Unlocking India's $1 trillion SaaS opportunity

The SaaS industry — which is $2.6 billion in size and employs about 40,000 people — is expected to record a 20X revenue jump by 2030. The narrative goes beyond this mammoth opportunity.
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India could be on the cusp of unlocking a $1 trillion opportunity for Software-as-a-Service (SaaS)  companies, creating nearly half a million new jobs by 2030, according to a report titled 'Shaping India’s SaaS Landscape' by SaaSBOOMi, in association with McKinsey

To be clear, software accounts for 20 percent of the total enterprise spending on technology but has a value creation of nearly 50 percent. 

The SaaS industry — which is $2.6 billion in size and employs about 40,000 people — is expected to record a 20X revenue jump by 2030. The narrative goes beyond this mammoth opportunity. 

This ‘20X jump’, which will generate $50 to $70 billion in revenue, is merely 6 percent of the global SaaS market — reflecting the untapped size of the pie and the huge window of opportunity that lies ahead for the SaaS industry.  

In a conversation with YourStory, Manav Garg, Founder of Eka Software and Together Fund, and Noshir Kaka, Senior Partner at McKinsey, deep-dive into how Indian SaaS providers can scale to their full potential and win 4-6 percent of the global SaaS market.

According to Noshir, there are three to four critical skill sets that the SaaS industry will be short of across the globe for the next 10 years as he categorises major opportunities in three areas—Horizontal SaaS, Vertical SaaS, and the developer tools market.  

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Image Credits: YS design team


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Before you go, stay inspired with… 

“The funding and skilling initiatives can come from the industry. What we can’t provide is access and infrastructure, which we need from the government. We need to build the required skill sets into existing programmes so that the pipeline for the next generation of jobs can be filled.”

Noshir Kaka, Senior Partner at McKinsey


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