Software as a service, also known as SaaS, is a highly cost-effective software solution that offers a lot of agility for businesses. Many companies are increasingly adopting Software as service solutions as they realize what a reliable option it can be for numerous business models and industries. SaaS has been growing at rapid rates during the past several years.
There are thousands of SaaS options today for small and big businesses, and it can be very hard for SaaS companies to differentiate themselves and find a competitive edge.
Enterprise software as a service adoption
The enterprise software as a service is a mature market, however, SaaS accounts for less than 15% of total enterprise software spending. However, the market is big and the forecast is that all SaaS segments will grow substantially all over the world in the coming years. Smart businesses are increasing their IT budgets to replace current outdated infrastructure and support the digital transformation initiatives. Adopting cloud-based infrastructure will allow larger companies to drop their expenditure of the total operating costs.
You need to closely monitor how software is used by businesses to understand what’s loved most and thus spot some trends that are on the rise. Studying the data of SaaS expenditure will help your business make better decisions regarding your own money and reveal new opportunities. One major achievement of the SaaS world in 2018 was that the spending gap in the software vs. hardware battle increased, as companies started spending more on SaaS than hardware.
In this blog post, we will reveal the 5 Software as a Service trends of 2019 that you should follow, in order to be effective and successful: