India's SaaS worth $1 trillion by 2030 🔥

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Jul 9, 2021

1 min read

What happened — a joint report by SAAS Bhoomi and McKinsey cites the local SaaS market is capable of generating $1 trillion in market value, employing 500K+ skilled labor by 2030, offering India’s fledging SaaS market its staunchest vote of confidence.

The report estimates about $40 to $50 billion in revenues by 2030, with India owning a respectable 4-5% of the global cloud software market. Here’s a link for the SaaS-nerds out here.

Some notes on how things stand today:

  • Currently we have ~1000 companies, 10 unicorns, hiring 40K people
  • 150+ companies with >$1M in revs
  • Indian SaaS making ~$2.6 billion in annual revenue, with ~30% growth

With some of the world’s sexiest category leading SaaS businesses popping up here (BrowserStack, Zenoti, Postman, MindTickle, Druva, Innovaccer) India’s ongoing transition from an IT services market to a product-based software market has so far been excellent!

Some realism? — annually, global companies spend $4 trillion on IT. SaaS companies servicing it today are worth about $2 trillion. Trillion for India, in 10 years, isn’t unimaginable.

Big picture — shift of IT from old school systems to the cloud is a gigantic opportunity to build wealth for everyone. List those goddamn SaaS IPOs locally and share the pot, pls!

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