SaaS has proven to be one of the best things that ever happened to computing, sending many businesses scrambling to get a hold of such systems. This has led to the popular SaaS market continuing its current growth streak. The sector is seen to reach a whopping $623 billion by the year 2023 at a compound annual growth rate of 18%. This is but one of the many SaaS statistics we’ve collated in this article. Clearly, SaaS currently represents the largest segment of the world market for public cloud services.
To shed more light on this niche market, we have compiled the latest data on market growth, adoption rates and use cases. By the time you’re done with this reading, you will have a better understanding of not only how SaaS has been benefiting companies worldwide but what it can do for your business.
SaaS has been benefiting businesses since its inception, helping companies attract and retain customers while boosting service. They have found tons of applications in different industries, specifically in the areas of marketing, sales and customer service. This development has greatly contributed to the increase in the SaaS market size.
SaaS has also been experiencing growth in the B2B sector, making use of technologies such as machine learning and AI to further improve automation. There are likewise SaaS tools for small businesses that can help them compete with larger companies.
To keep up with the very purpose of SaaS, vendors have been designing their tools to blend well with different software environments through vast arrays of integrations and APIs. Read on to see more relevant SaaS market statistics.
The global SaaS market continues to enjoy robust growth, with the sector seen to reach a total value of $623.3 billion by the year 2020, showing by far the most notable Saas growth statistics. Saas market research has also revealed that businesses and organizations’ push for increased agile and automated processes will fuel this growth.
More and more companies are adopting SaaS technology with those in the retail and consumer goods sectors leading the pack. SaaS consumption, although a global activity, is highly concentrated in the Asia Pacific and North American markets. However, the lack of skilled staff and continued cyberattacks are seen to hamper SaaS growth. The following are SaaS industry statistics worth looking into.
Source: Synergy Research GroupDesigned by
Knowing churn rates—the discontinuation of service subscriptions within a period of time—is important to any business. All companies with subscription-based services are subject to churn and SaaS businesses are no exception.
There are a variety of reasons for churn—a customer finding a new vendor, running out of budget or becoming unsatisfied with a company’s customer service. Here, we provide you with key statistics on SaaS churn rates and how they affect corporate revenues.
Corporate pricing strategies vary from business to business but there are some sectors that adhere to a common pricing model, among which are SaaS businesses. Many of these companies offer free trials and freemium software packages to attract clients. However, what’s quite notable about the sector’s pricing strategies is the fact that businesses seem reluctant to increase their pricing.
They also spend less time analyzing these strategies, a must if profitability is to be maintained. There are B2B strategies that can be used to grow SaaS businesses. Here, we provide you with statistics on SaaS companies’ current pricing strategies and how they have impacted the industry’s profitability so far.
SaaS adoption rates have been going through the roof as more and more companies recognize the advantages that these platforms bring to the table. They have also changed the way businesses manage their processes. Data storage has also changed as all corporate information took a trip to the cloud, making them both secure but easily accessible to users. To give you a better idea of what’s happening on the ground in terms of SaaS adoption, we have listed some of the latest stats below.
Source: 2018 State of the Cloud Report. Rightscale. 2018.Designed by
Marketing, contrary to popular belief, is not a one-size-fits-all process. Companies market different products in different ways and the same could be said of SaaS. Marketing something that undergoes constant changes and has really no physical attributes is both a challenging and daunting task. This is why SaaS companies make use of strategies such as handing out freebies. This is their way of proving their products’ worth and overall value to prospective clients. Likewise, there are SaaS lead generation best practices that businesses can adapt to grow their company. So how are SaaS businesses faring in the marketing area? Below are stats that reflect the current status of SaaS marketing.
Being an inexpensive and maintenance-free alternative to on-premise systems, SaaS has been steadily growing in popularity among many businesses. Proof of this is the fact that most chief information officers are planning to migrate to cloud-based systems in the coming years. This high adoption rate does not come as a surprise as SaaS is known for unparalleled accessibility and pricing flexibility. Here are some of the latest statistics that prove the tremendous increase in SaaS use.
It is undeniable that SaaS has changed the global business landscape. For companies, cloud computing proved to be a boon, allowing them to harness the power of automation without breaking the bank. Some have claimed that these platforms made their organizations more successful compared to other types of systems while others have decided to fully embrace the technology. Small players have likewise been adopting useful Saas solutions, which likewise have been providing proactive customer service, one of its more popular applications. Here are some of the latest Saas statistics software that will give you an idea of how SaaS is being used by businesses.
Source: spiceworks.comDesigned by
The statistics listed in this article are not only meant for users. These SaaS market data can also be beneficial to SaaS companies that wish to boost their bottom lines and experience growth. If you are running a SaaS startup, you can adapt the sales and marketing strategies mentioned above. Also, considering factors such as churn rates, product usage and pricing strategies can greatly benefit your company.
For SaaS end users, these SaaS research reports can walk you through the benefits of adopting these platforms and their potential applications. You can also consider the useful features that these apps have to offer and see if they fit your organization. Finally, knowing how these products are priced can fill you in on how much you should invest in them.
FinancesOnline is available for free for all business professionals interested in an efficient way to find top-notch SaaS solutions. We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website. Please note, that FinancesOnline lists all vendors, we’re not limited only to the ones that pay us, and all software providers have an equal opportunity to get featured in our rankings and comparisons, win awards, gather user reviews, all in our effort to give you reliable advice that will enable you to make well-informed purchase decisions.