India Software As A Service (saas) Market Size & Outlook
India software as a service (saas) market, 2018-2030 (US$M)
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India software as a service (saas) market highlights
- The India software as a service (saas) market generated a revenue of USD 10.3 million in 2023 and is expected to reach USD 37.3 million by 2030.
- The India market is expected to grow at a CAGR of 20.2% from 2024 to 2030.
- In terms of segment, software was the largest revenue generating component in 2023.
- Software is the most lucrative component segment registering the fastest growth during the forecast period.
Software as a service (saas) market data book summary
| Market revenue in 2023 | USD 10.3 million |
| Market revenue in 2030 | USD 37.3 million |
| Growth rate | 20.2% (CAGR from 2023 to 2030) |
| Largest segment | Software |
| Fastest growing segment | Software |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Software, Services |
| Key market players worldwide | Intel Corp, Broadcom Inc, Trend Micro Inc, Cisco Systems Inc, Zscaler Inc, Lookout, Radware Ltd, Adobe Inc, Microsoft Corp, Alibaba Group Holding Ltd ADR, International Business Machines Corp, Salesforce Inc, Oracle Corp, SAP SE, Rackspace Technology Inc Ordinary Shares, VMware, Atlassian Corp A, ServiceNow Inc |
Other key industry trends
- In terms of revenue, India accounted for 3.1% of the global software as a service (saas) market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China software as a service (saas) market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 37.3 million by 2030.
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Software As A Service (SaaS) Market Scope
Software As A Service (SaaS) Market Companies
| Name | Profile | # Employees | HQ | Website |
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India software as a service (saas) market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to software as a service (saas) market will help companies and investors design strategic landscapes.
Software was the largest segment with a revenue share of 83.5% in 2023. Horizon Databook has segmented the India software as a service (saas) market based on software, services covering the revenue growth of each sub-segment from 2018 to 2030.
The Indian government has launched several initiatives, such as the Digital India program, to increase the deployment of software-based solutions, which is expected to drive India's SaaS market growth.
In the past few years, Indian SaaS enterprises have caught up with their global counterparts and showcased the possibility of exceeding them and becoming trendsetters in this space. SaaS revenues in the country are already noticing an annual growth of 20%, with a rising uptake in SaaS solutions from Indian enterprises and SMBs across sectors and robust growth from global markets.
The Economic Times, an Indian English-language business focused daily newspaper, reported that overall funding for Indian Software as a Service (SaaS) startups is predicted to reach USD 6.5 billion in 2022, from USD 4 billion in 2021, with an increase of 62.5% growth.
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Horizon Databook provides a detailed overview of country-level data and insights on the India software as a service (saas) market , including forecasts for subscribers. This country databook contains high-level insights into India software as a service (saas) market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India software as a service (saas) market size, by component, 2018-2030 (US$M)
India Software As A Service (SaaS) Market Outlook Share, 2023 & 2030 (US$M)
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