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The SaaS industry is forecasted to see a worldwide rise of 17% in 2022 with the cloud application services rising from $101,480 Million in 2020 to reach $138,261 Million in 2022, as stated in a report by Gartner.
All this points out one single thing – 2022 is going to be the year of SaaS trends. With this comes innovations and new opportunities, so here we’ve enlisted 5 latest SaaS trends you should keep an eye on for 2022 that you should know about:
- Artificial Intelligence
- Decentralized Databases
- Vertical-specific SaaS
- Mobile Optimization
SaaS Trend 1: AI for SaaS
Artificial Intelligence and Machine Learning have blended into every part of today’s life and SaaS is no exception, thus it has to be the first thing we mention in this blog. Since the 1950s, AI has attracted enormous attention and opened horizons previously only possible in sci-fi movies like Chappie or I, Robot.
But now from Apple’s Siri to Windows Cortana to Amazon’s Alexa to the website chatbots, AI has touched almost every aspect of this industry. AI is used to deal with gigantic amounts of data. This eventually gives companies the power to automate many customer experience processes and tedious tasks, such as training, customer interactions, running marketing campaigns, upselling, in short, a whole new customer service.
Dynamic Pricing: Adopted by companies like Uber, Amazon, and Airbnb, the dynamic pricing model uses AI and Machine Learning to analyze the data they receive and readjust their pricing based on the demand, market conditions, customer behavior, and various other aspects.
Predictive Analytics: This might be the most important AI capability, as it empowers an enterprise to identify and analyze not just what customers are doing now, but what they will do in the future. Tracking historical data and forming patterns of what a consumer or user will most likely do like open an email, renew a subscription, or maybe buy a new product. Having understood this, you can personalize your communications for a much better user experience.
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