Unpredictability has been the trademark of the last 12 months, but as businesses look to recover quickly and return to growth, we’re taking a look at the SaaS industry trends set to define 2021.
The SaaS market is predicted to be worth over $60m by 2023, so it’s inevitable that we can expect big changes and growth in the market in the coming years.
What changes can we expect to see? Here are some trends set to define the SaaS sector in 2021…
- Artificial Intelligence
2021 is all about increasing efficiency as businesses learn to adapt to smaller workforces and increased financial pressures. AI creates stability by offering automatic control using pre-planned metrics, so when things change quickly, AI offers businesses some much-needed confidence.
According to Forbes, 2021 is set to bring more sophisticated integration of AI across industries, with a particular influence on the financial sector.
- Vertical SaaS
The SaaS industry stretches far and wide when it comes to service areas, and now vertical SaaS is set to find its place in 2021 more than ever. Vertical SaaS refers to products designed to serve a niche industry, offering more flexibility and industry know-how.
As businesses rely more on great software to deliver the customer experience they’re aiming for, vertical SaaS is due to offer an inviting solution.
- Unbundling SaaS offerings
A one-size-fits-all approach unfortunately, doesn’t fit all. That’s why we’re set to see a rise in the unbundling off SaaS offerings, with a more modular approach allowing companies to flex the software they’re paying for to get what they want from it.
In 2021, expect to see companies demanding a better fit from their SaaS applications, saying goodbye to clunky, complicated software and introducing more streamlined options.
SaaS companies are clearly on a path to offer better options for customers in 2021 than ever, listening carefully to business’ needs and adjusting their offerings to cater for them thoroughly. Looking to learn more about how Workhorse offers business’ a better order & inventory management solution? Check out our features.