The SaaS (software as a service) model of licensing and delivering software for SMEs has gained immense traction in the past few years. More companies are shifting from packaged solutions to the SaaS model. Although the packaged software still commands a lion share in the overall enterprise market, SaaS companies like Salesforce has shown that innovation is the key to reach the top.
Previously organizations had to buy and install the software program on their computers which is now a long old story. Today, vertical SaaS has revamped the legacy systems to provide mobile and web versions of the applications that work in the cloud. Additionally, the feature sets adopted by SaaS companies are varied. A lot of SaaS service providers are now focusing on customizing their offerings for specific industry verticals for instance, wholesaling and logistics. This has pushed businesses (esp. SMBs) towards developing SaaS applications.
However, the continued growth of SaaS market makes it essential to learn where the SaaS industry is heading to. The infographic below presents some useful SaaS growth metrics that will help you get a grip of the current state of SaaS industry.
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