India’s SaaS companies to open up $1 trillion opportunities, 5 lakh jobs by 2030

The report “Shaping India’s SaaS Landscape” said the global SaaS market is expected to cross $500 billion in revenue by 2025 by growing at 18-20 percent annually. The report also noted that out of nearly a thousand funded SaaS companies in India, 10 have a unicorn status with a valuation of $1 billion. The startups generate about $2-3 billion in revenues and also employ close to 40,000 people.

The global SaaS market is also expected to cross $500 billion in revenue by 2025 growing at 18-20 percent annually. SaaS has come of age, with nearly a thousand funded SaaS startups and ten unicorns. SaaS companies collectively generate $2-3 billion in annual revenue and employ nearly 40,000 people and have a potential to create $1 trillion in value and nearly half a million jobs by 2030.

Girish Mathrubootham, Founder & CEO, Freshworks and Founding Partner, SaaSBOOMi, said, “India is now a hotbed of innovation with nearly 1,000 SaaS companies and ten unicorns. ”

Debjani Ghosh, President, NASSCOM, said that Indian SaaS ecosystem has the potential to create $1 trillion in value and nearly half a million jobs by 2030, owing to digital transformation and automation in organizations across sectors.

"Increasing digital transformation is accelerating SaaS adoption aiming to perform analytics & AI, and data management applications. However, to create awareness around the potential of SaaS in India, the Government has to collaborate with industry associations, investors, and corporates, and drive large-scale training programs by partnering with universities and institutions,” she said.