Indian companies are set to double their share in the global SaaS market in the coming years. A recent report by SaaSBOOMi (Asia’s largest SaaS community), McKinsey & Company, and Nasscom concluded that India could well be on the cusp of unlocking a $1 trillion opportunity. The global SaaS market is expected to cross $500 billion in revenues by 2025, growing at 18-20 per cent a year, to reach $1.3 trillion by 2030. A core model of cloud computing — SaaS (software-as-a-service) is a software delivery method where service providers host an application on their own servers, which a client can access via the internet. Reflecting a rapidly digitalizing global business environment, India’s SaaS industry has been going from strength to strength. India currently has around 1,000 SaaS startups, including 10 unicorns, that generate a combined two to three billion US dollars in annual revenue and employ nearly 40,000 people, McKinsey & Company data showed. The number of unicorns could increase 10-fold by 2030, they predicted.


India has the largest pool of developers, and it becomes an even more important sector for us. And then (there is the) growing SaaS (industry in India for talent) '. A Google and KPMG report says India is all set to be the home of a $10 billion SaaS industry with its global share expected to rise to eight percent. At present, the SaaS industry is growing at a compounded rate of 18% and SaaS in the small and medium business sector is slated to grow by 36% in the next couple of years. This makes Indian SaaS companies hot picks for international corporations to invest in managing the critical back-end. Add to that India’s already established advantage in back-end support through its IT and ITES sector which brings down overall costs of companies significantly. Finally, the next phase of digital transformation by global companies would be powered by the adoption of multiple cloud platforms and deploying applications on Edge (comput.