Overview and future growth prospective
Every Business organization reaches its saturation point when they encounter numerous business-impacting obstacles all at once. Traditional software was efficient throughout the 1990s and early 2000s, but they are no longer.
What can the organization do? How can they safeguard their existence in the market?
Your wait time ends now, InfoClutch presents to you B2B SaaS and top B2B SaaS companies which can fix your critical software concerns in a matter of time.
Software as a Service (SaaS) has been the largest and fastest-growing market category for the past three years. According to Fortune Business Insights, the market is expected to reach $716.52 billion by 2028.
- According to McKinsey & Company, B2B SaaS and cloud-based computing services will have a worldwide market value of above $200 billion by 2024.
- According to the Web Tribunal, 80% of firms intend to migrate all of their systems to SaaS by 2025.
- As per the data attack surface research, by the end of 2025, 50% of data would be kept in cloud databases.
Let us understand the accurate definition of B2B SaaS and its possible area of utilization. These short but lethal acronyms are going bouncers over your head. We are cracking this part by part to ensure our readers seek complete clarity on this.
What is B2B SaaS?
B2B SaaS, or Business-to-Business Software-as-a-Service, is cloud-based software that businesses utilize for finance, business efficiency, and customer relationship management (CRM) majorly.
Organizations frequently adhere to B2B cloud-based services and pay on annual or monthly billing, rather than installing and buying programs in the operating systems.
- One of the most appealing aspects of B2B SaaS is the broadness of services that it provides to the B2B organization across various sectors.
- From incorporating marketing automation to different projects managements B2B SaaS provides the adequate baseline to magnify the efficiency of the organizations.
B2B SaaS software solutions might include the following:
- Accounting applications
- Software for human resource management (HRM)
- Project management software
- Customer relationship management (CRM)
These applications are frequently adaptable, configurable, and user-friendly, making them suitable for organizations of different sizes and industries.
What are the benefits of using SaaS in B2B Business?
Over the past decade, a few astounding B2B service providers have arisen; amongst these include renowned companies such as Shopify, Slack, Google, Microsoft, etc.
Let’s explore the key advantages of SaaS products and take a closer look at the top 10 B2B SaaS companies to understand their operations and their significant area of achievement.
- Easy accessibility
- Data Security
- Cost-effective in nature for B2B organizations
- Affordable payment plans and subscriptions
- Auto updating system
Top B2B SaaS companies across the countries
According to Statista, the United States has the most SaaS companies, with approximately 17,000, and a worldwide market of 59 billion. The United Kingdom and Canada are close behind, with approximately 2,000 SaaS enterprises each. Germany, France, and India round out the top six, each with around 1,000 SaaS enterprises.
Which are the Top B2B SaaS companies
Below is a list of the top 10 most successful SaaS companies, based on user reviews, web sources, and social networks. This information should provide you with a better understanding of the industry.
Market Cap: $2.42 Billion
- Microsoft is one of the top companies offering cloud services to different brands.
The organization has acquired over more than 100 B2B which comprise team meetings, MS Office 365, Azure online chats, and more.
2. Alphabet (Google)
Market Cap: $1.67 Trillion
- Google has been deemed to be one of the finest SaaS providers. Google offers a variety of products and services which includes Google Analytics, excel sheets, google cloud, calendar application, and document creation.
- The brand entails a massive 137 internet-related services to offer to the other business organization and can be availed for free of cost mostly.
Market Cap: $237.28 Billion
- Adobe has formulated its solid presence and owns more than 50 computer software products for printing and publishing software, digital marketing, and media software.
- A few products include Adobe InDesign, Adobe Photoshop and Lightroom, Adobe Illustrator, and more.
- MailChimp has been voted as one of the best email marketing tools which assist B2B brands in delivering various content such as newsletters and mailing lists and for the creation of email campaigns.
- The organization can directly create and regulate automated email marketing campaigns for lead generation and brand awareness for its target audience to enhance conversion abilities.
Market Cap: $0.81 Billion
BigCommerce provides its services to both B2B and B2C organizations. The software permits access to various catalogs and pricing lists based on the brand’s requirements.
This can be utilized as one of the effective alternatives to Shopify, as it provides flexibility in operating inventories, payment, and fulfillment of orders.
Market Cap: $26.51 Billion
- Slack is a widely recognized platform used as a business collaboration and interactions platform, with features such as video conferencing, and AI assistance.
- Using this communication platform the organizations provide critical business data to carry out the daily operations.
- The application also has a freemium model which adds utility straight away by addressing certain important connectivity issues for teams.
Market Cap: $9.72 Billion
- Dropbox is another well-known cloud storage service that B2b businesses can capitalize on to store the organization’s data and retrieve them as needed spanning across multiple devices.
- This also enables sharing files with colleagues and stakeholders, both individually and professionally, by using Dropbox links. The technology is ideal in business operations that want to ensure the safety of private information and also have it handy for quick accessibility.
Market Cap: $24.03 Billion
- It is a cloud-based inbound advertising and sales software that assists businesses in obtaining leads, marketing automation, and managing relationships with the audience, and fostering prospects.
- B2B business are aiming and buying out the marketing automation users list for targeting and achieving brand awareness.
- It is used by businesses of all kinds (B2B and B2C) to develop their consumer base to produce maximum sales leads and supervise their marketing content on digital platforms.
- Organizations can further optimize digital analytics, management of content, and SEO by using HubSpot’s advanced features.
Market Cap: $71.86 Billion
- It enables anyone to set up and operate a web-based business and is one of the best e-commerce systems for managing content and online e-store platforms. Shopify offers sales, web hosting, a marketplace, and more.
- Like any other SaaS pricing plan, Shopify subscriptions have a stratified system of pricing that enables businesses to select the one that is best for their company while bidding on their purchase.
Market cap: $206.07 Billion
- It is one of the most renowned SaaS Companies. The particular software Salesforce’s beneficial solutions are automated marketing, CRM, Email Marketing, and service helpdesk
- It is also confirmed that the brand currently owns around 58 cloud–computing products to assist B2B businesses.
This sums up, an informative blog where we tried to ensure stability in the flow of the information. Major B2B business brands are realizing the importance of SaaS products and the power punch it has. This has been statistically proven with the involvement of SaaS products, B2B business were consistently performing at their optimum and bolstering their business workflow and productivity. Incorporate the SaaS products in your B2B organization and understand the exquisite value it gives in return.