![]() ![]() Further, as enterprises continue to move their on-premise workload to cloud environments, application and infrastructure monitoring is gaining importance. Ongoing Transition to Cloud Creating Opportunities: Additionally, the growing need to secure cloud platforms amid the growing incidences of cyber-attacks and hacking drives the demand for web-based cyber security software. Hence, the need for specialized training reduces significantly, which lowers expenses, thereby driving profits. The cloud-based applications are easy to use. The affordability of the SaaS delivery model, particularly for small and medium-sized businesses, is another major driver. The subscription-based business model ensures recurring revenues for the industry participants. The pay-as-you-go model helps Internet Software providers scale their offerings according to the needs of different users. Pay-As-You-Go Model Gaining Traction: The increasing customer-centric approach is allowing end-users to perform all the required actions with minimal intervention from the software providers. Remote working, learning and diagnosis have also boosted the demand for SaaS-based software applications. Moreover, the SaaS delivery model has supported the industry participants to deliver software applications amid the coronavirus-led lockdowns and shelter-in-place guidance. This increases customer satisfaction and raises the retention rate, driving the top lines of the industry participants. ![]() It has been effective in addressing customer expectations of seamless communications across multiple channels, including voice, chat, email, web, social media and mobile. SaaS attempts to deliver applications to any user, anywhere, anytime and on any device. It also cuts down on deployment time compared with legacy systems. Growth prospects are alluring primarily due to the rapid adoption of SaaS, which offers a flexible and cost-effective delivery method of applications. 3 Trends Shaping the Future of the Internet Software IndustryĪdoption of SaaS Growing: The industry is benefiting from the continued demand for digital transformation. Industry participants target a variety of end markets, including banking and financial services, service providers, federal governments, and animal-health technology and services. Advertising is also a major revenue source. Hence, subscription is the primary source of revenue. The industry participants use the SaaS-based cloud computing model to deliver solutions to end-users, as well as enterprises. Industry participants offer multi-cloud application security and delivery, social networking, online payment, and 3D printing applications and solutions. The Zacks Internet Software industry comprises companies offering application performance monitoring, as well as infrastructure and application software, DevOps deployment, and Security software. Robust IT spending on software is another positive factor for industry participants. The growing demand for solutions, which support hybrid operating environments, is noteworthy. The high demand for Software as a Service or SaaS-based solutions due to the increasing need for remote working, learning and diagnosis software, as well as cybersecurity applications, has been a major driver.
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