While SaaS has been around since the 1960s, to say the industry has exploded in the past decade would be an understatement. With the technological advancements in AI and machine learning, SaaS continues to transform and grow rapidly.
We have culled a few SaaS Statics that demonstrate that the future of SaaS is promising and will be exciting to watch.
1. SaaS revenue is expected to reach $369.4 billion by 2024.
2. 38% of companies run almost entirely on SaaS.
3. 86% of organizations stated that they plan to move all their apps to SaaS after 2022.
4. 98% of SaaS businesses experience positive results from dynamic pricing.
5. There are approximately 7,000 SaaS companies serving the marketing industry alone.
6. The average churn rate at SaaS companies is approximately 5%.
7. On average, SaaS companies spend 92% of their first year’s revenue on customer acquisition.
8. SaaS applications have grown from $44.4 billion in 2017 to $94.9 billion in 2022.
9. Companies spend $2,623 on SaaS per employee per year on average.
10. The United States alone is home to more than 16,000 SaaS companies that serve different industries.
11. Experts predict that the SaaS industry will almost double between 2020 and 2025.
If you are a SaaS company looking to explore flexible finance options to fund your growth, we’d love to schedule a time to chat.