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- SaaS Market Boom: Hyperscaler Cloud Marketplace Sales Projected to Hit $85 Billion by 2028 📰
SaaS Market Boom: Hyperscaler Cloud Marketplace Sales Projected to Hit $85 Billion by 2028 📰
SaaS Market Boom: Hyperscaler Cloud Marketplace Sales Projected to Hit $85 Billion by 2028 📰
Fabien B
August 22, 2024
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📖 TODAY’S ISSUE
🧵 Here are some insightful SaaS updates and tools we’ve curated for you today:
🚀Latest in SaaS and Dev Tools Discover cutting-edge SaaS advancements and essential development resources.
🛠️ Cool SaaS Tools Explore innovative tools that are reshaping the SaaS landscape.
💡 AI Prompts and Productivity Tips: Get actionable prompts to boost your SaaS productivity.
🚀 Educational Insights Learn essential skills and strategies to accelerate your SaaS journey.
🗞️ HIGHLIGHT OF THE DAY
Enterprise software sales through hyperscaler cloud marketplaces, led by AWS, Microsoft, and Google Cloud, are set to surge from $16 billion in 2023 to an astounding $85 billion by 2028. This explosive growth is driven by the increasing availability of cloud credits for third-party purchases and the rise of digital-first buyers. The shift is reshaping procurement behaviours, sales strategies, and channel models, with over 50% of marketplace sales expected to flow through the channel by 2027. As enterprises face IT budget pressures, leveraging pre-approved cloud budgets to streamline software and cybersecurity product sourcing is becoming a strategic priority.
What We Think
The rapid expansion of hyper-scale cloud marketplace sales signals a fundamental shift in how enterprises procure software. With AWS, Microsoft, and Google Cloud at the forefront, the convenience of using cloud credits and simplified billing is attracting a growing number of vendors. The channel’s increasing involvement highlights the critical role partners play in this evolving ecosystem, ensuring customers receive the necessary support and expertise. As this trend accelerates, both vendors and channel partners must adapt to maintain competitive advantages in the marketplace-driven future of enterprise software.
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⚡ LATEST IN TECH AND AI
Marketingforce reported impressive growth for the first half of 2024, with total revenue reaching RMB 740 million, a 26.7% increase year-on-year. The company's SaaS segment, which generated RMB 400 million, saw a 30.4% growth and an 88.3% gross profit margin. Meanwhile, the precision marketing segment contributed RMB 340 million in revenue, growing by 22.6% year-on-year.
India's SaaS market is on track to hit over $50 billion in annual recurring revenue by 2030, even with recent funding slowdowns. This growth is fueled by AI and Gen AI innovations that are transforming how businesses operate. SaaS has been a game-changer, offering cloud-based solutions that cut costs and boost scalability, unlike traditional software that requires upfront purchases and on-premises installation. Instead, businesses simply subscribe and access everything they need online.
Jagdish Mitra, the former head of Tech Mahindra’s India business, has just launched a new venture called Humanize, a generative AI-powered SaaS startup. Only four months after leaving the IT giant, Mitra is now the founder and CEO of Humanize, which aims to speed up the time it takes for companies to develop and market solutions. He pointed out that one of the biggest hurdles businesses face is unstructured data, making it tough to harness AI effectively—something Humanize is set to solve by organizing and structuring that data for better AI applications.
💻 DEV RESOURCES
Vue.js has released version 3.3, which brings enhancements to the Composition API, making it easier to manage state and logic within components. This update also introduces new DevTools features, offering better debugging and performance monitoring for Vue.js applications.
ESLint has launched version 8.0, adding support for ES2022 JavaScript features, including new syntax and runtime behaviours. The update also includes expanded configuration options, allowing developers to customize linting rules more precisely to fit their coding standards.
Jenkins has rolled out version 2.400, featuring an enhanced pipeline editor with better syntax highlighting and autocomplete features. This release also includes improved security controls, with stricter access management and vulnerability scanning to help teams secure their CI/CD pipelines more effectively.
What’s the Best Way to Drive SaaS Product Adoption? 📈 |
💡 AI Prompts and Productivity
Transform Recruitment Processes
○ Use AI to analyze job applications and identify top candidates based on skill matching, experience, and cultural fit.
○ Implement AI-driven interview scheduling that optimizes times based on candidate and interviewer availability.
Enhance Cybersecurity Measures
○ Develop AI algorithms that detect unusual patterns in network traffic and trigger real-time alerts for potential security breaches.
○ Automate the classification and response to phishing attempts and malware attacks using AI-driven threat analysis.
Revolutionize Product Design
○ Utilize AI to generate innovative product concepts based on market trends and consumer feedback.
○ Create AI-powered tools that suggest material optimizations and design improvements to enhance product durability and sustainability.
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💸 WHO RAISED?
Discover startups who just raised funds.
B2B sales startup Revrag has raised $600K in a pre-seed funding round led by Powerhouse Ventures, with contributions from investors like Viral Bajaria, CRED founder Kunal Shah, and others. The funds will support expansion efforts, business operations, and the launch of its AI-BDR product. Founded in 2022 by Ashutosh Prakash Singh, Neeraj Gupta, and Pankaj Gupta, Revrag focuses on automating tasks to boost sales efficiency and transform revenue generation for enterprises.
Water purifying brand Livpure has secured Rs 233 crore (about $28 million) in its latest funding round, led by M&G Investments with Rs 208 crore, and an additional Rs 25 crore from Ncubate Capital Partners. The funds will be used for product development and category expansion to strengthen market presence. Rakesh Kaul, Managing Director of Livpure, highlighted the investment's role in advancing product innovation to meet Indian consumers' needs.
Miami-based Bitcoin startup TMRW has raised $1.3 million in pre-seed funding, led by Maple VC and supported by Bitcoin angel investors like Brad Mills. TMRW’s app utilizes the Bitcoin Lightning Network to offer fast, low-cost cross-border peer-to-peer payments. The app features Universal Money Addresses for instant transactions and includes social elements like messages and emojis. Currently, in pilot in the Caribbean and beta testing in the U.S., TMRW aims to expand globally and showcase Bitcoin’s practical uses for everyday payments.
💻 Technical Insights
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📢 Marketing Mastery
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💳 Cost Analysis for Scaling
Understand the financials: what it takes to develop your product and serve 100 customers.
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