Most Popular Characteristics of Software-as-a-Service
Tags: saas, api, security, development
Published: 2023-09-23 21:00:25

Software-as-a-service (SaaS) offers web-based software applications across domains. Users can remotely access business applications related to accounting, customer relationship management (CRM), enterprise resource planning (ERP), human resource management (HRM), finance, etc.
Numerous SaaS solutions in the market are available via cloud providers like AWS, Azure, and GCP, each offering unique and distinct features.

Here are some key stats related to the SaaS industry: 

- The worldwide SaaS market is expected to experience a significant compound annual growth rate (CAGR) of approximately 25.89% between 2022 and 2028, ultimately reaching a market value of about [USD 720.44 billion](https://www.globenewswire.com/en/news-release/2022/06/06/2456875/0/en/The-Global-SAAS-Market-is-expected-to-reach-a-value-of-USD-720-44-Billion-by-2028-at-a-CAGR-of-25-89-over-the-forecast-period-2022-2028-SkyQuest-Technology.html).
- It is anticipated that by 2025, [85% of the software](https://explodingtopics.com/blog/saas-statistics) businesses use will be SaaS.
- According to Harvey Nash's Technology and Talent study 2021, [73% of corporate executives](https://assets.website-files.com/5da4969031ca1beeb3e008e0/605c56307ee2be18862e9456_HarveyNashGroupTT2021.pdf) use SaaS solutions to achieve their business goals.
With many SaaS solutions available, enterprises need to understand the most popular characteristics of SaaS. It's important to make the right decision when choosing Saas solutions that are transforming industries and driving innovation.

## 10 Most Popular Features of Software as a Service (SaaS) in 2023-2024 
SaaS is a market that has the potential to bring in between [$5 million and $100 million](https://www.zippia.com/advice/saas-industry-statistics/) in annual recurring revenue, which makes it more attractive for companies.
In 2023-2024, several key features of SaaS will tend  to dominate the industry:

- Scalability 
Scalability, a key component of SaaS, enables your software solution to expand along with your company. Whether you're a budding startup on the fast track to expansion or a well-established company venturing into new territory, scalability ensures your software stays snappy, cost-effective, and ready to tackle whatever your users throw at it.

For instance, a streaming platform like Netflix can dynamically scale its servers to handle the increased demand for content streaming during peak hours.

- Low-code & no-code integration
Gone are the days of complex coding and development bottlenecks. The rise of low-code and no-code SaaS tools empowers non-technical users to create applications and automate workflows. 

For instance, platforms like Microsoft Power Apps and Salesforce Lightning empower users to build custom applications without coding expertise. Cross-platform tools and SaaS APIs enhance integration possibilities, enabling seamless connections with other software.

- Billing modes
SaaS providers diversify their billing options to cater to a broader range of customers. In addition to per-user, per-month pricing, businesses can now opt for pay-as-you-go, quarterly or yearly billing plans. 

Some SaaS providers even offer permanent licenses for long-term stability. This flexibility in billing options caters to different customer preferences and often makes SaaS more affordable than traditional on-premises software. 

It also allows businesses to adapt payment structures to match their budgetary constraints.

- Unified security
With cyber threats on the rise, SaaS solutions are doubling down on security. This includes the security of applications, with increasingly common features like encryption, two-factor authentication (2FA), and biometric authentication. 
Moreover, data security is crucial, particularly when working with sensitive user data. Also, compliance with data protection laws like [GDPR](https://gdpr-info.eu/) and [CCPA](https://oag.ca.gov/privacy/ccpa) and achieving certifications like [SOC 2](https://www.checkpoint.com/cyber-hub/cyber-security/what-is-soc-2-compliance/) are prerequisites for SaaS providers.

- SaaS deployment
SaaS platforms are designed for multi-tenancy, meaning multiple users or organisations can share a common infrastructure and codebase while maintaining data isolation. 

SaaS providers automatically provision resources, reducing the burden on IT teams. Automatic provisioning of resources ensures that businesses can scale up or down effortlessly, optimising resource allocation for maximum efficiency.

Integration with third-party connectors & tools
Another amazing feature of SaaS is its ability to integrate seamlessly with other tools and services. Through open integration protocols like [RESTful APIs](https://docs.digitalsamba.com/reference/rest-api), businesses can easily connect with third-party connectors and proprietary tools. That provides them with the capability to automate their workflow processes.

For example, SaaS can connect with databases like [Google BigQuery](https://cloud.google.com/bigquery) or [Snowflake](https://www.snowflake.com/en/), helping businesses make smarter decisions by getting important information.

- Accelerated feature delivery
SaaS providers use Agile development methodologies more frequently to deliver additions and upgrades based on real-time client feedback. 

Furthermore, Proactive application monitoring helps identify issues and provides product updates to streamline the user experience continually. 

This iterative approach ensures that SaaS solutions remain constantly adjusted to match the shifting needs of businesses.

- Security & compliance audit
SaaS products are like digital fortresses; they're getting even better at keeping your data safe. Integration of regular security and compliance checks and audits that show their dedication to keeping your data secure and following regulations is becoming popular with vendors. 

These audits help to build customer trust and reassure them that their data is protected and the service adheres to industry best practices.

- AI-powered SaaS
Artificial intelligence (AI) is incorporated into SaaS products to improve functionality. AI analytics don't just show your business data but also tell you what to do with it. As such, machine learning (ML) algorithms automate tasks and improve predictive maintenance.

The AI-powered SaaS is automating industries from healthcare to finance by offering smarter solutions. For example, Customer Relationship Management (CRM) SaaS platforms employ AI for sales forecasting, lead scoring, and personalised recommendations.

- Customisation & personalisation
[White-label](https://www.digitalsamba.com/blog/white-label-services-skyrocket-revenue) SaaS solutions enable businesses to customise and rebrand the software to suit their unique requirements. This promotes a positive brand identity while also enhancing the user's experience. 

Furthermore, companies can integrate white-label SaaS into their existing workflows, maintaining a consistent look and feel while benefiting from the flexibility of customisation.

## Discover the power of Digital Samba's API and SDK
Ready to make your video meetings smoother and more versatile? Enter into the world of [Digital Samba](https://www.digitalsamba.com/)'s API and SDK solutions.

Integrate our top-notch video conferencing features into your apps and platforms without any hassle. Whether you're building a collaboration tool, a virtual event platform, or enhancing customer support with real-time video interactions, our API and SDK provide the foundation you need.

Unlock a world of opportunities with Digital Samba – your partner in creating the future of online meetings and collaboration!

[Talk to our sales team](https://www.digitalsamba.com/contact-sales?hsCtaTracking=70d42898-512c-46ae-8aff-7a4a00dd1560%7C482df03b-90c5-409e-8af2-b2313c53adff)!