Currently, industries and markets evolve rapidly, and SaaS companies are no exception. With the development of new tech, artificial intelligence growth, a focus on data and security, and some other trends, we can expect a transformation within the SaaS industry.

In this article, you'll find the most popular SaaS trends in 2024 and businesses you should keep an eye on. Most likely, this will remain true in 2025. Keep up-to-date and learn what sectors are worth exploring!

Related: Technology Businesses For Sale

10 SaaS trends & predictions in 2024

1. Artificial Intelligence

AI isn't exclusive to one industry. The transformation is here and it's touching almost every business. "The practical applications of AI cannot be ignored," said Juan Ignacio García, Boopos' CEO in an interview with BBVA.

As García points out, industries have acknowledged AI's value, and every day, it is more common to find SaaS companies that use this tech to gain an advantage in their market or improve their solution. Salesforce, Docusign, and Timely have already jumped into this trend.

In the same talk, García stated "AI is a technology that will undoubtedly impact several business areas in the lending sector, and fintech in general." In 2023, AI's global market size was around US $196.6 billion, with media & advertising, the banking, financial services, and insurance (BFSI) sector, and the healthcare industry as the ones with the top shares.

Generative AI has helped SaaS companies deliver an enhanced service. For example, platforms such as Canva or Adobe are using this tech development to increase the quality of designs and images.

2. Construction in SaaS

The construction industry is yet uncharted territory in the SaaS market. However, digital construction solutions seem responsible for this sector's transformation. SaaS solutions focused on this industry aim to optimize costs and improve project management, productivity, security, and compliance, allow access to projects from mobile, and connect with other SaaS businesses. Paperless Construction, Bentley Systems, and innDex are just a few of the existing solutions in the construction industry.

3. SaaS security

Research from Vendr found that security and compliance purchases increased 25% in 2023, between Q2 and Q3. In this category, we can include subscriptions to password managers, compliance monitoring, authentication tools, and more SaaS tools. It's estimated that the global Application Security Market will reach a US $37 billion value by the end of 2024. But, it's expected this number will increase to US $55 billion by 2029.

4. Data-as-a-Service (DaaS)

Data has become a key element in the past years for company decision-making. In 2023, the global data market was valued at US $307.51 billion. Storing data in-house has its pros, cons, and risks. This created a window of opportunity for Data-as-a-Service (DaaS) with cloud-based solutions storing all the data online. DaaS allows businesses to reduce the costs of data tools and storage within the organization while providing the required security.

5. New pricing strategies

With increased cloud costs, producing SaaS solutions has become more expensive. This trend has opened the path for alternative pricing strategies. Reports estimate an 8.7% inflation rate among SaaS businesses. Consequently, ventures have leaned towards reducing discounts, bundling, or unbundling functionalities.

McKinsey surveyed several SaaS companies about their pricing decisions for the upcoming months. Some of the most common answers are investments in a pricing function, using AI or advanced analytics for pricing guidance for customers, and switching to a simplified packaging structure.

6. Need for new APIs

APIs have been popular for several years. They allow SaaS platforms and tools to connect between them, translating into a smoother workflow for the user. Generally, solutions would redirect their users to third parties, allowing them to create an API between the services they want to connect. However, users would risk having their data exposed while the vendor worked on the connection. Because of this, now it's more common for SaaS companies to offer a wide array of API capabilities with other services that can provide their customers with a complete experience.

7. More focus on customer success

The global customer service market is projected to reach US $22.85 billion by 2030 after reaching a value of US $10.50 billion in 2022. This means that SaaS solutions that promote customer success will be more prevalent in the upcoming years. Companies such as Zendesk and Intercom are integrating AI into their service to deliver a better experience. BCG estimates that using artificial intelligence in a customer service solution can increase productivity from 30% to 50%.

8. Increased demand for low-code tools

Low-code tools are on the rise. By the end of 2024, the global market for low-code tools is expected to reach US $32 billion in revenue. Right now, it's more common to find apps and websites built with the help of no-code tools. Eventually, new SaaS companies will be born without the need for coding experience.

