Top 5 SaaS Trends taking over in 2020
The digital revolution is here, and SaaS (Software as a Service) is out to prove it. As businesses become increasingly demanding in terms of their daily operations, SaaS is constantly gaining traction. Organizations and businesses are constantly seeking for versatility and accessibility of software solutions without necessarily installing or running in-house applications.
The cloud computing market is currently exploding, thanks to SaaS. In fact, Gartner, projects that this service-based cloud application market could easily hit $143 billion by 2022. This will be a notable growth being shaped by the SaaS trends in 2020. Various industries and business modes have seen the costs effectiveness, and agility that comes about as a result of the SaaS distribution model. While 2019, was a notable year that saw SaaS achieve immense growth, 2020 has already given us all the pointers that SaaS is here to stay and is set to become the trend for business operations henceforth. This said, the following are the top SaaS trends taking over in 2020 and beyond.
Artificial Intelligence
You cannot talk about some of the most impactful trends in SaaS without going the self-learning way. Artificial intelligence is now taking over the business intelligence front in 2020. AI works to increase efficiency and productivity by optimizing business processes. By supporting human capabilities and automating repetitive tasks, AI has proved a force to reckon with in the business front.
Artificial intelligence and machine learning offer an advanced degree of responsiveness within business scenarios. This is especially so in regards to the interaction between the business and its customers through technology. This has taken AI-based SaaS trends in 2020 to a whole new level.
Artificial intelligence is set to bring about some notable disruption in the SaaS industry. By combining SaaS with AI capabilities, businesses will obtain better value from their data. This is in addition to improving security, personalizing services and supplementing human capacity.
Vertical SaaS
Vertical SaaS has shown some notable impact from the beginning of 2020. While horizontal SaaS has its focus on clients across any industry or sector, vertical SaaS is flexible and customizable to target clients within specific supply chains and industries. Some notable examples of vertical SaaS include retail analytics, healthcare analytics software and modern logistics analytics. Companies looking to specialize usually find vertical SaaS more costs effective, relatable and industry-specific option that gives them the flexibility to refine specific features of their business operation.
Vertical SaaS is set to gain more traction in 2020 and beyond, thanks to its ability to align with the client’s demands and industry. This makes it much easier to address the customer’s needs based on their niche. Other notable benefits of vertical SaaS include:
Customer Intelligence – businesses get to benefit from industry-specific customer data and intelligence.
Predefined metrics and KPIs – Since vertical SaS is already integrated with predefined KPIs, metrics and analytics, it makes it easier for businesses to work on both short term and long term processes.
Improved data governance – considering the industry-specific compliance capabilities brought about by vertical SaaS, businesses attain improved data governance.
API Connections
Looking at the rapid uptake of SaaS programs in 2020, one can only imagine the possibilities that abound. For many years now, Application Programming Interface (API) has been an integral part of software development. As the demand for SaaS solutions surged, there was a need to integrate them into a solid and seasoned business system.
Well, let’s face it; some companies may see the need to move their data to a cloud platform. However, a majority would prefer to integrate it with their existing systems for more efficiency. Unfortunately, this process may not be as straightforward as it seems.
It would be noted that in the beginning, SaaS providers did not have much to offer in terms of integration. This would inconvenience their customers who would have to seek specific APIs from their parties. However, if the trend already seen in 2020 is anything to go by, then the SaaS industry is set to attain better integration thanks to the capabilities offered by APIs.
Edging towards PaaS
With the evolution already realized in the SaaS realm, it is no surprise that other complementing services are bound to spring up. One of these is PaaS (Platform as a Service). This is a development that empowers businesses to come up with custom apps as add-ons that will complement their original services. Notable examples of business that have already launched PaaS-centric services include Box and Salesforce.
Let’s go Mobile
A mobile-first mindset is slowly but surely becoming part of the online culture. In fact, there are already some projections that by 2022, about 72.6 percent of the global population will be primarily dependent on their phones for browsing and internet. So where does this leave the SaaS fraternity?
Realizing this mobile-driven trend, SaaS providers are now strategizing on more effective and practical ways to adopt a mobile-first mentality to keep up with the demand from mobile-aligned customers. This explains why most SaaS providers have already cut through the noise and surged forward by offering reliable business intelligence (BI) tools that not only work on desktops but also a myriad of mobile devices in the market today. By focusing on this mobile-first mentality, SaaS vendors are bound to reap big and enjoy a robust return on investment (ROI).
Looking at these trends already setting the pace in 2020, all indications point to the fact that the future looks promising. These developments are set t shape the future of SaaS in 2020 and beyond. This exponential growth in the industry is an indication of our ever-increasing demand for solid software-centric solutions to our businesses and daily lives. The revolution is going digital, and we can only brace ourselves for better prospects ahead on matters SaaS.
