What Is Software as a Service?
The emergence of new technologies and trends has made subscription services the new norm. The same can be said for many enterprise software as well, as Software as a Service has been transforming how businesses and organizations streamline their operations. According to Fortune Business Insights, the global SaaS market size in 2023 was valued at $273.55 billion and is projected to grow from $317.55 billion in 2024 to $1.2 trillion by 2032.
SaaS has become a popular model of cloud computing, and many businesses are taking advantage of the trend. Madeline Clarke, writing for TechRepublic Premium, presents this resource on SaaS to educate readers on the cloud-based software model, its pros and cons, and how this trend may shape the future of enterprise software.
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FORMS OF APPLICATIONS
SaaS applications can serve a range of purposes, typically depending on the type of business that will be utilizing them. But to understand the various forms, you should first know the difference between horizontal and vertical SaaS.
Vertical SaaS: Applications are typically geared more toward a specific business sector or type of organization. Its features are fine-tuned to meet the needs of those industries and tend to be more customizable and attuned to the unique needs of the market it is servicing. A SaaS application that manages patient appointments would be an example of a vertical SaaS used by businesses in the healthcare industry.
Horizontal SaaS: Applications can be used by companies across multiple industries, as their capabilities are applicable across many business settings. For example, SaaS solutions that manage customer relationships or provide team productivity tools would be considered horizontal SaaS applications.
Strengthen your SaaS knowledge with our in-depth 10-page PDF. This is available for download at just $9. Alternatively, enjoy complimentary access with a Premium annual subscription.
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