As small and medium businesses (SMEs) continue to grow and invest in technology, the chances of the SaaS market growing at an exponential scale is not far from reality. The data also backs it; as per Statista, the SaaS market may reach $208B in 2023, up from $176B in 2022. Research shows more than 70% of the Series A funding rounds announced this year were raised by B2B SaaS companies.
Among the digital trends influencing how companies and consumers interact in the future is the rise of SaaS software, software use cases, and developments in cybersecurity and proptech. Anastasios Papadopoulos, the founder and CEO of IMS, a global digital transformation company that enables companies to create disruptive business models, predicted a few things about how technology is going to disrupt SaaS market in 2023.
In addition, he is also the man behind IMS Digital Ventures – Asia’s most promising venture builder with a $250 million portfolio of ten venture companies. With 90% of startups destined to fail, it’s no secret that the startup scene is challenging in the best conditions. Given the rise in popularity of SaaS businesses, let’s take a look at his best predictions about the rage trend.
- “Fight for funds: It is harder for tech startups to raise funds. Lessons learned are how to nurture relationships with investors, buckle down on product-market fit, and ensure that ventures don’t focus too much on needs of a few big clients but have in mind a bigger product roadmap picture to maximise chances of securing new customers.”
- “Serving existing B2B customers well to expand existing accounts and help them secure ROI on their tech investment (especially in SaaS), is easier than asking companies to invest in new tech in this climate. Having said that, the amount of dry powder in the market makes for a promising 2023 so we are preparing for next year’s fundraising efforts to take advantage of that.”
- “The SaaS market will continue to grow as SMBs increasingly recognize the power of investing in technology. All in one and end to end solutions will become increasingly popular as companies try to streamline operations, automate processes, and adapt to remote work.”
- “The web3 landscape will begin to mature as entrepreneurs think beyond the hype and create sustainable business models that answer real industry needs.”
- “Blockchain is more than a fad, it’s the future. Consumers and businesses are demanding more security and transparency.”
- “As web3 tech accelerates, the need for security will continue to rise as well. Most of us don’t know it yet, but a revolution has begun.”
- “Savvy real estate firms know that investing in technology might be the only way they can attract/retain top sales talent (after all, this is what their business model relies upon). Better tech = better chance of closing deals = happier agents = better for businesses’ bottom line.”
Anastasios Papadopoulos is the CEO and founder of IMS Group, which he founded in 2016. He also founded IMS Digital Ventures, the first corporate venture capital firm in Hong Kong, combining his experience in M&A and technology. They also have a London office in the heart of Mayfair.
