A $1-trillion tryst with destiny for Indian SaaS startups

Just six years ago, SaaSBOOMi was launched by a group of product builders and startup founders. It was a community that would transparently share SaaS learnings with other startups, lighting the way for exponential opportunities. 

In this comprehensive SaaSBoomi report, they address and answer the questions around what the next decade will look like for Indian SaaS startups and what roadblocks need to be overcome to realize their full potential. 

 

Software, including SaaS, now comprises $600 billion of the $3 trillion global enterprise IT and communications spending market. But with an 8% annual growth rate, its upward trajectory is almost twice the pace of the overall market. Should this remarkable growth continue, the SaaS market is expected to be worth about $1.3 trillion by 2030.

Scale matters for startup growth

The biggest requirement for Indian SaaS startups would be to adopt a “growth-first” mindset. To reach the $1-trillion milestone, the Indian pure-play SaaS ecosystem needs to be six times larger than it is now. 

 

Need for more investment especially for seed and early-stage SaaS startups

Investments are rising in the Indian SaaS industry, reaching about $1.5 billion in venture capital funding in 2020, but India would need to triple or quadruple funding to achieve its full potential.

 

All stakeholders working in tandem to realize the Indian SaaS ecosystem’s full potential

 To thrive in the disruptions likely to play out in the next five years, the entire industry would need concerted and coordinated actions. Industry associations such as SaaSBOOMi and NASSCOM, investors, corporate enterprises and the government could work together with startups to create an overarching entrepreneur-friendly environment that will help India emerge as a clear winner in SaaS.
 
 
To enjoy the SaaSBOOMi full report, click here. 

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