Growing Trends and Start-Ups in SaaS Technology
There has been a lot of buzz around cloud computing technology and all the technologies encapsulating it. One of the technologies is Software as a Service (SaaS). Its popularity has increased due to its simple accessibility through the internet. It eliminates the need for having any infrastructure. According to Fortune Business Insights™, the SaaS market was valued at USD 130.69 billion in 2021 and is expected to reach a valuation of USD 716.52 billion in 2028 at a CAGR of 27.5% during the 2021-2028 period. The technology is helpful in Enterprise Resource Planning (ERP), document management, and Customer Relationship Management (CRM). The advantages of SaaS include access to sophisticated applications, pay-per-use, free client software, mobilization of work force, and access to application from anywhere.
SaaS is a growing technology in cloud computing. Making it a viable choice for companies, it has become a reliable option for numerous business industries and models. This popularity is due to its simplicity, accessibility, security, and connectivity. SaaS refers to a software that allows users to connect and make use of cloud-based applications on the internet. It is also known as web-based software, hosted software, or on-demand software. Organizations use SaaS software to provide customers to create, develop, update, and host the products themselves.
Some start-ups that are providing compelling innovations and future solutions are as follows:
Passbase was founded in 2018 in Berlin, Germany. The company provides its services to financial companies. With companies moving online, identity verification has become critical. Passbase provides flexible identity tools that provide intuitive ID verification in Android, web, and iOS. The company offers its support services in around 190 countries and thousands of ID types.
Clubhouse.io is a startup based in the U.S., founded in 2014 by Kurt Schrader and Andrew Chills. It is one of the top companies that provides SaaS solutions that allow management of software development projects. It provides opportunities for companies to follow Agile, Scrum, and Kanban. The company portfolio of Clubhouse.io includes Geckoboard, Lingo Live, ChargedUP, and Marker.io.
CoSchedule is based in the U.S. and is one of the fastest growing startups in North Dakota, with over 9,000 clients in more than 100 countries. It was founded in 2014 by Garett Moon. It is a platform that helps in creating roadmaps & schedules and promotes & collaborates for projects. The growth of the company is attributed to its use of one-metric-that-matters (1MTM) framework.
ProtonVPN is a Swiss-based startup that improves focus on security, increases speed differentiators, and has no-ads version of its VPN along with a free version. The company was started in 2014 in Geneva, Switzerland providing services in 61 countries.
Netcrumb is a British-based company started in 2018 by Dragos Ivanov. It is a website creator that requires no coding. A fully functional WordPress website can be built in no time. The company is a viable option for organizations that are starting with their SaaS product.
Calendly was started in Atlanta, Georgia in 2013. It is a digital calendar that lets the company’s teams to book and schedule meetings and appointments in a systematic manner. The platform has over 10 million monthly users as of 2021.
Beamer is one the latest SaaS startups from Delaware, U.S. by Mariano Rodriguez and Spencer Coon. The company allows to engage and update by providing notification center, changelog, and customizable widgets that can be embedded in the product or the website.
The future of SaaS technology lies in the new trends that are expected to change the future applications. Artificial intelligence, machine learning, integrations, micro SaaS, and vertical SaaS are the growing trends of SaaS technology. Companies have been using these technologies to broaden their spectrum to create shift in customer services.
- Artificial intelligence is one of the innovative technologies that offers services of hype-customization that helps in catering of B2B and B2C markets.
- Machine learning is used in SaaS platform salesforce, helping in detecting customer behavior patterns.
- Integrations in SaaS allows the elimination of human error.
- Micro SaaS helps in creation of smaller and flexible products that are required by small organizations.
- Vertical SaaS provides products that are created to cater to narrow audiences particularly for a niche market.
The future of SaaS also depends upon the growth of the internet. As the internet grows and spreads, it will pave a way for new generation of SaaS tools and applications. A wide variety of applications and tools will give companies better service in communications, sales processes, and record keeping.