Today, business software is one of the most used tools by companies, as it offers great solutions. If you're wondering how far this industry has come, what improvements have made the SaaS companies make these tools more sought after every day by businesses, and of course, what’s in store for the future, don’t worry, because next, we’ll show you some of the trends for 2021 on business software:
5G can be described as a technical enabler for IoT and future emerging tech products since 4G operates at a lower speed and consumes major resources which shorten battery life. 5G, by comparison, is anticipated to offer lower latency, greater bandwidth availability, and better data security. Developers will be able to create more powerful apps and users will gain better experiences at a faster speed. The market for 5G technology is expected to reach $667.9 billion by 2026.
This trend is one of the most important since with the passage of time, the digital transformation will accelerate and will increase in the number of consumers, so this translates into a greater amount of data to be carefully analyzed. Companies often use this data to streamline their organization and gain a deeper insight into their customers or users. Investment in analysis-driven software-as-a-service innovations is expected to soar.
In fact, industry experts believe that the investment and value of analytics-focused SaaS models will increase by 23.3% by 2022.
In the last decade, more and more companies have developed a massive trend towards SaaS solutions that comprehensively solve their specific needs. As a result, the size of the vertical SaaS software market has more than tripled in that period. Vertical SaaS is customizable, making it more specific, targeted to clients in specific industries and supply chains. Some examples are health analysis software, retail analysis, or modern logistics analysis. Companies looking to benefit from specialization are finding that vertical SaaS is a cost-effective, industry-specific option that allows them to refine customization of certain features.
The API (Application Programming Interface) has been a fundamental part of software development for years, and this is precisely what our fifth SaaS trend is focused on. With the explosion of SaaS solutions and market adoption, the need to integrate them into an existing business system arose. Some companies may want to migrate all of their data to a cloud platform, but in reality, many prefer to harmonize it with their existing infrastructure to improve it.
By 2020, the global cost of data violations has reached $3.86 million. Add to this the ongoing pandemic and the digital shift that has accelerated, and cybercriminals only get more and more opportunities to carry out new attacks. Solid security measures can prevent fraud, information leaks, malware, rescues, phishing, and other cyber-attacks, looking for cracks in an organization's IT armor.
We have reached the end of this very informative article and you have seen some of the trends and benefits that can bring you business software for SaaS companies, so start today and implement this great tool in your company and take it to another level. This 2021 the trends look promising, so start now!