{"id":1007,"date":"2019-12-07T08:30:15","date_gmt":"2019-12-07T08:30:15","guid":{"rendered":"https:\/\/dreamcyberinfoway.com\/blog\/?p=1007"},"modified":"2023-07-03T08:53:55","modified_gmt":"2023-07-03T08:53:55","slug":"saas-market-trends-2020-new-forecast-you-should-know-to-excel-in-your-business","status":"publish","type":"post","link":"https:\/\/dreamcyberinfoway.com\/blog\/saas-market-trends-2020-new-forecast-you-should-know-to-excel-in-your-business\/","title":{"rendered":"SaaS Market Trends 2020: New Forecast you should know to Excel in your Business"},"content":{"rendered":"\n<p>Over the past few years, the\nSaaS industry has gained significant momentum. Various trends point towards\nincreased utilization of the given software model substantially.<\/p>\n\n\n\n<p>There is no slowdown in the growth of the SaaS industry. Furthermore, it has been estimated that the <a href=\"https:\/\/www.statista.com\/statistics\/510333\/worldwide-public-cloud-software-as-a-service\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">market size of the SaaS-based sector is expected to reach $157 billion in 2020<\/a>.&nbsp; <\/p>\n\n\n\n<p>It is a growing and competitive market that is growing at a\nrapid pace. So it is becoming quite challenging in keeping up with trends. While\nmany of these trends have come and gone, some have continued to show their\npresence comprehensively.<\/p>\n\n\n\n<p>Even though various businesses are continuing to invest heavily in <a href=\"https:\/\/dreamcyberinfoway.com\/blog\/5-killer-tips-to-help-your-saas-startup-to-earn-good-revenue-in-short-period\/\" target=\"_blank\" rel=\"noreferrer noopener\">SaaS software development<\/a>, there is a requirement to keep an eye on the future. It is possible by keeping an eye on trends that will help you to bring high prospects for your business.<\/p>\n\n\n\n<p>There are some latest trends which you should remember so to\nbring accolade for your business. These are as follows:<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>I. Incorporation of AI to get Access to more Practical Application<\/strong><\/p>\n\n\n\n<p>Topping the list of SaaS trends is the increasing usage of\nArtificial Intelligence (AI). Don&#8217;t consider it in the nascent phase as the\ngiven technology has taken the entire business world by storm. <\/p>\n\n\n\n<p>With the entry of AI in the SaaS, a revolution was waiting\nto happen and promised to change everything from accounting to CRM. AI has the\npotential to optimize the business process by:<\/p>\n\n\n\n<ul><li>Improving Efficiency &amp; Productivity<\/li><li>Automating Redundant Task<\/li><li>Augmenting Human Capabilities<\/li><\/ul>\n\n\n\n<p>Unfortunately, some people still consider it in a nascent\nphase, and due to this, only a small portion of AI has been utilized. The\nprimary reason is due to the potential risk associated with it, but thanks to\nSaaS companies, the barrier has finally been going to break.<\/p>\n\n\n\n<p>The best part of the given technology is that it is an\ninnovative technology that is creating a well-defined path for fulfilling the\nSaaS company&#8217;s needs. By the application of AI with SaaS, the businesses can\nbring improvement in:<\/p>\n\n\n\n<ul><li>Speed &amp; Security<\/li><li>Personalization<\/li><li>Automation&nbsp;\n<\/li><\/ul>\n\n\n\n<p>Furthermore, the utilization of AI-powered Chatbots has permitted the companies to level customer service responsiveness with high effectiveness.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>II. The emergence of Vertical-Specific SaaS<\/strong><\/p>\n\n\n\n<p>Few people know that SaaS is of two types horizontal and\nvertical. Horizontal SaaS are generic and more dominant, whereas vertical SaaS\nsuits for specific business needs and has recently emerged as path-breaking\nphenomena. <\/p>\n\n\n\n<p>In recent times, vertical-specific SaaS companies have come\nto represent a larger share in the overall SaaS market. They tend to experience\nfaster growth as compared to their horizontal counterparts.<\/p>\n\n\n\n<p>Various industries are eying for vertical SaaS solutions and\ninclude retail analytic software, logistic analytic, and healthcare software.\nThere are multiple benefits associated with the given delivery model, and it\nincludes:<\/p>\n\n\n\n<ul><li>Customer Intelligence<\/li><li>Business Value<\/li><li>Improved Data Governance<\/li><\/ul>\n\n\n\n<p>In addition to this, they also indulge in:<\/p>\n\n\n\n<ul><li>Enhanced Flexibility<\/li><li>More Upselling Opportunities<\/li><li>Lower Client Acquisition Costs <\/li><\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>III. Migration to PaaS is emerging as New Trend<\/strong><\/p>\n\n\n\n<p>Both SaaS and PaaS are renowned cloud computing software. But\nwhy migrating to PaaS is a crucial solution?