Leading SaaS Trends: What Steps to Take in 2022?
If anything grew exponentially and multiplied its ecosystems in 2021, it’s SaaS (Software as a Service). The technology has empowered users at various fronts, such as usability, cost-optimization, and data accessibility.
Often known as the flag bearer of modernism in operations, SaaS creates history with each passing day. You must have skimmed SaaS trends 2021 from various resources already. But how about next year?
In this edition of the latest SaaS industry trends 2022, read all the leading and verified information about the current and future growth of SaaS so that you can make the most of this cutting-edge technology. It’s food for your brain.
Trend #1 – More use of AI
Well, it does not come as a surprise as AI is expanding its reach in almost every domain. SaaS is no exception. A recent survey says that 40+% of organizations will adopt SaaS before 2021 ends. The AI involvement in SaaS by 2023 will be five times higher than what it was in 2019.
Some of the most viable ways to introduce AI in SaaS are personalized application generation, forecasting the customers’ buying behavior, and targeted marketing.
Trend #2 – More demand for collaborative software
Out of all kinds of private software that SaaS offers, collaborative software will experience the highest demand. This sector has witnessed a surge in the past year already. COVID-19 outbreak and employees working from home made it vital for coming years.
Seeing the present situation, this work model will stay for a little longer as SaaS software trends and the industry needs more advanced collaborative software.
Trend #3 – Love for Vertical SaaS will grow
Vertical SaaS, a type of SaaS wherein SaaS product development happens for one particular industry, and its goal fulfillment will get more love from the customers.
In the words of Resource Finances Online reports, the vertical SaaS market has already tripled its actual size over the past decade. It will continue its expansion journey in 2021 and beyond as companies like the way vertical SaaS grants the ability to design solutions as per the need of the hour. It ensures maximum ROI.
Presently, vertical SaaS has a small TAM compared to horizontal TAM and allows one to have services. Domains - where vertical SaaS products will do wonders - include logistics analytics, retail analytics software, and health BI software.
Trend #4 – We might see the merger of blockchain and SaaS
These two are different technologies, but SaaS trends 2021 says that these two will join hands in the upcoming time. Experts are trying to find a way to utilize the blockchain’s ability to bring transparency in transactions, robust security, and keeping the database free from traditional risks to empower SaaS. When these two techniques club, SaaS offerings will improve.
Trend #5 – PaaS will be the first choice of start-ups
Before AWS and PaaS came into being, startups were having a tough time building their server infrastructure, which was pocket-pinching and tedious. Also, they need to work-upon upon things like ways to scale up and deploy add-ons.
PaaS showed up as a boon for a startup as they have a highly workable platform to work with. In fact, it is among the top SaaS business model trends.
Deliveroo is a live example of how PaaS has empowered start-ups for SaaS development as this meal delivery app grew unexpectedly. Its security features are also impressive. So, there is no reason to turn it down.
Trend #6 – Change in the pricing policy is in the pipeline
One of the key SaaS business trends is the change in the pricing policy. As competition is growing and more features are coming up, SaaS service providers need to find a way to trim down the current churn rate.
The recent market reports reveal that companies using month-to-month contracts have lower churn rates. Customers are going to stay with such a service provider. In the current B2B SaaS trends, SaaS service providers will use data-driven pricing techniques in the upcoming time.
Trend #7 – Note-taking apps will woo the hearts of the customers
The way note-taking apps such as Evernote have empowered collaboration, the operation is hard to beat, and such apps are going to have deeper market penetration in the future. It is one of the key SaaS business model growth trends that every SaaS user needs to check out as it encourages businesses to adopt a growth-driven technology.
Trend #8 – Data leak and loss is still the biggest concern
There is still no good news for those eying on security initiatives in the B2B SaaS industry trends.
While the SaaS industry has witnessed specific improvements in privacy, owing to GDPR compliance, there is still a lot more to do. SaaS adoption has increased the security risks as 67% of SaaS users are still worried about data loss and leaks.
SaaS managed to grab the attention of businesses from day one of its launch as it granted them the ability to work beyond limits while keeping operational expenses under control.
However, no other event than the pandemic outbreak has fueled its growth in unexpected ways. It’s when people realized its actual worth and used it to make remote working possible at every front. Business leaders sensed its significance and took no time to open their arms for this technology.
As per the SaaS adoption trends mentioned above, it won’t be erroneous to say that it has a bright future and will make waves for many upcoming years. So, if you haven’t adopted it, do it now. It’s indeed a wise choice to make.