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Why India's SaaS ecosystem is poised for success in 2024

OutlookIndiaOutlookIndia · 8m
Why India's SaaS ecosystem is poised for success in 2024

According to a report by Bain & Company, India's SaaS ecosystem is the second largest in the world. The thriving SaaS sector in India is attributed to factors such as customer preferences, accessibility, and vendor efficiency. The country's SaaS companies exhibit financial discipline and capital efficiency, and with a strong operational foundation, they are well-positioned to establish a winning position in the global market. While there have been challenges such as a market correction and the impact of remote work models, the Indian SaaS sector is uniquely positioned to meet the growing demand for cost-efficient, full-featured applications. The report also highlights the importance of technology trends, such as niche markets, security, privacy, and the role of AI in driving SaaS growth in India.

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