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The SaaS market is going to boom in the coming time, and by 2020, it will be one of the dominating markets for the healthcare industry.
SaaS enhances software versatility. When you have a SaaS-Based solution for your healthcare application, it takes the help of the cloud services for running on the computers, various electronic devices and data systems.
Being in the healthcare industry, if you are looking to get introduced with the latest healthcare SaaS market trends in the coming years, you can read the blog below and get yourself acknowledged.
Healthcare SaaS Market Trends in 2020
Use of AI (Artificial Intelligence)
The AI has already been listed on the top for the business intelligence trends in 2019. Talking about the SaaS Market Trends for 2020, AI is going to dominate the platform too by bringing in intelligence and smart business solutions.
Currently, for any IT personnel, developing AI and expanding the reach of AI matters the most. Either he is a developer or an IT head, AI interests both as the scope and growth of AI is wide in the coming years.
For Healthcare SaaS solutions, AI will help in the following ways:
Security and speed
Needless to say, AI refers to automation flexibility. Machine learning is a subset of Artifical Intelligence (AI) and is being successfully utilized in SaaS solutions for automating responsiveness in CSR (customer service reports) and apps. One of the best examples of the same is the AI operated chatbot in healthcare industry.
The chatbot is pre-feed with the right amount of questions and answers and helps the machine with Ai to understand how to lead the specific chat to the right set of health category. Be it Facebook healthcare chat or website healthcare chat; the AI will rule the market in 2020 and the coming years after that.
Also, when AI enabled speed meets SaaS solutions, the processes are quicker and smarter. Likewise, the AI enabled security and its ability to machine learning, helps the SaaS solutions to detect the threats on time. It starts with a quick remedy of built-in self-recovery mode when required.
Approaching Big Data Differently
The use of multiple clouds is one of the big trends that will be leading in 2020. These days the healthcare providers are getting more and more confident in using the SaaS-based solutions, and it will reflect the boom in enhancing their confidence in using multiple cloud providers. It will directly help in storing, processing and analysing as well as securing the data.
The current healthcare cloud-computing market is valued at $18 billion & is expected to increase by 18.7% between 2019 & 2025. (Source: https://linchpinseo.com)
As mentioned above, since the use of multiple clouds and big data approach will trend in the coming years, definitely there will be a rise in security to keep the data safe. There will be much greater requirement for security with the introduction of multiple clouds in 2020.
If we talk about the year 2018, 60-65% of cybersecurity professionals were worried about data leakage. They also made us aware of the concerns relating to data security in 2018. Hence, the increasing need for the cloud for data storage will definitely give rise to increased cloud security in 2020.
With the growing demand for customization or personalization, the demand for vertical SaaS will definitely increase in the coming years. This will reflect in the declining use of horizontal SaaS in the meantime. If we have to talk about the examples of vertical SaaS, we can name a few of them as modern logistics analytics, healthcare BI software and retail analytics.
With the following benefits, Vertical SaaS will be more popular in the coming years:
Customer Intelligence (Patient Intelligence)
KPIs & pre-defined metrics
Smart data governance
Higher quality service
Enhanced API (Application Programming Interface)
As SaaS-Based solutions are getting common and enhanced there will be a rise in the fundamental section of app development, which we refer as APIs. Better integration capabilities will be the first thing that SaaS vendors will require, and it will help in fully integrating the data. Fortunately, it is possible only with enhanced APIs.
Fully integrated data will benefit from the SaaS vendors with:
Current business integration
Data protection (security)
Integrate legacy system
SaaS-Based solutions are pay per use models that allow the users to pay rentals every month. It is a pure subscription model that proves quite affordable and user-friendly to the customers as well as the SaaS vendors. The PPU model will be famous in the healthcare industry in the meantime.