Indian SaaS firms to have 8% of world market, get $35 bn in revenue: Study

Most Indian investors expect to increase, maintain capital allocation to sector

Indian companies will command 8 per cent of the global Software as a Service (SaaS) market by 2027 as they generate $35 billion in annual recurring revenue (ARR), said a report on Wednesday.

Indian SaaS companies are growing 20–25 per cent annually despite market headwinds, according to Bain & Company’s ‘India SaaS Report 2022--Remaining steady through turbulence’.

Indian companies’ ARR of $12–$13 billion formed 5 per cent of the global SaaS market in 2022, increasing four-fold in five years. India’s SaaS ecosystem has become a global leader, behind only the US in scale and maturity.

Arpan Sheth, partner at Bain