Leading global internet company Google and early-stage venture capital investment firm Accel Partners in a joint report have estimated that the Indian software-as-a-service (SaaS) companies will be valued at $50 billion by 2025 from the current valuation estimate of $3 billion.
The report titled SaaS for global audience released on Friday, outlines that purpose-built global SaaS products will see hyper growth and adoption by small and medium-sized businesses.
The report projects that categories such as CRM, data vizualisation, HR, marketing, healthcare, and education are ripe for big SaaS companies to emerge out of India and they would have an advantage given that India being a mobile-first country.
Commenting on the report, Shekhar Kirani, Partner at Accel said, “We’re already seeing many Indian SaaS start-ups creating world-class products successfully for global SMB market. With sizable SMB market opportunity, increasingly high quality entrepreneurs, availability of local talent, favorable unit economics and a vibrant VC community in this space we anticipate several billion dollar companies will be create from India in the next decade.”