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Mahesh

26/08/22 11:30 AM IST

India poised to become next global SaaS capital: EY-CII study

In News 
  • The study by CII and EY, titled — India: The next global SaaS capital — cited India is home to about 100-plus unicorns and is rapidly emerging as a hub for SaaS start-ups.
SaaS
  • Software as a service (or SaaS) is a way of delivering applications over the Internet—as service ( freeing up the need of installing and maintaining software). It is also called Web-based Software.
  • India now has 18 SaaS unicorns with the country being the third largest SaaS ecosystem globally, after the USA and China.
  • By 2025, the Indian SaaS market will become 7 to 10% of the global SaaS market (from the current 2-4% presently)
  • India is home to about 100-plus unicorns across different segments with an accelerated pace of entrepreneurship and is rapidly emerging as a hub for SaaS start-ups.
Source- Live Mint 

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