The Top Five SaaS Trends to Expect in 2021
The Top Five SaaS Trends to Expect in 2021
SaaS (software-as-a-service) is revolutionizing the IT industry. With the emergence of new firms, the demand for better software and newer technology grows. Today's businesses don't rely on software that needs to be updated and installed separately. This is why SaaS services are so successful.
SaaS eliminates the requirement for software that must be installed and managed locally. As a result, a cloud environment is created in which the software is hosted and can be accessed on a subscription basis.
Because SaaS has substantially reduced prices, it has transformed the job of development organizations. Furthermore, while adopting SaaS solutions, less time is spent on maintenance and other similar tasks.
The demand for SaaS goods is increasing as people adapt to working remotely. Furthermore, setting up and installing software on remote systems can be a strenuous task for any company's IT department.
Experts believe that this is only the beginning for SaaS goods and that the market will continue to grow as SaaS expands its frontiers. It's critical to stay up to date on the latest trends in the SaaS sector when working in a fast-paced industry. Here's a list of five of them.
A few advanced tech businesses have dominated the SaaS world since its inception. A new trend has emerged as they continue to grow at a rapid pace. Micro-SaaS refers to this development.
Micro-SaaS is a word used to describe small SaaS businesses that specialize in a single service. These are SaaS businesses that just have one product, be it software, an extension, or something else. As businesses shift to working in more complex scenarios, Micro-SaaS products will experience the biggest growth.
Micro-SaaS is projected to grow in popularity because it can refer to any little software service that helps with a larger task. Here are a few reasons why Micro-SaaS is a good idea.
- Micro-SaaS software is smaller and hence easier to manage.
- Low development and maintenance costs maximize profit margins.
- Demand for smaller plugins that do the task correctly rather than huge software has increased.
2. Artificial Intelligence
Artificial intelligence (AI) is one of the most interesting 21st-century technologies. Experts believe it is one of the best inventions ever done in the field of computer science. AI has the potential to assist enterprises in their success.
The need for AI-enhanced SaaS products is growing as more firms move to informed and researched decision-making. AI software is expected to grow at a rate of roughly 33% per year, with organizations using an average of 35 AI products at any given moment.
To enhance success rates, SaaS companies will include AI technologies into their solutions. The advantages of employing AI are numerous, and these advantages will fuel the expansion of Artificial Intelligence-based SaaS solutions. Let us analyze some of them.
- Even on large-scale systems, AI can be utilized to tailor the user experience.
- AI can assist in the automation of routine jobs.
- AI will assist businesses in cutting expenses, resulting in the broad use of AI-based SaaS solutions.
AI can assist organizations in providing an exceptional customer experience as well as better serving their customers. Because companies want to be available to their customers at all times, the use of SaaS-based AI chatbots has exploded in recent years. Drift, for example, is an AI-chatbot SaaS solution that aids in the automation of customer relationship activities.
3. Vertical SaaS
Vertical SaaS refers to the development of services and SaaS products that are tailored to a particular industry. The days of a universal SaaS product that could meet the needs of numerous businesses and domains are long gone.
In today's ever-changing world, industries and enterprises change at a quick pace, necessitating the development of a unique solution for each industry. Every domain's frontiers are rapidly growing, and everyone is tackling more difficult problems.
This requires industry-specific software designed to tackle all problems in a certain domain. Here are a few advantages of vertical SaaS that will undoubtedly fuel the trend.
- Assist in the resolution of industry-specific issues.
- For industry processes, better support and functions are required.
Vertical SaaS solutions will solve problems on a scale that has never been seen before. As a result, SaaS companies are focusing on designing vertical SaaS products for certain industries.
4. Mobile-first Development
By the end of 2026, it is estimated that 7516 million smartphone subscriptions will have been purchased. Because of the growing popularity of smartphones, SaaS providers have shifted their focus to mobile devices.
Previously, SaaS products and applications could only be accessed via laptops or desktop computers. When staff was absent, this hampered important corporate procedures.
This prompted SaaS providers to consider developing mobile-first products. More and more companies are developing programs that can be accessed via mobile phones, making it easier to work even when away from a computer.
Smartphones today are as powerful as Desktop computers. As a result, incorporating them into operational business operations is a no-brainer. SaaS suppliers offer smartphone applications that allow customers to continue working on their phones without interruption.
5. White-label SaaS
To avoid upfront costs, huge corporations are increasingly turning to SaaS products. Adding personal branding to SaaS products or services is referred to as white labeling. There will be a surge in demand for customized SaaS goods as a result of this.
White labeling SaaS products include personalization. Furthermore, it has been discovered that 77% of customers and businesses prefer to work with providers who assist them in customizing their SaaS products. This demonstrates why white-labeling SaaS solutions may become the next big thing.
Let's take a look at some more reasons why white-label SaaS is likely to remain popular.
- Risk-free because the consumer does not have to design or maintain their own software.
- Because most SaaS products are subscription-based, they are cost-effective.
- Instead of spending time developing software, better software can be purchased.
Personalizing products according to the needs of customers is another feature of white-label SaaS products.
Brining to a conclusion
As organizations evolve, so do their requirements. Adapting to SaaS software is the only practical option. The industry will continue to be disrupted by the aforementioned SaaS trends. Trends continue for two to five years before entirely changing. SaaS software can weather this difficult terrain because it is very flexible and adaptable to changing requirements.