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.