Cloud-based SaaS is relatively a new approach for businesses to provide software solutions on a subscription basis, and it has become one of the most admired industry trends in recent times. According to multiple reports, approximately 85% of small businesses have already invested in SaaS, and it is expected to generate a market share of 105 billion USD in 2020. Before we jump into the development phase of SaaS application, let’s first understand what exactly SaaS is, its advantages, and why so many businesses are tweaked towards it.
What Is the Cloud-Based Software as a Service (SaaS) Model?
In simple words, these are the same applications or software as we use but instead of installing and storing data on our own computer, it stores data on web clouds which can be accessed by anyone having your account credentials. And, these services can be purchased on a monthly or yearly subscription basis just like your Netflix account. This is quite a simple progression, but it offers very useful features and, due to this, many businesses are inclined to invest in a cloud-based SaaS model. If you want to dig further, here are some related terms – IaaS and PaaS that you can opt to explore.