Jason M. Lemkin describes SaaS/cloud buying trends: a rapid surge peaking in Q2 2021 (71% growth), followed by a multi-quarter decline through 2021–2022 with a low in Q1 2023, then a rebound beginning in Q2 2023 and continuing into Q4 2023 and early 2024. He references sasser.com tracking and a chart showing these movements.
You can see that, as we all know, cloud buying, SaaS buying went on a tear in 2020 21, and it actually peaked in Q2 of 2021. It peaked with insane 71% growth. If you look back at the old saster posts in 2021, it was just incredible how everybody was growing. Everybody was growing. And then it went into a decline. It went into a decline quarter after quarter through 2021 and 2022, and hit rock bottom in Q1 of 23. But it is back. It is back in Q2, in Q3, and now into Q4, early signs of 2024. So this is a compelling chart, and certainly it does seem like most folks bounced off lows at the beginning of 2023. We've. We've also tracked that on sasser.com data.
