Software-as-a-Service (Saas) providers can become a crucial ally to small and medium enterprises (SMEs) looking to gain a competitive edge. Subscription management company, Chargebee, reveals the top seven trends to look out for within the SaaS space moving into 2023.
The world of SaaS is constantly evolving, with new trends emerging every year. From the rise of Artificial Intelligence and Machine Learning to the increasing popularity of subscription-based business models, these trends provide insight into how SaaS companies can operate and grow.
Whether you’re running a start-up or SME, or you work in the SaaS sector yourself, staying informed about these trends will help you make strategic decisions and stay ahead of the competition.
Chargebee has combined its industry expertise with Google Trends analysis of top SaaS movements, comparing its growth from the start of 2022 to its close, showcasing which areas are on an upward trend for 2023.
- White label SaaS +614% White label SaaS platforms allow businesses to purchase software and rebrand it as their own. It’s an elegant no-code solution for companies that are keen to enter the software market but lack the resources needed to do so.
White label SaaS has seen a staggering 614% growth in search volume since the start of 2022, and it’s a trend we expect to enjoy further growth in the SaaS market in 2023. - PaaS (Platform-as-a-Service) +95%
PaaS providers offer a complete development and deployment environment, all accessible via the cloud. Through these services, clients can develop, run and manage business applications without the hassle of maintaining the complex infrastructure associated with software development.
According to our research, searches for the phrase ‘PaaS providers’ have increased by 95%. It’s expected that PaaS will grow over the next year, as businesses increasingly shift their focus from management to innovation. - No-code SaaS +93%
The popularity of no-code and low-code tools is showing little sign of slowing down – our research shows a 93% increase in search volume since 2022 commenced. Thanks to no-code SaaS solutions, practically anyone can build a website, open an e-commerce store or manage recurring payments via automation.
The simplicity of no-code platforms is evident in Chargebees’ service. People and businesses can easily set up reporting functionalities and payment gateways without needing any coding experience, making it easier to start an online business. This accessibility is a key benefit of no-code platforms. - Customer churn/retention tools +81%
Subscription-based business models remain popular with consumers – a sector where customer retention is essential. Little wonder then, why the customer retention tools trend is showing an 81% search volume increase since the start of 2022.
As we approach 2023, expect the growth of both lifecycle management tools and subscription businesses to mirror one another. By reducing customer churn, subscription businesses stand to benefit from additional revenue and increased brand loyalty, and customer retention tools can help them achieve this. - Collaboration software +41%
With most businesses continuing to operate in hybrid or fully remote work environments, collaborative tools remain essential. There are promising signs for the future of the sector, too, with a 41% spike in search volume since January 2022.
In 2023, the top collaborative tools will continue to grow. However, this growth will largely depend on their ability to stand out in the crowd, by taking advantage of forward-thinking features such as AR and VR integration and spatial audio. - Vertical SaaS +40%
Vertical SaaS is the practice of building software targeted toward a particular niche or industry-specific standard. Instead of aiming to be all things to all people, the vertical SaaS provider aims its software squarely at smaller market sectors. And, while it’s a relatively new strategy among developers, it’s a trending topic in the SaaS landscape, boasting a 40% increase in search volume since last year. - Metered billing +26%
SaaS providers are solving the pricing model headache by implementing metered billing. Metered billing takes into account your customer’s usage and charges them accordingly.
The model isn’t perfect for every SaaS platform, but it’s a great way of ensuring pricing is fair, and it can offer valuable insights into customer behaviour, too.
Searches for ‘metered billing’ rose by 26% this year, and it’s a trend we expect to continue as consumers look to cut costs and seek out the most bang for their buck.
Chief Marketing Officer of Chargebee, Sanjay Manchanda said: “SaaS providers have become a crucial ally to businesses looking to gain a competitive edge. It’s great to see SaaS providers helping to level the playing field. At Chargebee, we’re particularly excited by the rise of no-code solutions and the way they’re steadily democratising software development and increasing innovation.
“The SaaS sector moves at an incredible pace and without keeping up with current industry trends, it is easy to fall behind. However, if you’re keen to reduce the overheads of your start-up or streamline the workflows of your SME, it’s worth capitalising on emerging SaaS offerings at the beginning of the trend’s popularity.
“If you’re seeking to build upon the successes you’ve had this year or hoping to recover from a difficult 2022, your business likely stands to benefit from investing in the SaaS space and its growing trends in 2023.”