of micro SaaS came into the picture.

They are run by a small team. It can be sometimes less than five people. Micro-SaaS products are best known for being the complementary add-ons to present platforms or growths. These are created with the purpose of refining a misplaced feature or augmenting a prevailing SaaS product.

Further, bearing the advantage of being mini, SaaS offerings could prove increasing quality to businesses across industries in the next years to come. Simply put, this means we can all assume a multitude of fresh micro-SaaS revolutions in the near future in front of us.

Final Thoughts

Above all else, these invigorating SaaS trends are a living testament to the future of technology. It is safe to say that the revolution is here, and it is digital. The future will see more companies migrating towards a cloud-based existence, driven by data.

And this gives birth to the rise in the scope of offering rather practical software solutions to hungry users. It is data that will continue to be the dynamic strength behind business policies in a digitally needy world.

SaaS options are going to be an increasingly convenient and affordable option across industries, both now and in the coming years. By taking stock of these essential SaaS industry trends for 2020, you will win tomorrow’s digital battlefield, pushing yourself ahead of the competition.

Author Bio: Simran Mohanty

Simran is a technical writer by profession. She has extensive knowledge in penning down blogs, articles, whitepapers, and reports, etc. She has written over 300 blogs in the customer success niche as well. In her spare time, she likes to read journals and magazines. If not, she likes to play with her kittens.

First published on www.Techcody.com