Since we are living in a digitalized world, the SaaS industry has progressed remarkably against the pandemic and its challenges. Today, SaaS (Software-as-a-Service) solutions are a chunk of almost every commercial workflow. It’s a given because of these offerings’ accessibility, versatility, cost-effectiveness, and agility. With SaaS trends taking over the industry, a lot is set to change in the technology world. We have curated relevant facts about SaaS mechanisms and trends so that you don’t have to!
Today, Software-as-a-Service (SaaS) solutions are a part of nearly each business workflow. However, a lot is unfolding with SaaS coming into play – pricing policies are changing, new technologies such as AI and Machine Learning are shaping up the near future. Some of these changes seem superficial, but they may have a significant impact on the operational costs of a business. Others are critical and require close monitoring to see how they pan out.
During the ordeal of the pandemic, SaaS – in FinTech, Databases, Multimedia, Automation, cyber security, and the IT sector overall – saw a stable capital flow, whereas the entertainment, travel, sports, and hospitality industries saw a hit. However, online banking, payments, online delivery apps, OTP Platforms, and various online portals saw a visible surge. This made sure that the SaaS Industry drew sharp attention from investors across the globe. The compliance requirements shaped by the GDPR and CCPA unlocked new investment opportunities for SaaS vendors who quickly incorporated privacy regulations into their applications. A notable trend to focus on is that SaaS sellers will include more free trials in their pricing plans. Typically, organizations use more free apps than paid ones; but there has been a great transition to paid customers for trial periods in recent times.
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