Reports said that Web3 needs to set off toward new horizons to continue disrupting traditional industries, and B2B SaaS can enable that. In the era of services like Netflix, Dropbox or Amazon Prime, it’s quite easy to forget about the times when customers were getting in line to acquire boxed digital products, like software or entertainment media, with one-time purchases.
It has been reported that the age of annual fees started when consumer products turned into subscription-based services. The same transformation happened approximately a decade ago in the enterprise world when businesses reimagined ages-old solutions like enterprise resource planning or customer relationship management as ongoing services monetized via recurrent billings.
However, the business-to-business (B2B) software-as-a-service (SaaS) model was born in the 2000s and disrupted the way enterprise technologies have worked over the last two decades.
The report said that from providing enterprise-level Ethereum infrastructures to blockchain-based document storage systems, Web3 SaaS (or SaaS3) companies offer decades-old business services reimagined in the Web3 environment, and fresh data shows that the business world is open to trying new ways of doing old things.
Likewise, the total addressable market (TAM) is an admittedly optimistic chart that multiplies a project’s potential number of customers with the budget reserved for the service. It does not involve any competition or real-life limitations, hence the probability that the “addressable” part implies.
TAM is the potential market opportunity for a product or a service, and the B2B SaaS3 space had south of one-quarter of a billion dollars of that opportunity last year.
Thus, Mark Smargon, the CEO of blockchain-based payment platform Fuse, believes that B2B SaaS in the Web3 industry can benefit from quite a number of factors, including the increasing adoption of mobile devices, the internet and e-commerce platforms, as well as a shift towards cashless societies in many countries.
Source: Cointelegraph