target audience: TECH SUPPLIER Publication date: Jun 2024 - Document type: Market Perspective - Doc Document number: # US52326924
SaaS Verticalization Strategies: Applications to Suites to Industry Clouds
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Abstract
This IDC Market Perspective delves into the evolution of vertical SaaS from point products to platform-connected suites and industry clouds highlighting the challenges and opportunities in this dynamic market. The SaaS market is evolving rapidly, with vertical SaaS (vSaaS) emerging as a significant trend driven by the need for industry-specific solutions. This shift toward vSaaS is characterized by deep domain expertise, integration capabilities, and the adoption of industry clouds, offering tailored functionalities that address unique industry challenges. Growth of vSaaS is further accelerated by strategies such as expanding functionality, extending to new verticals, and adopting new delivery models, positioning it as a key driver of innovation and customer satisfaction in the SaaS landscape.
"Vertical SaaS is reshaping industries by offering deep domain expertise and tailored solutions, driving innovation and customer satisfaction to new heights." — Frank Della Rosa, research vice president, SaaS, Business Platforms, and Industry Cloud, IDC
"Navigating the SaaS verticalization wave requires strategic partnerships and a keen eye on industry-specific challenges and the expanding opportunities with." — Nadia Ballard, senior research manager, Industry Cloud and SaaS, IDC