Report Shows Promising Outlook for Indian B2B SaaS Industry in 2023 Despite Global Challenges

A report released on February 28th by EY and Upekkha Value SaaS Accelerator shows that the Indian B2B software-as-a-service (SaaS) market looks very promising in 2023 despite the challenges faced globally.

The report, called ‘Bellwethers of Indian SaaS,’ says that this sector is highly efficient with money, and has not been affected too much by the economic downturn in the past year.

According to the report, eight out of ten Indian SaaS companies have been able to grow while spending only 1.5 times their revenue or less, which is really good. This shows that these companies are being really careful with their money while they build and expand their businesses.

The report also says that a lot of companies are looking to grow really fast. Four out of ten companies want to increase their yearly revenue by over 100%, while eight out of ten want to grow by over 50% in 2023.

Most of the really fast-growing companies work in areas like artificial intelligence, HCM (human capital management), Fintech, and CRM (customer resource management)/CDP (customer data platform) SaaS segments.

The report also says that Indian SaaS companies are really efficient with money, which is better than other companies around the world. This means that they have an advantage when they want to get more money from investors.

The report predicts that funding for Indian SaaS companies will increase soon because the economy is getting better and there is a lot of money available for companies like these.

Kamalanand Nithianandan, a Partner of Business Consulting at EY India, said that Indian B2B SaaS companies are about two times more efficient with money than companies around the world. This makes it easier for them to get money from investors when they want to grow.

Thiyagarajan Maruthavanan, a Partner at Upekkha Value SaaS Accelerator, said that only companies that are efficient with money will be successful in the future.

Overall, this report shows that the Indian B2B SaaS market is in good shape and is likely to keep growing really fast in the future.