A new report has suggested that the Indian Software-as-a-Service (SaaS) market will generate 50 billion dollars within the next decade. The report, cosponsored by search and cloud giant here
and venture and growth equity firm Accel Partners (both with headquarters in California, United States), was released last Friday. It suggests the growth will be fueled by a dramatic increase in demand from small and medium-sized companies (SMBs).
The United States currently caters for the bulk of the global SaaS market, but the report suggests that the India’s competiveness, particularly in the areas of engineering, sales, and product management, will enable the sub-continent to benefit from SaaS growth. India's SaaS sector will scale quickly and equally quickly rise to profitability, the report suggested. It further suggests that SaaS will represent 75% of India’s public cloud revenues, a fact that will contribute to the global SaaS industry generating $132 billion globally by 2020.
While the report suggests significant growth in European demand, demand from SMBs in the United States will double. The report further suggests that Indian startups will establish SaaS products that will be adopted by SMBs, allowing them to corner 8% of the SaaS market. “Indian startups have an edge, as mobility is also becoming a key requirement by SMBs for SaaS,” explained Google Southeast Asia and India’s VP and Managing Director, Rajan Anandan. “Our startups are already building world class solutions for the mobile first users, this strength combined with easy access to global customer base online will help India become a very strong player in the global SaaS industry,” he added.What do you think of the Software-as-a-Service market in India? Will it achieve such growth? Add your comments below.