The Novel Coronavirus has disrupted all the businesses and changed the way they work! Regardless of the type of industry or business, everything has turned upside down with its impact! The world is learning new positive things such as sanitizing hands and personal hygiene, wearing masks, social distancing, etc.
In addition to this, most of the industries are looking for new trends in their respective businesses and adopting them! One such industry is SaaS (Software-as-a-Service). A report suggests that the Indian SaaS market will grow up to $20billion in 2022 with an annual increase of 50%.
With these stats, how is the SaaS industry for now? What can we expect for the future? Will it bounce back and uprise? We have answers here!
How is the SaaS Industry prevailing in this Pandemic?
This SaaS industry has been moving forward even in this pandemic. Wondering how? Here are a couple of reasons:
Right off the bat, the stock market for SaaS development and Cloud Solutions Companies is high every time. Hence, most of the Venture capital raise funds easily with increased liquidity.
Secondly, most of the categories of SaaS are uprising since March 15. Digital Transformation has been happening. It includes factors such as Work from Home, etc.
Employees are Working from Home, most of the companies are making use of this strategy, they are using SaaS products such as Zoom, Slack, and other major tools. Theses tools have facilitated collaboration and manage the process effectively in this remote situation.
Moreover, post-pandemic can experience new trends bringing in new business models. SaaS companies will start creating new products that can improve the efficiency & productivity of enterprises. Hence, the thing is SaaS companies should figure out the pain points and problems prevailing in the situation.
They should work on different strategies to develop additional and innovative solutions and come up with a product to enhance the business amidst the pandemic.
To Know More Visit: Corona Virus Impact on SaaS