Software as a Service (SaaS) is one of the most admired and adopted business models, providing increased ROI for companies and users alike, creating a win-win situation for all involved. Gartner predicts that by the end of 2021, end-user spending on public cloud services will reach $396 billion, projected to increase by 21.7% in 2022 to $482 billion, with approximately $171 billion of this occupied by SaaS.
Software as a Service (SaaS) is one of the most admired and adopted business models, providing increased ROI for companies and users alike, creating a win-win situation for all involved. Gartner predicts that by the end of 2021, end-user spending on public cloud services will reach $396 billion, projected to increase by 21.7% in 2022 to $482 billion, with approximately $171 billion of this occupied by SaaS.
From software development to the entertainment and finance industries, SaaS application development solutions have permeated almost every niche. Today, many examples of SaaS applications are visible around us. Before diving into popular SaaS examples and their companies, let’s first understand what exactly the Software as a Service model is and why so many businesses are inclined toward investing in it.
There are three major cloud-based services: SaaS, PaaS, and IaaS, with SaaS being the most popular. It is a cloud-based model in which all the maintenance work of software, including updates, delivery, and improvements, is managed by the operating organization. Users only need to pay subscription charges on a monthly or yearly basis. Many popular SaaS-based services are available for free with certain limitations, like Google Drive and Slack.
The most remarkable feature of web-based SaaS apps is that anyone around the globe can access the data by simply logging in. This means there is no need to store data on a computer's hard drive. Sounds amazing, doesn’t it? Anyone with an internet connection and login credentials can use the software.
In this unprecedented time of the COVID-19 pandemic, these SaaS applications have grown enormously to cater to the needs of remote working teams. Besides the cloud-based data storage advantage, essential for remote teams, let’s look at other perks that make these SaaS application development solutions even more convincing.
Now let’s look at popular examples of SaaS apps and see how big brands and startups have revolutionized the IT industry by providing successful SaaS applications.
Salesforce is a top cloud-based CRM (customer relationship management) platform aimed at boosting sales by managing leads and prospects in one place.
Zoom is a video conferencing platform that gained popularity during the pandemic for virtual meetings, conferences, webinars, and events.
Formerly known as G Suite, Google Workspace offers applications like Gmail, Google Docs, Google Sheets, and Google Drive, essential for businesses and individuals.
Slack is a business communication platform offering private messaging, group discussions, file sharing, and end-to-end encryption.
HubSpot is a CRM focused on inbound marketing, offering sales processes like social media marketing and content management.
Shopify is a CMS for eCommerce stores, allowing retailers to create functional websites with various plans.
SAP Concur streamlines travel and expense management services into complete automation.
Adobe Creative Cloud offers applications for graphic design, web design, and photo & video editing.
Netflix is a subscription-based streaming service offering a variety of television shows, movies, anime, and documentaries.
Jira is a project management tool for developers and project managers to track and manage software development workflows.
SaaS signifies a new way of doing things, allowing you to reach a larger audience, launch apps quickly, and streamline business operations. SaaS software allows you to focus on core businesses while removing the hassle of maintenance and upgrades. This is why the number of SaaS development agencies has nearly tripled in recent years.
For software providers, SaaS offers recurring revenue, faster release cycles, regular upgrades, stronger customer relationships, and more efficient maintenance. Thus, SaaS is a win-win for all parties involved. As long as we have the internet, the demand for SaaS will only continue to grow.
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Prashant Lakhlani Wednesday, July 10, 2024
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