Statista - the statistical portal for market research, studies, and data - predicts that the global Software as a Service (SaaS) market will hit USD 157 billion in 2020, virtually doubling its 2014 market size.
According to Technavio, the leading market research company with global coverage, the SaaS market, between 2019 and 2023, will see an incremental augmentation of $60.36 billion.
American financial information website, Market Watch, reports that the SaaS market will continue to grow at a compound annual growth rate (CAGR) of 21.20 percent between 2018 and 2023.
In a market survey carried out by New York-based software vendor Better Cloud, seventy-three percent of the organizations surveyed expressed that by 2020, eighty percent of their applications will be SaaS.
These studies and reports show that the Software-as-a-Service market is growing at a rapid pace, and its growth momentum is set to continue. There is no denying that SaaS products 2020 will be the next big disruptive technology, ready to transform the way global organizations work today.
But, What is SaaS?
SaaS, or Software-as-a-Service, is a software product designed and hosted by SaaS companies. The end-user can access SaaS products via the internet, using a web-based or a mobile application. SaaS companies, often referred to as ‘providers’ or ‘vendors’, determine its operational model, for instance, whether the company will be a B2B or a B2C provider. B2B SaaS companies focus on the specific needs of an organization, helping it to achieve its business objectives.
From Banking, Financial Services and Insurance (BFSI) to e-commerce, healthcare, and the automobile sector, leading businesses are increasingly adopting SaaS products to streamline operational processes, improve decision-making capabilities, enhance team collaboration, and deliver increased user experiences.
Here is a list of the top SaaS companies 2020 that you can look at, to speed up your business growth this year.
piHappiness: One of the top-rated SaaS companies, piHappiness, founded by Ravi Pilagala, is a robust, customizable feedback and survey platform to design content-rich surveys and feedback that helps enterprises interact with their target audience. Offering smooth integration with third-party applications like Microsoft Dynamics, Hub spot, Office 365, and Sales force, piHappiness includes high-grade features, such as real-time alerts and notifications, custom demographic reports, Net Promoter Score, feedback manager, and customer participation confirmation, which make the creation, implementation, and monitoring of feedback and surveys easy and fast.
Zoho: Promising all-inclusive SaaS solutions, Zoho, over the past few years, developed a range of SaaS products, which when applied combinedly, enables a business to operate entirely on the cloud. Considered as one of the first-rate Indian SaaS companies, Zoho’s business philosophy revolves around making superior SaaS products at affordable prices.
Capillary Technologies: A B2B SaaS company, Capillary Technologies allows a seamless engagement between retailers and customers through a variety of digital channels, such as social networks and mobile. Founded in 2008, by Ajay Modani, Krishna Mehra, and Aneesh Reddy, Capillary Technologies offers a comprehensive suite of SaaS products to top retail brands, including Marks & Spencer, Nike, Puma, Peter England, and Pizza Hut.
Hotelogix: Cloud-based SaaS company Hotelogix enables hotel chains to expeditiously manage their business responsibilities like front-desk activities, restaurant operations, and housekeeping. Big hotel chains, mid-market, and budget hotels, in over a hundred countries, adopted Hotelogix SaaS products to streamline their processes.
Chargebee: The brainchild of Thiyagarajan T, Rajaraman Santhanam, Krish Subramanian, and KP Saravanan, Chargebee, established in 2011, is a billing and subscription management intelligence platform. Providing advanced analytics, Chargebee helps organizations automate their billing, scale subscriptions, and simplify their accounting.
InMobi: InMobi’s cloud-based, B2B SaaS products are designed for mobile native advertising. Helping enterprise marketers with smart mobile platforms for ad creation and monetization, the Indian SaaS startup InMobi, acknowledged as a 2018 CNBC Disruptor 50 company, has now expanded its operations to North American and European markets.
Freshdesk: In 8 years, Freshdesk has rolled out a series of SaaS products that bring different customer support channels under one roof, enabling enterprises to provide email, phone, web, mobile app, and social media support via a single software. Freshdesk, today, has over fifty thousand customers around the globe.
BuildaBazaar: Specializing in mobile responsive e-commerce websites, e-commerce consulting, customer service, and online store development, BuildaBazaar, founded in 2011, is one of India’s largest SaaS companies. BuildaBazaar provides agile e-commerce platforms with payment gateway integrations to businesses of varied sizes.
Vidooly: Rated as one of the leading video analytics SaaS companies, Vidooly specializes in content strategy, video analytics, media planning, and video marketing. The company creates SaaS products for around 4.5 million video creators throughout the globe, to provide them with video engagement and audience overlap scores, publisher rankings, brand safety scores, audience insights, and viewability scores.
Plivo: A worldwide carrier services provider for SMS and voice, cloud-based API platform, Plivo, focuses on Outbound IVR, Phone Blast, Call Tracking, Voice Broadcasting, SMS Gateway, Cloud IVR, Voice API, Telephony 2.0, WebRTC, SIP, VoIP, SMS API, Cloud Telephony, and Web 2.0. The company develops top-notch SaaS products that help organizations add SMS and voice capabilities to mobile or web using HTTP APIs.
Over the past few years, there has been a dramatic rise in the number of SaaS companies across the industrial spectrum, all set to transform the business landscape in the coming years. One such Dubai based company is piHappiness, which, with its innovative SaaS products, is revolutionizing the process of feedback collection and monitoring.