Indian SaaS Startups will witness massive growth in next few years.
The way India is witnessing growth in terms of technology infrastructure improvement, startup ecosystem and more support from veteran industry leaders, is enough to make statement that India has enough potential to be the world's leader in technology & research in coming years. The emerging Indian startups are establishing themselves in the world class technology space. It is believed, within the Industry that India will be the SaaS Hub of the world.
SaaS is defined as software distribution model in which applications are hosted on the cloud which are directly used by massive vendors or clients. The recent study by Google & Accel partner indicated that India will have US$10 B Revenue by 2025 acquiring 8% of the Global SaaS Market.
There are few Indian SaaS companies who are doing pretty well globally such as Freshdesk, Zoho, ChargeBee and SirionLabs etc. These businesses are telling the compelling story of Indian SaaS landscape. Data Intelligence Platform Traxcn, has also indicated that there have been more than US $1.4 B fund injected in the Indian SaaS businesses form 2010 to 2016 but just in first quarters of 2017, more than 10 Indian SaaS companies have received Investment. This indicates that India will witness to the Powerhouse of Software products which will be served globally too.
This happened because of the concrete success of few Indian SaaS businesses like Zoho and Freshdesk, who have left their foot-prints on the global scale. Some of the factors that are also important for this success to set the milestones in this sector are:
- Affordable Resource Cost
- Global enterprises's confidence and trust in using Indian products
- Low Cost Billing
- Maximum Utilization of Services
- Extremely Good Talent to build world class products
- Innovation and Research in new areas
- Growing and Improved technology infrastructure
- Local Businesses Usages with Indian Products
- Cloud Cost has decreased
There are few challenges such as selling ability & global knowledge etc. though to reach on the global stage but that is mitigating.
The time is hear for Indian SaaS companies to build sustainable enterprises by focusing on mid-market enterprises. There is also, huge opportunity to building 'enable focused products' that will speed up the development, integration and reducing costs in new areas. The winning formula for such enterprises will be
- Build Team with Domain Expertise
- Enable product for Quick Integration
- Kick-Ass UI with easy to Use
- Understanding In-depth competition
The focus should not be only for subscription or licencing but should also focus on utility, processing & transaction level Paying Models. These will help in generating sustainable revenue in long term. The mass level adoption rate with low cost is required too for the success of the SaaS products both locally and Globally.
The emerging new technologies such as Artificial Intelligence or DeepTech has powered SaaS based products. The report suggests that 2018 is going to be the year for emerging technologies such as Artificial Intelligence. AI is going to rule the world in SaaS products based businesses.
Looking forward to witness the growth ahead for SaaS based businesses.
[Artivatic AI Labs is SaaS Platform for Enterprises & Developers to build innovative & intelligent systems to enable for prediction, personalization, recommendation and automated decision making. Artivatic is built on Genomic Science approaches and building own proprietary algorithms for future. Visit: www.artivatic.com ]
Stories by Layak Singh