Indian SaaS sector likely to reach a market size of $50 billion by 2030

The Indian Software-as-a-Service (SaaS) sector is projected to reach $50 billion by 2030, with a possibility of an upward revision given the rapid advancements in AI and its integration into SaaS solutions, said a report.

The report titled “The Rise of SaaS in India 2024” by Bessemer Venture Partners also added that the Indian SaaS sector is set to undergo a major transformation driven by the rapid adoption of Artificial Intelligence (AI), increasing focus on cybersecurity, and increasing cloud adoption in the banking, financial services, and insurance (BFSI) and manufacturing industries.