Overview
Software as a service (SaaS) solutions make software easily accessible over the internet and are among the fastest-growing segments in the IT industry. SaaS allows for frequent upgrades and support without the need to install specific software. “On-demand software” and “Web-based/Web-hosted software” are other terms for SaaS.
In 2020, the SaaS market reached 157 billion dollars, more than double what it was in 2014.
Technological innovation, customer behavior, and demand are the driven force behind marketing growth. In the aftermath of the pandemic outbreak, spending on cloud infrastructure and software is only expected to rise. Companies have been forced to focus on protecting cash flow, optimizing IT expenses, supporting and securing a remote workforce, and ensuring resiliency.
Organizations are advancing their timelines on digital business initiatives and moving rapidly to the cloud in an effort to modernize environments, improve system reliability, support hybrid work models and address other new realities compelled by the pandemic.
Brandon Medford, senior principal analyst at Gartner
According to Gartner, end-user expenditure on public cloud services is expected to reach $396 billion in 2021 and to expand 21.7 percent to $482 billion in 2022.
Here are some interesting finds about the SaaS industry based on the latest researches.
- The SaaS market is now increasing at an annual rate of 18%.
- The usage of SaaS in the healthcare industry is increasing at a rate of 20% yearly.
- By 2022, 78% of all businesses will be using SaaS to run their business applications.
- Agility and scalability are two of the primary motivators for implementing SaaS solutions, according to 70% of CIOs.
- Corporate mobile SaaS sales are expected to reach $7.4 billion by the end of 2021, up from $4.4 billion in 2016.
- By 2022 the number of cloud workloads installed is projected to hit 380 million.
- For the great majority of SaaS companies, acquiring new customers is a top goal.
The Global SaaS market is predicted to grow to $99.99 billion from 2021 to 2025, according to the Global Software as a Service (SaaS) Market 2021-2025 report.
The SaaS industry is booming, and startups entering the market are faced with pretty high competition. To avoid struggles in growing, companies should take all necessary steps to build strong, memorable brands and picking the right domain name plays an important role in that process.Â
Our research, based on 1000+ SaaS companies, shows that the .COM extension is still the preferred option. A .COM domain communicates authority, professionalism, and stability – all essential values for SaaS companies in a highly competitive market.
Beyond just the benefits of properly aligning our brand with the .com name, we knew that owning this domain would illustrate to future customers that we’re here to stay for the long haul.
Steli Efti, CEO of Close.com
Interesting to note is that many companies have opted for multiple domains. There are many benefits of owning multiple domain names apart from improving SEO. This is often due to domain name upgrades – when startups launch on an extension, they manage to secure and, later on, invest in their exact brand match .com. Brands that are serious about their consistent and strong presence also have domain strategies in place, and so register domains to protect their brand (so others don’t), to make their client’s and investors’ life easier by making sure they’ll get to the right address even if they mistype the brand name, or for creative reasons – for marketing campaigns, products, and sub-brands.
Namepicks
Salesforce
Salesforce is a global SaaS company that develops CRM solutions and provides business software on a subscription basis. The company is one of the major players in the SaaS industry, with a market cap of $278.43 Billion. According to Crunchbase data, Salesforce has made 44 investments. They recently backed up Wiz (cybersecurity company) in their $250 million Series C round. Salesforce has acquired 68 organizations. Their most recent acquisition was LevelJump on Sep 24, 2021.
Salesforce operates on the exact brand match domain name Salesforce.com. The company owns over 5000 domain names, some of those top-end names like Force.com, Work.com, Einstein.com, and IQ.com. In an interview with SmartBranding, VP president of Salesforce, Peter Coffee, shared more about Salesforce’s strategic research, domain strategy, and the IoT.
Box
Founded in 2005 by Aaron Levie and Dylan Smith, Box, Inc. (previously Box.net) develops and sells cloud-based content management, collaboration, and file-sharing software for businesses. Before going public in 2015, the company raised around $500 million in multiple funding rounds. In 2011, Box dropped the .net extension and acquired the exact brand match domain name Box.com for six figures. Many brands start on compromise names and later on upgrade to an exact brand match. According to Whoxy data, Box, Inc. owns 139 domain names, including Box.dev, Box.fund, and BoxCloud.com. Owning multiple domain names can improve SEO, and it’s also a way to direct traffic to your primary domain name and avoid traffic and email leaks.
Slack
Slack Technologies, Inc. is known for its platform Slack, allowing users and businesses to communicate effectively. Crunchbase data shows that Slack has made 24 investments. Their most recent investment was on Mar 9, 2021, when Pipe raised $50 million. Slack has a market cap of $26.51 Billion. On July 21, 2021, Salesforce announced it had completed its acquisition of Slack Technologies, Inc. in a $27.7 billion deal. Slack Technologies, Inc. owns 1,387 domain names, including the exact brand match Slack.com.
Zendesk
Zendesk is a customer care service software platform based in San Francisco, California. The company is known for its easy-to-use and implement products. With a market cap of $13.76 billion, Zendesk has acquired seven companies, with Cleverly being their most recent acquisition. The company owns the exact brand match domain Zendesk.com along with more than 2000 other domains.
DocuSign
DocuSign operates a cloud-based electronic signature platform that includes over a dozen applications covering all aspects of the agreement process, including drafting, signing, acting on, and administering contracts. In May 2021, DocuSign acquired the digital contracting platform Clause, completing its 8th acquisition. As of October 2021, DocuSign has a market cap of $51.01 Billion. As a global brand, DocuSign has chosen a matching global domain – DocuSign.com. The company has also secured other common domain extensions besides their core domain as Docusign.net, Docusign.mn, Docu.ink, and others.
Highlights
Nine hundred and ten out of one thousand and seventy companies operate on the .COM extension. Growthbadger recent study shows that .com domains are over 33% more memorable than URLs with other top-level domains.
Seven hundred and twenty-three companies out of one thousand and seventy secured EBM domain names for their brand presence online. An exact brand match .com name is the natural choice for most internet users, making any brand’s marketing most effective across all channels.
Thirty-two companies use a dash in their domain name.
Thirty-nine companies operate on .CO extension. .Co was introduced in 1991 as a Columbian country code domain. The extension became popular among startups as an alternative to the .com when the desired exact brand match domain is taken, or the company does not have the funds to acquire it.
.IO and . AI have been chosen by forty-four and thirteen companies respectively. .IO and .AI extensions have been widely adopted by tech startups as they are associated with popular technology terms and offer a lot more availability than other TLDs.
| DOMAIN EXTENSION | SAAS STARTUPS USING IT |
|---|---|
| .com | 910 |
| .co | 39 |
| .io | 44 |
| .ai | 13 |
| .net | 19 |
| .org | 6 |
| .us | 5 |
| others | 34 |
While we make every effort to ensure the data on our site is accurate, complete, and up-to-date, we cannot guarantee its reliability. Our data is provided for informational purposes only and should not be relied upon as legal, financial, or other advice. We strongly recommend that you independently verify any information before relying on it.
Other resources
- SaaS Product Growth – What are You Getting Wrong, with Vishal Rewari from Optiblack
- The Importance of Investing in a Strong Domain Name for Your Business
- Why Your Domain Name Matters: 4 Reasons Why .Com Domain Names Are The Best For Your Brand
- 35 Experts Share Their Best Advice for Naming Your Business
How does your brand name match your company vision? What new horizons can a better name open? Get in touch if you feel your brand deserves a better name, we are always happy to help.
box branding docusign domain domain name domains EBM funding naming platform Saas salesforce slack startup zendesk
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