Indian SaaS industry to generate revenue of US$ 20-25 bn

 In a recent report by the Venture capital firm Bessemer Venture Partners (BVP), it was found that the Indian software industry is to reach US$ 50 billion by 2030 but a tough funding environment forges some challenges for the set goal.

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The Indian software-as-a-service (SaaS) market is anticipated to reach $50 billion by 2030, with startups and unicorns predicted to produce sales of $20–25 billion. This prediction was made by venture capital company Bessemer Venture Partners (BVP). According to the analysis, the Indian SaaS market will increase from $13 billion in 2022 to $25 billion in 2025, $35 billion in 2027, and $50 billion in 2030.

According to the research, there were 11 enterprises with annual recurring revenues (ARR) of $100 million or more in 2023 compared to nine in 2022. Companies with $50–100 million ARR increased from 12 to 16 in 2023. Companies that would not have used up more than US$100 million in equity-based capital by 2030 will make up a significant portion of the US$50 billion ARR total, according to BVP partner Anant Vidur Puri. Bengaluru-based business claims Indian SaaS providers possess efficient edge, abundant software and AI talent, and positioning for rapid expansion.

In 2023, no new unicorns were registered despite challenging fundraising climate and macroeconomic conditions. BVP adds three new centaurs, private SaaS companies exceeding $100 million ARR in 2022. The three were Postman, Gupshup, and Chargebee. The production of three centaurs on a foundation of eight really represents an almost 37% rise. Puri argues ecosystem growth accelerates, but the unicorn notion is deceptive, relating core metrics to externalities founders cannot control.