9. More note-taking apps

Throughout the years, we have seen more note-taking apps on the market. Users can choose between traditional ones such as Evernote, Google Keep, or Apple Notes. However, there are also SaaS solutions such as Notion or Obsidian. In 2021, Notion reached a US $10 billion valuation.

10. Growth of vertical SaaS solutions

Vertical SaaS solutions are created to solve the problems of a specific market niche. They only cover the needs of an industry and are crafted by a group of experts with a deep understanding of that industry. By the end of 2026, the global vertical SaaS market is expected to reach a value of US $2.93 billion. Some companies that fall into this category are Birdeye, Classy, and Shopmonkey.

Related: Fastest-growing industries to invest

10 SaaS to pay attention to in 2024

After reviewing the upcoming SaaS trends for 2024, these are our top picks of companies to look out for during the year. We chose them because they fit into one of the trends for the year or because of the growth they have shown over the past years.

1. InVideo

InVideo is a SaaS business that uses artificial intelligence to create videos from prompts. The platform is designed to help companies develop visual resources to promote their brand. We chose this SaaS tool because it uses generative AI to deliver the results users were looking for.

2. Linktree

This social media tool allows creators to have a landing page with several links to different websites. It's used in users' and companies' profiles to promote more content from their main page. Linktree has developed integration capabilities with other platforms, social networks, and tools to make its management more effortless. By 2023, the SaaS tool was worth US $1.3 billion.

3. Groove HQ

This SaaS platform helps users with their customer support management. The tool allows collaboration among the team, creates automated workflows, offers integrations, provides reports and analytics, and is AI-powered. As you can see, this business is aligned with several SaaS trends for 2024. So far, Groove HQ has been used by over 118,000 businesses.

4. Pigment

Pigment is a business planning platform that uses data from different sources and allows users to create scenarios for better decision-making. Customers have seen a reduction in data preparation time by 75%, which gives them more free time to focus on other crucial tasks. This SaaS business uses AI for optimal data analysis. Users can easily find the information they're looking for by using different queries.

5. Miro

Even though Miro has been in the SaaS industry for a long time, this venture is constantly improving to deliver a better user experience. This is one the most popular project management tools in the market, thanks to its functionalities, which are designed to fit the needs of different teams across an organization. In 2023, Miro achieved a revenue of US $560 million and 33% growth rate. Because of this, we believe the company is focused on repeating its success.

6. Vidyard

Vidyard is one of the SaaS companies that integrates gen AI into its functionalities. Users can create videos with the help of the platform's script generator. Furthermore, to offer a smoother experience to their users, Vidyard also comes with several integrations to marketing and sales platforms so users can easily share their videos with leads and current customers. Currently, the company's estimated yearly revenue is set at US $45 million.

7. BambooHR

BambooHR is one of the SaaS platforms designed to solve the needs of the HR industry. Through this service, users can manage HR data, hire and onboard, run payroll, accept PTO, collect feedback for performance management, and more. The solution has superb reviews on G2 about how easy it is to set it up and how helpful their customer support team is. We included BambooHR in this list because its features can fit the needs of different industries such as construction, healthcare, tech, finance, and more. Additionally, in 2023, the company achieved a revenue of US $189.7 million and a yearly growth of 29%.

8. Contently

This SaaS content management platform helps users reduce their efforts when working on their content marketing strategy. Users have seen a 40% average audience growth in the first six months after using the service. In 2023, Contently hit a US $40 million revenue and a 17% growth.

9. Mentimeter

Mentimeter is a SaaS tool that transforms presentations into compelling visuals for better audience engagement. It can be used by businesses and classrooms. With AI, users can create presentations designed to create an impact. This feature reduces the time a user has to invest in creating a new presentation, which translates into more productivity.

10. Userpilot

Focused on product and user growth, Userpilot is one of the SaaS companies that tracks product adoption and user engagement and collects customer feedback for future product iteration. Users can integrate the platform with tools like CRMs or analytics platforms to gain better insights. Among the features of Userpilot, no-code functionalities help users find the information they need for a better analysis.

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