In April 2020, ecommerce spending exploded globally. In 8 brief weeks, US ecommerce spending as a % of whole retail gross sales grew from 16% to 27%. $SHOP and $AMZN have seen their TAM develop massively and their valuations have grown to mirror this.
What if I advised you one thing very related is occurring proper now in enterprise SaaS?
Amazingly, in 2020, cloud/SaaS spending remains to be solely 9.1% of whole world IT spend. However this in altering. Spending on cloud/SaaS is anticipated to develop by 18.4% in 2021 alone.
A lot in the identical means that the pandemic has made ecommerce a core a part of any retail firm’s technique, it has made SaaS a core a part of each firm’s plans.
On-premise software program simply doesn’t make sense in a remote-first world.
Similar to Amazon and Shopify have benefited from the eccommerce explosion, firms like $WDAY, $CRM, $MSFT and $OKTA will profit from the SaaS explosion.
Learn extra right here: https://tadhg.substack.com/p/the-saas-market-opportunity-is-way