Cloud marketplaces bring together sellers and buyers of software as a service (SaaS), making it easier and faster for software trading.
Amazon Web Services (AWS) remains one of the major players in the global marketplace, helping
SaaS companies access more international corporate customers, boosting their worldwide sales.
Worldwide growth in IT spending offers an important insight into possible future trends. Gartner, a US-based technological research and consulting firm, estimated this year’s global IT expenditure at US$ 4.4 trillion, a 4 percent increase from 2021. Software spending alone is predicted to rise 9.8 percent to US$ 674.9 billion, while IT service spending is expected to grow 6.8 percent to US$1.3 trillion.
Software buyers around the world now make quicker procurement decision than before. Almost 85 percent of the software procurement processes take less than six months, comparatively shorter than just a year earlier. It is simply more convenient to buy software through online ‘app store’ platforms which accounts for about 17 percent of all purchases. Cloud marketplaces are expected to become the dominant channel for infrastructure software purchases by 2024.
Business-to-business (B2B) transactions between suppliers and wholesalers are also expected to rise, with as much as 80 percent of transactions taking place through digital channels by 2025. Forrester, another research and advisory company, also predicted that 17 percent of the US$13 trillion in B2B expenditures would flow into cloud marketplaces by 2023.
The International Data Corporation (IDC) supported these findings by noting that SaaS would account for 30 percent of enterprise software purchases in 2022, growing to as much as 80 percent of the corporate software in use by 2030.
The COVID-19 pandemic helped fuel this rapid growth in e-commerce, which shows no signs of abating, and customers are constantly looking for more convenient digital channels.
Companies poised to speed up their digital transformation are expected to be well positioned to exploit this trend. The SaaS market offers a huge opportunity for software companies to sell their products beyond borders as purchases can be made from anywhere in the world. Vendor companies in the cloud marketplace are best positioned to serve prospective customers worldwide, particularly those from the United States and European Union that are considered two of the world’s leading markets.
Program for AWS Global Partners
According to Stanley Chan, Head of Technology Partners, Asia-Pacific and Japan, AWS, “The AWS Marketplace is a digital catalogue with a collection of over 12,000 software solutions across 65 categories supplied by independent software vendors (ISV). It is managed by AWS to support almost 2,000 software sellers worldwide, with many easy-to-use features for searching, procurement, licensing, and control of third-party software. Today, AWS has more than 325,000 active customers using software from AWS marketplace.”
“Software developers in the marketplace have a good chance of growing overseas by offering SaaS services to customers around the world. About 90 percent of the world’s 100 top companies opt to use programs available in online marketplaces,” he added.
Amity recently became Thailand’s first tech firm to join the AWS Marketplace and is AWS tech partner for cloud services.
This software developer and ISV is a startup that works as a complete social engagement ecosystem, with integrated features easily compatible with existing corporate applications.
AWS offers Amity a diverse variety of services and tools, including software containers, databases and machine learning to protect the company’s proprietary software copyrights.
Support and guidance are available in regard to technology, market access, and collaboration with other software companies. This ensure that the software developed is up-to-date, safe and stable, with the built in potential to adapt for future grow. Advice is also available regarding sales presentations and price calculation, such as membership fees, sales by megabytes, or pay-per-use models.
Customers are assured that products they buy are backed up by a comprehensive after-sale support system. Educational events such as seminars and online sessions are organized to allow direct contact with prospective customers and product promotion.
Entering the US and EU ASAP
Amity CEO and founder Korawad Chearavanont said that while competition in the company’s unique niche was minimal now, the time was right to promote its products globally. For him, SaaS businesses differ from other tech companies as they have higher growth margins and more repeat customers who buy products for extended periods of time.
“For Amity our customer volume in America and Europe has an annual growth of 700 to 800 percent. Our company philosophy calls for accessing markets as soon as possible to make sure that each becomes a vertical leader with early victories.
“We have to get big in America and Europe first while certainly also paying close attention to the ASEAN and Thai markets. The sector is bigger than the consumer market, but SaaS is almost non-existent in Thailand,” he added.
Its participation in the AWS Marketplace has strengthened Amity as an AWS partner.
Amity Social Cloud (ASC) solutions are available for purchase anywhere in the world. They help corporate customers create various chat or video streaming features while allowing software developers to easily add plug-and-play social functionality to applications and digital platforms. This frees up product and marketing teams to build online communities that drive engagement, support customer loyalty, and generate revenue.
Earlier this year, Amity took part in an AWS ISV Accelerate program to be eligible for sales support from AWS. It brought in access to various sales enablement resources, helped accelerate the sales cycle, and improved access to potential customers.
Rêver Automotive launches BYD ATTO 3 THB 1,199,900
How mobility data can improve public policymaking for tourism promotion in second-tier provinces
SCG leads drive for digital sustainability with ‘To get there, together’ concept
