Indian AI-SaaS start-ups can create market value of US$ 500 billion by 2030
- IBEF
- February 11, 2022
According to a survey by venture capital firm Stellaris and the World Bank-backed International Finance Corporation (IFC), India's artificial intelligence (AI) and software as a service (SaaS) start-ups are well-positioned to create a market value of more than US$ 500 billion by 2030.
India's AI and SaaS opportunity may create 4.5 million jobs, including more than 900,000 white collar jobs and 3.6 million additional indirect jobs.
According to Bain & Company, US$ 4.5 billion was invested in SaaS companies in India in 2021, up 170% from 2020. India has a huge developer skill pool and strong process knowledge, as well as a rapidly rising pool of specialty talent such as designers and data scientists, as well as access to unique data sets and advanced algorithms.
Furthermore, the broader ecosystem for early-stage startups is backed by sufficient high-risk capital, with individual and institutional investors focusing on software investments and industry-specific accelerators willing to help these businesses in their early stages.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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