SaaS product development services are taking over the cloud computing market. According to Gartner, cloud spending in many regions is foreseen to grow quickly as economies reopen and more normal activity continues, with areas such as North America hoping to return to higher spending levels by 2022.
SaaS (Software as a Service) trends seem to grow increasingly since the COVID-19 pandemic. This has led to an increase in market demand, improving opportunities for vertical SaaS services, and addressing operational hurdles.
With the advent of new technologies, you will see a major change in the way SaaS impacts businesses and also the buying behavior of customers. So, if you are yet not aware of the SaaS trends that can take your business to a new level, we have got you covered. Explore the 4 leading SaaS trends of 2021 here and give a boost to your sales.
4 SaaS Trends You Must Not Miss In 2021
SaaS IPO & Acquisition
Since Salesforce’s inception in 2004, almost 70 other SaaS cloud companies follow it every year, and the numbers have been increasing year after year since then. 2018 was considered a standard year for IPOs, but there were 16 high-growth SaaS companies listing S-1s.
Many private SaaS organizations think that an IPO or reaching $100M in revenue or ARR (annual recurring revenue) is the endpoint.
But the truth is, SaaS companies present high returns in the public markets, exceeding $100M in income. The United States economy and the worldwide economy have improved dramatically since the 2008/2009 Great Recessions, but SaaS companies have beaten the broader market by a considerable margin.
SaaS Mobile App Trends
Many experts have predicted that by 2022, mobile usage will increase extensively, and more than 73% of the world’s population will browse the internet using their mobile devices. We are in the middle of a growing world, and as every SaaS development company is coming up with the best solutions, the mobile-first approach will serve to develop the future of SaaS.
More software providers will embrace a mobile-first approach in the coming years, optimizing their offerings to suit a host of mobile devices. It means that we’re likely to see an even more exciting range of mobile features for SaaS products in 2021.
Mobile devices require a different set of features and functionality, and by placing their focus on mobile-first design and development, SaaS development service providers will notice a significant increase in their Return on Investment (ROI) in the near future.
AI/ML
When we talk about the SaaS trends for 2021, how can we miss Artificial Intelligence (AI) and Machine Learning (ML)?
Talking about AI, it has been and will be a game-changer worth $15.8 trillion in the next few years. Artificial Intelligence automates monotonous tasks, optimizing business operations, adding to human abilities, and improving productivity.
When a SaaS product is linked with AI abilities, it allows you, as a business owner, to get better value from the company’s data. Thus, you can predict and forecast the future implications of your product and make informed decisions.
Machine Learning, a subset of Artificial Intelligence, is also gaining popularity with its peculiar capabilities. Right from automating responses for better customer experience to streamlining business operations, it has come a long way. As ML is built on a free operational prototype, modifications in it will businesses automate crucial internal operations other than customer service or experience. Machine Learning is the fastest-growing trend, and it is one of the hot SaaS trends observed in 2021.
APIs and integrations
The API (Application Programming Interface) has been a key component of software development for years. With the high demand for SaaS product development services, combining them into an actual business operation occurred. Some companies may want to transfer all their data to a cloud platform, but many actually would instead combine it with their already existing foundation to improve it — and this is where the difficulty occurs.
In the past, the SaaS service provided didn’t offer a perfect integration solution. That failure helped to hinder the work and made them fail their customers overall. They would redirect their customers to a third party to provide the particular APIs, enabling them to combine the cloud solution into their current process.
However, more SaaS service providers manage to offer more refined integration solutions instead of redirecting their customers to third parties.
Wrapping Up
It is quite challenging to transform the world digitally. However, SaaS is making it happen quickly and companies are giving their nuts and bolts to accelerate the process. Thus, it comes as no shock to see the number of trends driving this industry.
Whether you are a startup or an established business, you must not overlook the importance of SaaS in the market. Leverage the latest SaaS trends mentioned here to enhance your product and offerings. It can not only help you enhance your business processes but also set up new avenues in the future.
While there are a number of SaaS development companies in the market, it is equally important to stand out. So, if you are finding ways to beat the competition with the latest SaaS trends of 2021, experts at Quytech can help.
Source: Quytech Medium
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