The future of the SaaS industry

February 25, 2020

In today’s business world Software-as-a-Service (Saa) isn’t simply focused on saving money, but also on providing a convenient solution. SaaS services enable businesses to avoid having to be concerned with software maintenance and the simplicity of accessing a system from anywhere. The sheer convenience of SaaS means that cloud-based services are the primary choice of many companies when determining a new system.

Enhanced Connectivity – Connecting to the internet is increasingly performed on mobile devices. This is somewhat related to the rising popularity of cloud-based products, enabling the user to access a service from anywhere, and on any device. In terms of SaaS, this means an accelerated movement towards mobile-development, focusing on creating products specifically for mobile services.

A maturing market – In the beginning, most platforms were managed by a select few companies. This resulted in relying on certain suppliers, making it more challenging to use alternative services from other providers. As the SaaS market has expanded, this process is changing, with more open platforms available and capable of working alongside other services. The industry is gradually moving towards a singular, secure sign-on enabling access to a number of different systems.

The influence of Artificial Intelligence – AI is a rapidly developing market and is likely to play an important role in the future of SaaS services. For example, Google has confirmed that it plans to create more AI within its applications to improve user efficiency. AI is highly effective and delivering vital information and insights from large data sets. This will allow future systems to incorporate intelligent and intuitive decisions for the user. Predictive analytics will also improve overall efficiency for businesses.

Security Challenges – Security continues to be a key challenge, particularly with the rise of data being shared on the cloud. SaaS businesses are acknowledging that there are many security concerns with data. For the future, developers will need to take more of a proactive approach towards monitoring and controlling potential threats and ensuring they have an adequate procedure in place should a cyber attack occur.

Maintaining Profits in SaaS – SaaS is being implemented by more and more businesses, including a number of smaller ones. As a result, there are a number of new business opportunities for service providers. Payment models are gradually making a transition from a standard monthly subscription to a transaction system, allowing customers to pay for what they actually do.

In the future, SaaS is expected to continue growing and will likely become a standard in software delivery. With rising automated services, any existing barrier that is hindering some uptake of the SaaS model will likely diminish.

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