With more and more companies embracing the project management culture, the SaaS (Software as a Service) market is increasingly growing. There are a large number of customers with various requirements while at the same time there are a large number of vendors with different SaaS project tools available for them.
The different markets available to vendors are made up of three categories which include:
The Enterprise Market – This market consists of customers whose SaaS requirement calls for more than 100 subscriptions. An example of a company that falls in this category can be a customer care or customer management company.
The Upper Midmarket – This market consists of clients with requirements of 25 to 99 subscriptions.
The Lower Midmarket – This market is made up of companies that will require fewer than 25 subscriptions. This does not necessarily mean that these are small companies, just that their requirement for project management users is small.
The success factor of vendor companies is determined in three categories which include:
The Ramp Up Category – These are companies that have fewer than 100 customers for their project management software.
The Significant Success Category – These are vendors who have more than 100 customers but fewer than 300 customers.
The Major Success Category – These is reserved for vendors with more than 300 customers.
There is a significantly large market out there and even project management vendor startups can still tap into these markets. As more and more people embrace web technology, there is a possibility of all businesses processes becoming web based.