Figure shows the revenue forecast of cloud application services from 2018 to 2022. Concerning future prospects, there is a relative tendency for the growth of the Saas based industry and its increasing aspects of opportunities.
In order to stay ahead of competitors, Saas companies must engage and adopt a variety of modern technologies including AI, low-code development and many more.
In this article we will take a closer look at some of the latest Saas trends and get a sense of future aspects of this service based business model.
AI is is one of the most important innovative technologies that will most probably bring disruptive change to the SaaS model. AI models allow hyper-personalisation which brings a higher rate of customer satisfaction in the markets of B2B, B2C. AI enables features such as high-quality support services, advanced user guidance and onboarding or provides dynamic pricing.
Machine Learning is a subset of artificial intelligence that focuses on learning capabilities and processing data. ML allows platforms to learn about customers? preferences and habits, enabling businesses to make their products more usable and intuitive. ML is optimising internal collaboration and operation as well as increasing customer engagement. ML ensures superior data security via advanced pattern recognition.
Pay-Per-Use (PPU) model looks more appealing to clients. This model can stimulate users to use a product. This model enables a user to rather use a product than having to buy it. In other words, the more a customer uses the product the more they pay.
A micro SaaS business or product focuses on solving a problem in a niche market, using minimal resources. Ultimately, a Micro SaaS business comprises of a small team, with small costs, and a small dedicated user base. It?s about keeping things minimal and controlled. There are numerous Micro SaaS ideas such as CRM for freelancers, content planners, instagram post automators, or bookmarks for designers.
Low-code is a visual approach to software development that optimises the entire development process to accelerate delivery. With low-code, you can abstract and automate every step of the application lifecycle to streamline the deployment of a variety of solutions. Low code tools are capable of building a highly customisable website or user interface as an example.
Source of figure: https://unoiatech.com/micro-saas-ideas/
Other sources: https://www.priceintelligently.com