Software as a Service Booms in India
Forbes reports that according to a joint research report by Google and Accel Partners, by 2025, companies in India are likely to command 8% share of the global SaaS market which could be worth $10 billion annualy. Tracxn, a startup intelligence and market research platform, says that since 2010 India’s SaaS companies have witnessed more than $1.4 billion invested in the industry.
Indus Khaitan of Sirion Labs, (a SaaS company in India), says, “Gaining cost advantage by lowering the price is short lived. We don’t do that. But there’s an inherent advantage we have in terms of quality of entrepreneurs and people in this particular field. And all this is available at probably one third the price of that in the U.S.,” He also added that in order to be low cost, a company requires complete re-engineering of how to build a product.