5 SaaS business ideas in 2020
SaaS business investments have always been remarkable and promising. It is projected that by 2020 the public SaaS market will reach $157 Billion. Also, 85% of small businesses will be investing in SaaS solutions in 2020.
Ideating for a new business we need to understand what are the trends of SaaS to follow in 2020.
1. AI & Machine learning — Self-learning is one of the most important trends for the SaaS business idea to consider. Each and every technology is using AI and machine learning to automate its output functionality. AI optimizes the SaaS platforms to improve the business processes, increases productivity and efficiency. With the new era business scenario, AI and machine learning of a SaaS tool increase the degree of responsiveness which in turn increases the communication between customers and technology.
2. Vertical SaaS Software — Vertical SaaS software is specifically designed for industries with specific needs. That doesn’t mean that this SaaS software is meant only for the small business industry. Vertical SaaS also provides industry-specific customer data and intelligence along with a higher degree of business value for company operations and increases the transparency of data governance.
3. Micro SaaS — Micro SaaS is to automate specific tasks for specific industries. Typically micro SaaS works for smaller teams, even for 2 people. It is highly effective for add-ons on existing software/ platforms. This mainly helps in repairing missing features in existing SaaS products.
4. Mobilization / Enhancing the mobile experience for users — Almost all of the business owners are focusing on mobile-first mindset which is shaping the future of SaaS. It is estimated that by 2022 around 72.6% of the world’s population will be using the internet using their mobile devices.
5. Platform as a Service — Platform as a service or PaaS is provided to businesses to develop custom apps for their original service. It helps your business to customize and enhances overall business agility. PaaS offerings are robust and flexible in nature making it easy for businesses to integrate.
