Computer hardware as we know it might not be long for this world. Software as a service is seeing to that.
As cloud computing grows in scope and capabilities, it is becoming more and more redundant to have software installed on your computer.
You don’t need Facebook or Wikipedia installed on your hardware and you can already read your Kindle books on the cloud.
Soon you might not need more advanced platforms: video-editing software, computer games, and all the storage for your files could be sat in a warehouse hundred of miles away, yet still easily accessible via an internet connection.
This is what Google was banking on with the release of Chromebooks, which only have minimal computing power, allowing their users Internet access at the fraction of the cost of a regular laptop.
The software that can be used on the cloud is more accessible than ever, so it should come as no surprise then that SaaS funding is higher than any other tech funding vertical.
Instead of users buying software packages, installing them on their devices and watching them go out of date, SaaS offers a live-updating service, usually in the form of a monthly subscription, and businesses no longer need to house huge servers on site on which to store their software and files.
It’s a win-win for businesses and software developers.
SaaS funding, including SaaS marketing tech, accounts for $11.3 billion worth of investment, amounting to just less than mobile and ecommerce combined.
This is quite a turn around for an industry which was in doubt following the dotcom bubble bursting in 2001.
Outlooks on SaaS are more optimistic now, with the only dampers on the growth being concerns of cyber security and the lag behind of cities and countries being able to provide enough bandwidth for large-scale file sharing.
Fiber optic broadband should solve one of those issues for the most part, as for concerns of cyber security, following multiple data breaches from high-profile data banks such as Ashley Madison, Sony and other websites, who can say?