The Rapid Popularity of SaaS
As soon as SaaS was introduced it became certain that this platform would take over the market by storm. SaaS has been a common choice for business software for a long time and continues to hold its ground due to its numerous benefits such as:
The major reason for relying on SaaS for businesses is the connectivity it offers. SaaS provides the opportunity for business employees to connect via cloud from any place at any time. It eliminates time loss and maintenance costs and speeds up processes.
Many businesses that preferred on-premise platforms are now switching to SaaS for continuity in workflow and cost-saving solutions. SaaS has seen much rapid growth since the covid 19 when businesses required solutions to work continuity and also bypass financial struggles.
Why SaaS is Expanding?
The covid 19 hit has magnified the importance of SaaS more than ever. The efficiency and flexibility offered by SaaS are what the world needs at the moment and in the future as well. After the pandemic, many businesses have shifted to hybrid or online working models which is only possible when working over the internet is possible. This is the one great drawback of on-premise solutions that SaaS is a more sustainable replacement for.
The Growing Competition
Due to its increasing popularity, the SaaS market is filling with competitors endlessly. What used to stand at $44.4 billion in 2017, is now estimated to reach a massive $94.9 billion by 2022. Due to the increasing competition, users have more and more leverage and as a result, it turns out to be the cost-saving solution that businesses are hungry for. The competition also promotes innovation, flexibility in contracts, and reduced prices which is a win-win situation for the users.
Another reason for SaaS popularity is the fact that its scope is quite dynamic. It fits to all user needs regardless of who the end-user is. Both B2B and B2C consumers are targetted by SaaS platforms and the flexibility to tailor-fit applications to users’ needs makes it all the more interesting.