A SaaS-y future; Indian SaaS market to grow 20 times by 2030!
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We all know some softwares are rigid, require downloads, the purchase takes up all your money, and still need constant maintenance. And then there is this magic of SaaS. So, in this blog, MarsDevs discusses SaaS and its future in India.
A SaaS-y future; Indian SaaS market to grow 20 times by 2030!
The Indian Software-as-a-service (SaaS) ecosystem is thriving. As the name suggests, any company that sells software as their service falls under the umbrella.
According to the report by Motilal Oswal, the experts expect the ecosystem to grow from 1% to 4.5%. The data translates to around 50$- 70 billion in revenue generation by 2030. But, where is India playing its part?
India reports the third-largest SaaS ecosystem globally, following China and the US. Over the years, we have come across a long list of startups joining the unicorn club. While we have to agree that most companies tend to focus on horizontal business software, innovative SaaS models have proven scalability's scope.
A testimonial to the win; the rise of Indian SaaS Unicorns!
The flurry of innovation and success in the Indian SaaS community can never go unnoticed. The entrepreneurs founded around a thousand funded SaaS companies in the past years. And the numbers have just doubled.
This rise in the number of SaaS companies has accelerated the creation of several unicorns in this process. According to the reports, the ecosystem, combined, generates around 2 to 3 billion dollars in revenue on average. That represents approximately 1% of the SaaS market, says McKinsey.
The studies recognize these firms as the service to a diverse range of clients based on the problems they solve. Over the pandemic lockdown, many of these firms have managed to garner global attention. They enable flexibility, a remote working model, and an innovative approach.
While Zoho provided the best apps to the sales team, Freshworks helped a seamless platform for companies' customer experience. Throughout this lockdown, ten other unicorn startups paved their way to success. Chargebee, Zenoti, Upgrad, etc., are some of these unicorns.
Looking forward to the need to go SaaS-y!
Here's a buzzword for you- "Software as a Service." Like other trends in technology, SaaS has joined the trends across the world. But, what is SaaS? What is the need to go SaaS-y?
So, SaaS is the method of delivering software. In this case, a service provider hosts the applications remotely while they are available to the customers online. Simply put, you rent software instead of the commitment to purchase it. Most of them have a user or usage-based subscription, which you can access monthly or yearly.
It says goodbye to the tradition of purchasing software which might seem a bit uncomfortable. But, there are several advantages of SaaS that you can look forward to as well.
- SaaS saves you money!
But how? It can provide you with savings for various reasons. First, you do not need to worry about the up-front cost of installing software or purchasing them. Secondly, maintenance is not your headache anymore. It is easy to download and requires a minimal fee. Most of this software provides you a trial period to check the services out. And in case you do not like it, you do not have to worry about the risk of losing money without using it.
- SaaS is easily accessible and scalable.
We already know that the model is flexible. You can pay as you go, change your usage plan when you want to, and cancel anytime. You can access it anywhere with network capabilities. And primarily, a SaaS product works great on a mobile application. So, go for a class on Upgrade without worrying about carrying a laptop every time.
- A SaaS product is compatible too!
Say you install software after its purchase. It needs enormous amounts of money and time. Even after the installation, you can face comparability issues and thus more time wasted. With SaaS, you log in and upgrade the services whenever you need them.
Tech for SaaS: Build for India, Serve across the globe!
The last two years have changed the way we work. The organizations have been rethinking their business models and how they serve their consumers. While we came across a lot of rebirth in the business space, investments in technology have seen a paradigm shift. Tech is not an enabler anymore.
It is one of the most integral parts of your business' survival. It gives you flexibility and the ability to adapt to a rapidly changing business space. It is time to shift the focus from a niche to serving the world. After all, you are not competing with the players in your area anymore. You are competing with the world.
The need for tech is clear, and it is time for innovation and change. India has already emerged as a global leader in the outsourced IT services industry. Studies suggest that this industry will grow up to 350$ billion in the next five years. The opportunity is here, and services for helping you get there too! So, it is time to end the wait and start the next wave of revolution now.
Join the revolution with MarsDevs!
A small startup can't have an in-house tech team from the start. Hiring, firing, trials, and errors are a waste of time. And it would help if you thought about practical solutions to automate your needs and scale faster. But how would you do that? Would you miss out on innovation?
Of course not! Outsourcing your tech needs might be the perfect next step for you. And MarsDevs assure you the best! With a team of dedicated developers, experts take over your tech needs, from development to deployment and management. We chip in anytime you want. Also, the clock is ticking. So, why wait? Let us know about your project now! And in case you want to get in touch to discuss possibilities, you can book your slot here.