Software-as-a-service (SaaS) is becoming a more feasible option for companies looking for accessibility, flexibility, and versatility in today’s business world.
Over the last decade, the software-as-a-service paradigm has taken the business world to a whole new level. SaaS-enabled businesses relish significant savings for a variety of reasons.
Its adoption has been happening at a rapid pace and primarily from outside the IT industry.
Today, SaaS has become a primary element for every business architecture. Businesses that plan to gain some competitive edge are now adopting a variety of SaaS solutions.
As a result, SaaS development services accelerate the cloud computing sector, helping enterprises leverage their exceptional segmentation, strategies, and providing excellent features.
According to a recent report by Gartner, Inc., the end-user spending on public cloud services in India is forecast to total $7.3 billion in 2022, an increase of 29.6% from 2021.
This phenomenal increase reflects SaaS’s dominance in the software sector and is a sign that it will be a primary winner in the global market.
But what is SaaS? What are its advantages? And most importantly, what are the most recent SaaS trends to keep an eye on?
This post will answer all your questions in one go.
What is SaaS?
SaaS is a software distribution paradigm in which an external supplier hosts applications and makes them available to consumers via the Internet. It is also known as “on-demand software” and Web-based/Web-hosted software.
In simple terms, SaaS is a way of delivering applications over the Internet as a service. This means users do not require installing or maintaining the software; they can easily access it via the Internet.
SaaS eliminates the need to manage complex hardware and software, helping companies save costs to a great extent.
From small startups to big MNCs, SaaS solutions are used across all business functions. The simplicity, user accessibility, security, and pervasive connectivity are a few critical reasons that make SaaS popular among organizations.
Software and hardware upgrades are handled by SaaS providers, who also distribute updates for hosted applications, removing this burden and duty from clients.
Also, SaaS is a subscription-based software model that does not require an upfront license fee, resulting in cheaper costs. SaaS providers handle the IT infrastructure that runs the applications, lowering hardware and software maintenance costs.
Due to the overall convenience of file sharing and the simplicity of reading and comprehending across systems, SaaS developments improve a company’s ability to promote cooperation between teams and departments.
Most SaaS models have enterprise-level security, which is more comprehensive than many centralized, on-premise systems. Pre-existing backup and recovery methods are in place in SaaS to handle any system outages.
This implies that your company’s data will always be accessible and safe, even if there is a system breakdown.
Top SaaS Development trends of 2022
Let’s have a look at the most promising SaaS developments trends for 2022.
Micro-SaaS, also known as vertical SaaS, is a SaaS product that caters to a single industry. The rapid rise of the SaaS business has resulted in fierce rivalry for a spot in the sun.
As a result, SaaS companies are required to develop new and innovative methods to provide value to their consumers and reconnect with them.
Micro-SaaS suppliers are responding to the changing environment by providing add-on services to current SaaS platforms.
Small teams often manage Micro-SaaS to improve a successful SaaS product by introducing a previously unavailable feature.
You can call Micro-SaaS the future of lifestyle software businesses. A few key ideas of Micro-SaaS are workforce management, journaling, email management, billing and invoicing, training, and mentoring.
Companies using Micro-SaaS:
2. White labeling
White-label SaaS products are usually a combination of software and support services that are rebranded for different companies.
The key benefit of choosing a white-label SaaS product is that enterprises do not require to invest heavily initially. It saves companies time, energy, and money to a great extent in terms of production and marketing costs.
More firms want SaaS solutions to look native when they utilize them for front-facing activities on their websites, via email, and so on. SaaS businesses will continue to respond by charging a premium for white labeling services.
Many SaaS companies are now offering to collaborate with businesses to develop consumer interfaces and functionalities tailored to their specific requirements. This is especially crucial for eCommerce businesses whose entire process is managed through several SaaS solutions.
Top White-label SaaS services you can use:
- Marketing automation: Active campaign, Mautic
- Email marketing tools: InboxArmy, SendinBlue, Moosend
- Content marketing: Constant Content
- Social media monitoring: Social Pilot, Mention
3. API integration
SaaS has made software acquisition, business expansion, and hardware maintenance much more manageable. SaaS has allowed businesses to focus on their core activities while cutting IT costs.
Because of the ongoing demand, SaaS owners are looking for simple strategies to ease their software product development.
APIs, or application programming interfaces, are the most efficient way to integrate ready-made modules into their software and expand their capabilities.
API integration is a critical component of SaaS organizations’ strategic scaling. APIs will transform SaaS in 2022, delivering simple codes for sophisticated functionality across sectors.
Top SaaS APIs to use:
4. SaaS-based Telemedicine app
Medical SaaS solutions help make the transition to remote healthcare relatively easy. It cuts operating expenses and manages large requests while eliminating the risk of spreading illnesses during physical clinic visits.
An immediate medical consultation can now be scheduled much more quickly and efficiently than in the past.
Livi Connect, a telemedicine app, is an excellent example of this trend. This application has become Europe’s most popular app so far; 80% of medical consultants are using it to see and treat patients remotely through online video consultations.
The corporation has developed a new product to screen for Covid-19 symptoms to get a competitive advantage. The business expects to see favorable trends for months to come as it meets the worldwide demand for remote healthcare.
5. AI/ML integration
AI and machine learning are some of the most sought-after developments in the SaaS sector. Sophisticated neural networks, machine learning for pattern recognition, and other critical technologies are used in SaaS with AI capabilities to deliver promising results that keep enterprises ahead of the curve.
AI-based algorithms help organizations in:
- Optimizing processes
- Analyzing and making predictions
- Automating repetitive jobs
- Making smarter decisions
- Improving cost savings
AI-powered reporting systems automate KPI tracking, resulting in more explicit outcomes and even highlighting execution flaws. With its data analytics, computational efficiency, and tailored approach, technology will disrupt the SaaS sector.
Top AI companies in the SaaS industry are:
So, these are a few critical SaaS trends which every enterprise must consider for their future business operations.
Before summing up this post, let’s take a quick preview of why you should go for SaaS-enabled solutions.
- Reduced time to benefit
- Scalability and integration
- Guaranteed level of services
- Easy updates
- High compatibility
It’s time for you to adopt and implement SaaS solutions in your business operations. Here are the critical SaaS solutions that you can implement in your business and relish its perks –
- Communication & Collaboration platforms
- Payment gateways
- Accounting software
- ERP software
- Project management software
The most important thing to remember from the above-mentioned SaaS trends is that this market is still evolving. To accommodate new client demands, SaaS companies must act quickly.
According to the market experts, cloud infrastructure services is the prominent area where the IT world will witness maximum spending.
Emerging technologies are already showing wonders in SaaS businesses around us, and there is a lot more to offer. This shows SaaS businesses are expected to continue to develop.
By reading this post, we believe that you have broadened your understanding of SaaS and will plan to adapt to the current scenario.
If you are looking forward to beating your competition with the most recent SaaS trends, experts at Rapidops are here to help. Feel free to get in touch with us at any hour of the day.
Strategy8 min read
If you’re building a digital product, you want to make sure it sells. Often such a feat is impossible without counterin...
Strategy9 min read
Even behemoths such as Amazon make strategic errors. The failure of the Amazon Fire Phone in 2014 is a prime example of...
Ideas10 min read
Digital product strategy is critical for businesses today. By setting the right priorities and approaches, you can ensu...
Receive articles like this in your mailbox
Sign up to get weekly insights & inspiration in your inbox.
2500 people are reading this blog every week