Indian SaaS sector to clock $100 bn revenue by 2026: Chiratae-Zinnov study
- IBEF
- April 20, 2022
By 2026, the Indian SaaS market is expected to generate US$ 100 billion in sales, according to the Chiratae-Zinnov India SaaS report for 2022, titled "India SaaS - Punching Through the Global Pecking Order". According to the report, India is on track to overtake China as the world's second-largest SaaS nation in the next few years.
SaaS companies in India are becoming an appealing investment subject due to successful listings, more robust fundamentals, and a route to profitability. The industry aims to attract a substantial private capital infusion of close to US$ 6.5 billion in the coming year, up from US$ 4.2 billion last year. In 2021, the Indian SaaS market grew at a phenomenal CAGR of almost 55%, with revenues on track to surpass US$ 100 billion by 2026. The next wave of digital talent is projected to come from tier-2 and tier-3 cities. According to the report, a massive pool of over three million digitally skilled workers will be ideal ammunition for SaaS companies looking to build up in the coming years.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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