The SaaS market is currently growing by 18% each year.
As the economy shifts to more sustainable, streamlined models of operation, cloud-based SaaS (or Software as a Service) products and solutions are realizing unprecedented growth.
The subscription-based nature of these platforms allows users to quickly innovate with versatile toolsets without recoding their products from scratch.
Furthermore, they are easily scalable to accommodate an expanding user base.
As the SaaS model continues to progress, these four trends will become increasingly prominent in the future for products teams:
1) Micro-SaaS
2) AI Assistants
3) Blockchain Security
4) AI-powered CRM
1).Micro-SaaS Platforms
With the power of SaaS, companies can develop specific models that cater to their needs. Smaller, agile programs are often created with the intention of scaling alongside the organization for a fraction of the costs compared to traditional development.
Service providers are increasingly turning away from standard licensing fees and subscription rates, instead offering a pay-as-you-go model.
These micro solutions are convenient for companies with limited budgets or specific software for a unique purpose. The added benefit is that new features can be easily integrated as the business expands.
2). AI Assistants
Many services offer intelligent assistants, which can be used as a personal dashboard to monitor and control different aspects of their SaaS.
For example, using the AI assistant that comes with Mailchimp (acquired recently by Intuit for billions), users can read and reply to messages and schedule campaigns without ever needing to open the platform itself.
With this type of intuitive integration, smaller companies will compete more effectively with larger competitors.
3). Blockchain Security
Security breaches and cyber-attacks will become more commonplace as hackers gain access to powerful technologies.
SaaS platforms that utilize blockchain technology can help mitigate these threats, as information is stored on a decentralized network rather than in one particular location.
This allows for complete transparency throughout the platform, keeping all records and information readily accessible and verifiable for both sides.
4). AI-powered CRM tech
As user needs expand, customer service will become a crucial differentiator among SaaS providers.
In the future, CRM systems will evolve to accommodate the rapidly changing requirements of today's consumers.
As SaaS products continue to evolve, users will access a vast array of tools and resources that fit their specific needs.
We will take a closer look at these SaaS trends in future posts.
#saasbusiness #saasproduct #saasmanagement #product
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