By Joey Ricard - June 21, 2022
The SaaS (Software as a Service) industry has become an increasingly viable choice for organizations in search of functionality, accessibility, and versatility in a cutthroat business environment. All SaaS predictions point to several billion-dollar increases in the coming years.
According to Gartner, SaaS revenue may reach $370 billion by 2024. SaaS market trends have gained the attention of many investors and owners of small businesses. And they want to keep an eye on the future of B2B SaaS, where it will be in a couple of years.
Popular b2b SaaS companies and SaaS apps like Slack, Zoom, and many others have observed a significant boost in sales and success while assisting businesses to stay open and connected. These signs indicate that this year also, it is going to be another interesting, trendsetting year for the b2b saas industry.
So, without further delay, here are the top nine SaaS industry trends you must know about in 2022!
Currently, the roots of AI have extended to almost every sector of society. And it is expected to make some serious waves in the coming years as AI technology has transformed into a real game-changer, with a market value of almost $740 billion by 2027. It not only optimizes business processes but also increases productivity and efficiency while automating repetitive tasks, and supporting human capabilities.
Due to its ability to personalize content and gain a data-driven understanding of the audience, more and more industries are adopting AI, leading to its widespread popularity. So, with AI saas platforms, SaaS businesses can function more smartly than ever, and this creative technology is expected to define how intelligently the b2b SaaS models can work in 2022 and beyond.
People often use machine learning and artificial intelligence interchangeably. But doing so is not correct. A subset of AI, machine learning focuses on processing data and learning capabilities. And guess what! It is believed to give a boost to the SaaS market across the globe!
In SaaS, machine learning is used for automating the responsiveness in applications, letting platforms know about the preferences and habits of customers, processing a large amount of contextual data, boosting customer engagement, and more. It also helps automate the customer service reports, for example, through AI-powered chatbots and internal operations, and empowers SaaS businesses like never before!
Salesforce is one of the worth-mentioning popular b2b SaaS applications that uses machine learning to detect customer behavior patterns that would go unseen otherwise.
Data analytics is another one of the hot b2b SaaS trends in 2022 that you can bet will walk right beside Artificial Intelligence and Machine Learning. Already a critical component of many SaaS services, data analytics help businesses accumulate actionable customer information and streamline their operations.
Remember, digitalization has increased the quantity of data companies collect from various gadgets. We already know that big data is a significant source of insights. Hence SaaS solutions offering centralized data analytics on business information across all touchpoints are expected to be in high demand in the coming years!
The API (Application Programming Interface) functions as a backbone of b2b saas software development. And this is what this SaaS trend focuses on! With the burst of SaaS solutions and adoption by the market, the need to integrate them into an existing system has increased.
Some businesses may want to migrate all of their data to a cloud platform. But many harmonize it with their already existing infrastructure to improve it. As a result, more and more SaaS businesses are now providing greater integration capabilities instead of redirecting their customers to third parties.
Another major b2b SaaS trend to expect this year is the entirely customizable Vertical SaaS. While Horizontal SaaS focuses on clients across any sector and industry, vertical SaaS is completely customizable, targeting clients within specific industries and supply chains.
Some of the best examples of vertical SaaS are healthcare analytics software, retail analytics, and modern logistics analytics. Businesses looking to benefit from specialization are finding vertical SaaS to be a cost-effective, industry-specific solution that allows them to refine the customization of certain features.
As the b2b SaaS industry grows and innovation increases, many developers will focus on customer retention on top of customer acquisition. And that being said, we can expect to see SaaS migrating towards the realms of Platform as a Service or PaaS in the coming years.
PaaS refers to developments that empower businesses to build custom applications as add-ons to their original services. For example, Salesforce and Box launched PaaS-centric services last year in a bid to hold the market share in their niche. So, be ready to see this SaaS trend become more prevalent this year!
Micro-SaaS products are complementary add-ons to existing b2b SaaS platforms or developments created to improve a missing feature or enhance existing SaaS products. The micro-SaaS businesses are run by a small team, sometimes even by one or two people.
These “miniature” SaaS offerings could prove increasingly valuable to businesses across industries in 2022. And this means we can all expect fresh micro-SaaS innovations over the coming years.
In the mobile-driven age, we are free from the shackles of time or geographical location, meaning people can connect with their peers and remain productive 24×7, 365 days a year.
Companies across sectors operate critical parts of their businesses from smartphones or tablets. More employees than ever are now empowered to perform their jobs better by being able to work with dynamic mobile dashboards and various tools.
The latest and most interesting topic in b2b SaaS is the emergence of white labeling. SaaS white labeling is a process where a software-based business builds a fully developed, tested, and finalized platform and then sells it to another company so they can customize and sell it under their branding.
It can also be a part of embedded BI tools, where companies integrate a solution within their application. Businesses that sell their white label products also stand to increase their revenue streams by selling their platform framework to different startups and brands.
Whether it’s a small business or a giant one, the competition to digitize business operations is getting more intense every day! And now that the number of businesses and industries that want to ooze the maximum benefit of SaaS is growing, keeping an eye on the SaaS trends is crucial more than ever now to ensure success for your b2b SaaS business.
Think your business is caught amidst the SaaS cyclone? Then stop worrying and get in touch with us, Klizo Solutions, a leading SaaS development company that offers the most popular SaaS services. We can help you integrate SaaS into your business or with the seamless integration of the latest saas industry trends 2022.
We are your one-stop solutions for making your online business grow stronger in the constantly changing digital business environment!
Joey Ricard
Klizo Solutions was founded by Joseph Ricard, a serial entrepreneur from America who has spent over ten years working in India, developing innovative tech solutions, building good teams, and admirable processes. And today, he has a team of over 50 super-talented people with him and various high-level technologies developed in multiple frameworks to his credit.
