Top SaaS Trends that will Redefine the Tech Industry in 2022
Working in the tech industry, you must be aware of these SaaS trends.
SaaS is a software distribution model that offers a lot of agility and cost-effectiveness for companies, making it an incredibly reliable option for numerous business models and industries. It’s also popular among businesses due to its simplicity, user accessibility, security, and widespread connectivity. In turn, software-as-a-service platforms streamline business models, resulting in maximum efficiency across the board.
1) Artificial Intelligence
Today, Artificial Intelligence (AI) is deep-rooted in the veins of our society. AI made the top 3 of our list of business intelligence trends for 2022 – and in the coming year, it’s expected to make some serious waves. Artificial Intelligence technology is fast becoming a standard SaaS industry fixture. Autonomous innovations empower businesses across industries with the ability to drive greater product, service, or content personalization while gaining a deeper, data-driven understanding of the needs of their audience. The perfect storm of more return for less input means that with AI, businesses can become more efficient and more intelligent with fewer resources.
2) Machine Learning
Machine learning (ML), a subset of AI, is utilized in SaaS to automate responsiveness in customer service reports and applications, such as AI-powered chat operations with live chatbots. It will also automate the onboarding process of SaaS. As ML is built on an autonomous operational model, new innovations will facilitate software and platforms that empower businesses to automate significant chunks of internal operations other than customer service or experience alone.
3) Centralized Analytics
The third of our essential SaaS industry trends is data-driven. As digital transformation across industries accelerates, businesses across sectors look to data to streamline their organization while gaining a deeper insight into their customers or users. Investment in analytics-driven software-as-a-service innovations is expected to soar.
4) Vertical SaaS
Our fourth forecast for SaaS trends in 2022 is Vertical SaaS. Whereas Horizontal SaaS focuses on clients across any sector and industry, Vertical SaaS is completely customizable, targeting clients within specific industries and supply chains. Some examples are healthcare analytics software, retail analytics, or modern logistics analytics. Companies who are looking to benefit from specialization are finding Vertical SaaS to be a cost-effective, industry-specific option that allows them to refine the customization of certain features.
5) The Growing Need for API Connections
The API (Application Programming Interface) has been a fundamental part of software development for years, and this is precisely what our fifth SaaS trend focuses on. With the explosion of SaaS solutions and adoption by the market, the need to integrate them into an existing business system appeared. Some companies may want to migrate all their data to a cloud platform, but many actually would rather harmonize it with their already existing infrastructure in order to improve it – and this is where the problem lies.
6) Martech Becomes Accessible
Martech—or marketing technology—is a term that refers to the wealth of tools that help brands or businesses improve their promotional campaigns by facilitating better insights, improved processes, and enhanced creative capabilities.
7) Migration to PaaS
As the software-as-a-service industry evolves and innovation increases, many developers or providers will focus on customer retention on top of customer acquisition. That said, in 2022, we expect to see SaaS migrate further towards the realms of PaaS (platform as a service) – developments that empower businesses to build custom apps as add-ons to their original services. The likes of Salesforce and Box have recently launched PaaS-centric services in a bid to hold a strong market share in their niche, and we expect to see this SaaS trend become all the more prevalent this coming year.
8) Greater Focus on Retention & Churn
As SaaS industry growth continues to accelerate, Saas platform providers are working on a wealth of ways to offer maximum value to platform users to increase retention rates and reduce churn. This development means that many existing platforms and emerging innovations will come equipped with fully customizable features and tools that provide access to a wealth of insights designed to help businesses optimize their internal processes while meeting the needs of their customers head-on.
9) More Cross-Platform Organization Tools to Emerge
One of the most pressing problems that modern enterprises face today (particularly large companies and businesses that are scaling fast) is data dilution and fragmentation. According to studies, data ‘scattering’ or fragmentation is one of the biggest barriers to business growth or evolution, as it slows organizations down, creates confusion, and results in rafts of missed opportunities.
10) Low-Code Capabilities
Software-as-a-service platforms continue to expand their reach year by year and 2022 will be no exception. Particularly due to the emergence of ‘white labeling,’ ‘no code,’ and ‘low-code’ platforms, tech startups can bring their SaaS-based content to life with less technical experience.