This Business News Story Was Uncovered By Us From: http://www.youngupstarts.com/2019/05/20/why-india-will-become-the-saas-hotbed-of-tomorrow/
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by Prasanna Krishnamoorthy, partner at Upekkha
Just as Information Technology (IT) services transformed India in the 1990s, Software as a Service (SaaS) will dramatically shift the nation in the 2020s. All the ingredients for Indian SaaS dominance are here: From producing some of the world’s best developers to competing on cost and producing quality products of global standard.
Only one decade ago, SaaS products accounted for less than five percent of software. Today, more than one-quarter of all software revenue is derived from the SaaS model, and it is growing twice as fast as traditional software growth.
This is great news for India as all signs point to future domination in the sector. Cloud servers mean solutions can be deployed from anywhere on earth, while monthly payments ensure continual capital. Let’s explore why India is set to grow in the SaaS sector, what it means for both employers and employees and what the rest of the world needs to know about it.
Take it back to the 90s.
What India and IT services were in 1990, India and SaaS are today in 2019. Asserting India as the SaaS hotbed of tomorrow is no small statement, but take a step back to understand why this is the case. Information Technology services in the South Asian nation barely existed at the turn of the final decade of the 20th century. All it took was one, admittedly massive, black swan event to expand the sector exponentially.
That catalyst was the Millenium bug. Companies all over the world raced to debug and reprogram their computer systems before the fateful date – with the Guardian reporting much of the $600 billion fix found “its way to the south Indian city [of Hyderabad].” Every software comp… Read More
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