It was recently reported that most companies will switch to a subscription-based model for their software products by 2023.
Indeed, a study by Revenera showed that 51% of businesses use subscription or perpetual licensing. It was also stated that subscription and usage-based models will record the strongest growth in the next 18 months. Many organizations are looking to change their models in order to access new markets as well as create a recurring revenue stream.
Moreover, by having a subscription-based model, they will be able to provide users a try-before-you-buy feature and improve their automated enforcement programs. Businesses will also have the opportunity to add new pricing meters in order to align price with value.