With the demand from SMBs growing, Indian startups have the opportunity to grab 8% of this revenue by creating purpose built innovative solutions targeted at SMBs globally. Currently, India is home to over 500 SaaS startups.
“Cloud computing is one of the top technology investment trends of this decade with venture funding for purpose-built SaaS solution exceeding $18 Bn in the last four years. Indian startups have an edge, as mobility is also becoming a key requirement by SMBs for SaaS. 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 to become a very strong player in the global SaaS industry,” said, Rajan Anandan, VP & Managing Director, Google Southeast Asia & India.
As per the report, Indian SaaS businesses can scale rapidly because of its advantages in engineering, inside sales, product management and mobile skill sets.
Shekhar Kirani, Partner at Accel in India, said, “We’re already seeing many Indian SaaS startups creating world-class products successfully for global SMB market. With a sizable SMB market opportunity, increasingly high quality entrepreneurs, availability of local talent, favourable unit economics and a vibrant VC community in this space we anticipate several billion dollar companies will be create from India in the next decade.”
By comparing unit economics advantages and current spread of demand fulfillment, the report outlined Customer Relationship Management, Data Visualization, Human Resource Management, Marketing, Healthcare and Education as some key opportunity areas where big global SaaS companies can emerge out of India.
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