Software As A Service (SaaS) Market Could Exceed $600 Billion By 2023
Financialnewsmedia.com News Commentary
PALM BEACH, Fla., July 30, 2020 /PRNewswire/ -- The global public cloud software as a service (SaaS) market has been experiencing consistent growth the past few years and is projected to increase for the next several years. In 2019, SaaS annual revenues exceeded 100 billion U.S dollars according to Statista. They also projected that the global public cloud software as a service (SaaS) market is forecast to reach 157 billion U.S. dollars in size in 2020, more than doubling the market size in 2014. Other reports have projected even higher revenues. According to Finances Online: "The sector is seen to reach a whopping $623 billion by the year 2023 at a compound annual growth rate of 18%... SaaS has proven to be one of the best things that ever happened to computing, sending many businesses scrambling to get a hold of such systems. This has led to the popular SaaS market continuing its current growth streak. Clearly, SaaS currently represents the largest segment of the world market for public cloud services." Together with platform as a service (PaaS) and infrastructure as a service (IaaS), SaaS if one of the three main categories of cloud computing". Active Companies from around the market with recent developments this week include: Business Warrior Corporation (OTCPK: BZWR), Yext, Inc. (NYSE: YEXT), HubSpot, Inc. (NYSE: HUBS), 2U, Inc. (NASDAQ: TWOU), Cloudflare, Inc. (NYSE: NET).
The Statista article reported that: "Sometimes referred to as "on-demand software", SaaS is a software distribution model where the service provider hosts the application at a data center for customers to access via the internet. By subscribing to the service, customers no longer need to maintain the hardware or other resources that were previously required, and instead can access the software simply via a client program or web browser. Human capital management (HCM) software, collaboration software and customer relationship management (CRM) software are among the applications where public cloud SaaS has a high penetration rate."
Business Warrior Corporation (OTCPK: BZWR) BREAKING NEWS: Business Warrior Platform Demand Soars, Increases Subscribers by 20% in July and Launches Revenue Generating Marketplace - Business Warrior Corporation the source for small businesses in America to get more customers, announces the launch of their marketplace and receives FINRA's approval of their new stock ticker, BZWR. The company's results continue to improve as demand increases for their solution with July on pace to have a 20% increase in new subscribers.
In addition to the soaring demand, the marketplace is a big step in Business Warrior's strategy to convert free subscribers into monthly recurring revenues. Since going public through a reverse merger in early February, the executive team continues to fulfill the business plan objectives, reducing debt, generating revenue, and changing the stock ticker.
Proving Demand - Business Warrior is a Software as a Service (SaaS) built for small businesses with a freemium model to maximize engagement and keep acquisition costs at optimal rates. The demand for their solution has been rising consistently while their Average Cost Per lead has decreased each month for the last seven months in a row. July's subscriber growth is on pace to increase by 20% over June's results.
"The demand for our solutions have been much higher than we expected and engagement has been steadily increasing each month, which proves that the problem we're solving is important to small businesses," said Rhett Doolittle, CEO & Chairman of Business Warrior Corporation.
Business Warrior's Marketplace - On July 15th, Business Warrior launched their marketplace, which offers a suite of new solutions to their free subscribers. Each new solution is tied to a problem identified in the subscriber's business. The software automates the process of identifying problems in a business that would usually require a salesperson with a high level of technical expertise to consult on every new account. This enables Business Warrior to scale their solutions with better accuracy, at a much faster pace and lower costs than their competition, without sacrificing margins.
Marketplace services - The marketplace solution solves the main difficulty that small businesses owners face: getting more customers. The base software and marketplace solutions collct thousands of data points about each business, automate as much as possible, and layer in human touch wherever needed. Here are the four main categories the marketplace solutions focus on:
Business Warrior subscribers can also purchase a bundled package to get all four services at a heavy discount.
Increasing Revenue - The most important piece to a freemium SaaS model is the company's ability to acquire and retain new subscribers at a low cost. The company's acquisition per new subscriber has been decreasing each month and their attrition has been almost zero. Now that they have a solid base of subscribers and they're acquiring new ones at the rate that fits their model, they are focused on increasing their monthly recurring revenue.
"Our revenues have primarily been coming from legacy revenue prior to our merger, which have been attritting until now. The plan is that our revenue will be increasing each month from here on out, which is coming directly from the marketplace," Doolittle explained. Read this full release and more news for BZWR at: https://businesswarrior.com/investor-relations/
In the industry developments and happenings in the markets include:
Yext, Inc. (NYSE: YEXT) the Search Experience Cloud company, recently announced the expansion of Yext Answers, the company's revolutionary site search product, into four new languages. Businesses and organizations will now be able to deliver official answers on their websites in French, German, Italian, and Spanish.
Just as it does in English, Yext Answers applies advanced Natural Language Processing (NLP) technology to better understand questions in order to return the most accurate, official answer. Websites powered by Yext Answers in these four new languages are able to handle not only searches with complex language-specific attributes like accents and compound verbs, but also location-based searches.
HubSpot, Inc. (NYSE: HUBS) a leading growth platform, recently launched CMS Hub — a content management system that offers speed, security, and scalability to rapidly growing businesses. Unlike traditional content management systems that become more difficult to use over time, CMS Hub scales in line with business growth and takes the pain out of managing software, enabling users to focus on creating remarkable website experiences for their customers. CMS Hub comprises two tiers, Enterprise and Professional, giving companies the freedom to choose a CMS offering best suited to their stage of growth.
"Marketers at growing companies have a lot of things to think about — their CMS should not be one of them," said Angela DeFranco, director of product management at HubSpot. "Most CMS platforms available today make website management more complicated and painful as time goes by. They put a limit on what's possible. They have a ceiling. But rapidly scaling companies don't. I'm delighted that with CMS Hub, we're offering users a powerful system that removes unnecessary gatekeepers, democratizes the web management process, and makes it easy for them to execute their boldest ideas."
2U, Inc. (NASDAQ: TWOU) recently announced the results of a survey exploring how COVID-19 is impacting the decision-making of prospective students considering entering graduate and undergraduate programs. The data show that, irrespective of discipline, prospective students are more likely to consider online degrees.
The survey of 1,754 prospective students, conducted from June 30 through July 22, 2020, underscores that COVID-19 is driving a paradigm shift in online education. Prior to COVID-19, only 16% of students across U.S. undergraduate and graduate programs were enrolled in exclusively distance-learning degrees, according to the latest federal data on distance education. Data from 2U's survey show that the pandemic will dramatically impact the share of undergraduate and graduate students considering enrolling in intentionally-built online programs as perceptions around the traditional campus experience evolve.
Cloudflare, Inc. (NYSE: NET) recently announced the release of Cloudflare Workers® Unbound, offering a serverless platform for developers with unparalleled flexibility, performance, security, ease of use, and pricing. Cloudflare Workers Unbound allows developers to run complicated computing workloads across the Cloudflare network and pay only for what they use. In addition to being more flexible, Cloudflare Workers Unbound can save users up to 75 percent for the same workloads running on legacy, centralized serverless platforms such as AWS Lambda.
"Cloudflare Workers Unbound is the most compelling serverless platform available," said Matthew Prince, co-founder and CEO of Cloudflare. "I challenged our team to build a platform that didn't just compete with niche edge computing solutions, but would provide developers the fastest, most secure, most flexible, and most cost-effective general-purpose serverless offering — period. I'm incredibly proud of Cloudflare Workers Unbound and can't wait to see what developers will build with it."
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