Indian SaaS companies will have 7-9% of global market by 2022: Bain

BENGALURU: India is on track to emerge as a SaaS (software as a service) powerhouse, fuelled by a massive shift from on-premise to the cloud, and growing investor appetite, says a new report by Bain & Company on the Indian SaaS business.

Indian-heritage SaaS companies, it says, are poised to collectively reach $18-20 billion in revenue, and capture 7% to 9% share of the global SaaS market by 2022. Currently, their share is estimated at 3-4%.