Top 5 SaaS Industry Trends In 2021 | SaaS District

Hey guys, welcome back to another video of SaaS District. Today we're gonna be talking about what are the top 5 trends to expect in SaaS going into 2021. 2020 was a huge year for everybody, as you can expect. SaaS was growing like crazy, and I'm gonna share with you guys today what to expect going into the next year. Hey guys, welcome back to another video. Today we're gonna be talking about the top 5 trends to expect to see going into 2021. So starting with number 1, the demand is rising. SaaS is hot, SaaS is growing, SaaS isn't going anywhere, and people are using them on more frequent basis every single day in their day-to-day lives. Even more tools have been built and have come up over the last couple months due to COVID-19, and we expect that to continue to grow as the year evolves. The demand has changed, and that has caused that we needed to accommodate those changes in order to be able to function on a day-to-day basis. According to Cisco, over 75% of all cloud workloads and computer applications will be from SaaS applications. Now, worldwide end users are expected to spend over 18% increase in terms of how much they're spending on SaaS applications compared to last year. So the point of this is if you're in the SaaS industry, you're in the right place to be. Number 2, remote work is here to stay. As you guys know, working from home has been a huge and dramatic change, an unexpected boost in 2020. Obviously that's been due to the pandemic. However, once it's safe to return back to normal, we're going to see one of two things happen. Either we're going to find that people are going to shift to remote work completely and they're going to stick to what's working right now, or they're going to go back to their commuting and their regular office routines. So according to the startup that I found recently, it's an HR and start and payroll platform. They mentioned that they actually think that people are going to stay working from home continuously, that it's going to continue and it's going to be a permanent basis. They actually did a survey and they found that I think 65% of businesses are actually going to continue to support it and they're going to keep that, that momentum of working from home. So that's going to continue. That's what I think. And that even going into 2021, I think the number is going to be about 21% over what it was in 2020. So that being said, what we can expect to see is that a lot more SaaS applications are going to be developed and built to be able to cater to this community of people who are working from home. So there's gonna be a couple of things that people need you know, tools to be able to work better. And that's going to be to help people increase their performance, help them with increasing and improving their productivity, and lastly, be more reliable with their jobs. Number 3, artificial intelligence will be hot. AI is a game-changer technology, and it's going— it's widespread, it's growing rapidly, and we're expecting that the market valuation of AI is going to be over $700 billion by 2027. Now, if you guys don't know what AI is, AI helps business— businesses optimize their process. It helps increase productivity, productivity and efficiency while automating repetitive tasks and supporting human capabilities. AI is actually heading towards a new type of generation and technology which makes it actually more human than ever. And what they're saying is that it's going to be able to predict and understand what you people— what we people feel as their gut feeling or common sense. So what we call that as artificial intuition, which is being able to make decisions and accurately deduct information from very little or partial information, which is going to be quite interesting. And I'm very excited to see that in 2021. Now, other areas where I'll see AI being, you know, growing specifically in the SaaS industry, I would say is in speed. So things will be a lot quicker, things will be a lot more personalized. So personalization will be the second part, and then third will be security. So I think they'll be a lot more secure in terms of how the AI performs. Number 4, low-code or no-code SaaS applications. This is something I really, really enjoy. If you guys don't know what that is, low-code or no-code means creating a new application or building something with minimum coding requirements. So you're off to using something like development toolkits plug-and-play interfaces, drag-and-drop interfaces, and different components to be able to build something without having to code it. So basically what that means is you're able to build something without having a degree in computer science or being a developer in order to build your product that you hope to achieve. Now, a survey has been conducted, and actually many developers have already approved and are agreeing to start using a lot of these no-code and low-code tools inside their development stack, because it doesn't mean that just because you're using a low-code or no-code that you don't need human interaction or developers to be able to use it. But what that means is it makes their job a lot more efficient and productive. So it's not really eliminating the need for developers completely. You still need to have them. But what that is, is that allows them to be able to focus on the stuff that's more productive and more valuable and not be able to have to sweat the repetitive stuff that comes up that, you know, that the tools can do for them. So markets report that the low-code market value going up until 2037 is expected to be over $187 billion. Some of my favorite no-code tools are, you know, Airtable. I really like Bubble, and I also like Webflow. So I'm even more excited to see this, and I'm excited to see what comes out going into 2021 with more no-code tools coming out. Number 5, security in SaaS. Now we talked about remote workers and distributed workers. So as great as that sounds, and with that growth happening, it comes with a lot of threats and issues along with that. Right after the lockdowns came into effect last year, Menlo Security actually found that we saw a huge uptick in terms of social engineering and impersonation attacks on people's identities. So that issue has started. And it's growing at a rapid pace and it's going to continue to go going into 2021. Now scammers are getting more and more sophisticated in terms of how they're able to scam and trick remote workers who are working from home because, and what that's doing is it's leading into a new generation and group of hackers coming out there who want to obviously take advantage of that. So that's another major issue we're seeing in the security space as people are shifting to working from home. Another point to think about is that a lot of new grads coming out of, you know, graduating out of the universities going into 2021, a lot of those entry-level jobs that were there for employees to hire them or employers to hire them are actually all frozen. So you have to think about from their perspective that they're going to have to go to some of these jobs working from home, which they've never done before. And, you know, there's a lot of opportunities for people who are be more vulnerable to be able to take— to be taken advantage of. And another bad news is for chief information and security officers. If that's your role in your company, you can expect to see more bad news for you. There's been seen, and we expect to see more ransomware attacks, you know, both from ransomware hackers as well as nation states. So, you know, you gotta be— you'll have to beef up your security for your company and make sure that you'll be able to handle those threats. So what we'll see along with that is a lot more security-based SaaS applications being built. So to be able to help deal with these problems, both from in order to be able to protect people's identities as well as their systems. So that's it guys. Those are the top 5 trends we expect to see in the SaaS industry going into 2021. If you guys enjoyed this video, if you found it helpful, comment below. What else do you guys expect to see in terms of trends? And, uh, takeaways of what we can hope to see and predict going into 2021. Thanks again. See you guys on the next video.