SaaS to spur revenue growth for IT firms in 2024: Analysts

Optimism over SaaS (software as a service) companies will drive revenue growth of Indian IT firms in 2024, while ER&D (engineering and research and development) work will remain a bright spot, according to analysts.

Indian IT players have ‘sell-to’ and ‘sell-with’ partnerships with a number of global SaaS companies, ICICI Securities said in a note. Recent results of such global companies and commentaries of their managements indicate that they “exhibit a texture of stable demand, and even improvement”.