<\/p>\n\n\n\n<p>Before explaining this, you should go through one thing that\nthere is a massive trend of innovation in the given industry. Due to the given\nfactor, every SaaS company is trying to offer new things but is halted by the\nchanging demand of the clients. <\/p>\n\n\n\n<p>As a result, it has become a challenging task to retain the\nexisting customers and has forced SaaS companies to rethink their strategy. To\novercome the fear of losing customers, SaaS vendors are moving towards\nplatform-as-a-service (PaaS). <\/p>\n\n\n\n<p>What is the importance of PaaS? It empowers the clients (or\nbusinesses) to develop custom applications to integrate their unique services.\nFurthermore, there are various factors which made PaaS an emerging trend:<\/p>\n\n\n\n<ul><li>High Flexibility &amp; Accessibility<\/li><li>Robust Delivery Model<\/li><li>High Security with Regular Automatic Upgrades &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/li><\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>IV. Rise &amp; Rise of Micro-SaaS<\/strong><\/p>\n\n\n\n<p>The biggest problem associated with the SaaS platform is\nthat the top 10 companies dominate the given industry. So for an emerging\nvendor to create their space, they have to bring innovativeness in their\nworking.<\/p>\n\n\n\n<p>So, there has been the creation of micro-solutions that\naugment the functions of niche offerings in the form of micro-SaaS? So\nprecisely what is it?<\/p>\n\n\n\n<p>It is a small tool designed by a group of people to improve\nthe existing functioning of any given SaaS product. It includes various devices\nsuch as add-ons, extensions, and other accessories.<\/p>\n\n\n\n<p>There are various micro-SaaS tools which are creating a boom\nin the industry and are as follows:<\/p>\n\n\n\n<ul><li>Boomerang for Gmail<\/li><li>Yoast SEO plugin<\/li><li>Mail-track<\/li><li>Grammarly<\/li><\/ul>\n\n\n\n<p>These projects often require small costs and can accomplish\nwithout outside funding. Furthermore, there are various benefits associated\nwith a given trend, such as:<\/p>\n\n\n\n<ul><li>High-Profit Margin<\/li><li>Location Independent<\/li><li>Low Overheads<\/li><\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>V. Smartphones are New Powerhouse of SaaS Model<\/strong><\/p>\n\n\n\n<p>Smartphones have become part and parcel of the life of the people. It has been estimated that <a href=\"https:\/\/www.cnbc.com\/2019\/01\/24\/smartphones-72percent-of-people-will-use-only-mobile-for-internet-by-2025.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">72.6% of the people will be using smartphones by 2022<\/a>. <\/p>\n\n\n\n<p>Another study has found that the average person across the\nworld is spending over 120 hours\/month staring at their smartphones.<\/p>\n\n\n\n<p>From the above facts, one thing could be said that mobile\ntechnology has created a buzz in this industry and is not going to leave any\nsoon.<\/p>\n\n\n\n<p>What\u2019s more, business owners are getting involved in running\na business from their smartphones. Besides, many employees now want to prefer\nhaving mobility while doing their jobs.<\/p>\n\n\n\n<p>Therefore, SaaS companies are creating and bringing significant improvement in mobile apps for their tools and services. Also, there has been an urge to keep up with the pace and direction to move towards mobile technology, which will continue in the future.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Wrapping Up<\/strong><\/p>\n\n\n\n<p>From the above-given study, one thing is sure that SaaS has\ngained significant momentum in the coming decades. It is the future of the\nsoftware world. <\/p>\n\n\n\n<p>If you want to create a niche in the field of software and earn a good profit, then opt for a leading <a href=\"https:\/\/dreamcyberinfoway.com\/services\/saas-development\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"SaaS application development company (opens in a new tab)\">SaaS application development company<\/a> and build an excellent reputation for your product.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over the past few years, the SaaS industry has gained significant momentum. Various trends point towards<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":4,"featured_media":1010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70],"tags":[41,42,43,73,22],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SaaS Market Trends 2020: New Forecast you should know to Excel in your Business - Dream Cyber Infoway - Blog<\/title>\n<meta name=\"description\" content=\"Over the past few years, the SaaS industry has gained significant momentum. 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