India’s SaaS sector tops $15 billion in revenue as IPO pipeline builds
India’s software-as-a-service (SaaS) sector crossed $15 billion in annual revenue in FY24, boosted by more than 36 companies topping $100 million in annualised recurring revenue (ARR), according to a report by financial services firm JM Financial.
The report titled ‘India’s SaaS: Taking Wings,’ which analysed 250 SaaS companies across industries with an ARR of at least $10 million, noted that the space grew at a compound annual growth rate (CAGR) of 24% between FY19 and FY24.
