- “Companies have woken up to the fact that people want outcomes, not ownership. They want customized experiences, and they want continuous improvement, not planned obsolescence. This isn’t a software story anymore. The table stakes have been raised for every industry” – Tien Tzuo Founder and CEO, Zuora
- The study by CII and EY, titled — India: The next global SaaS capital –cited India is home to about 100-plus unicorns across different segments with an accelerated pace of entrepreneurship and is rapidly emerging as a hub for SaaS start-ups.
- With Software as a Service (SaaS) setting the stage for the next wave of disruption, the Indian IT sector continues to charge ahead on its trajectory of growth and transformation, said a survey by CII and EY.
What is a cloud service?
- Cloud services can include software, data storage, databases, servers, networks, computing and other services that are accessible on-demand though the internet. As these services are externally located they are referred to as a cloud, thus the term “cloud services”. Anyone can use these services as long as there is access to the internet.
What are the key differences between all of them?
- The difference between SaaS, PaaS, laaS, and DaaS is the scope of service that is provided.
- SaaS provides software in addition to PaaS.
- PaaS provides a platform in addition to laaS.
- laaS provides infrastructure such as servers.
- DaaS provides a virtual desktop environment.
- SaaS is ideal if you need ready-to-use software and don’t want to spend time on anything else. However, if you need more customization options you should consider laaS, PaaS, and DaaS.
Examples of IaaS
Popular examples of IaaS Include
- Digital Ocean, Lincode, Rackspace, AWS, Cisco Metcloud, Microsoft Azure, Google compute engine (GEC)
Example of PaaS
Popular examples of PaaS Include
- AWS Elastic Beanstalk
- Windows Azure
- Google app Engine
DISADVANTAGES OF SAAS SERVICE
- Loss of control
- Use limited applications
- Connectivity Issues
- Limitations in its function and feature
- Reduce the level of performance for the organization
The next global SaaS capital
- The study, titled — India: The next global SaaS capital — cited India is home to about 100-plus unicorns across different segments with an accelerated pace of entrepreneurship and is rapidly emerging as a hub for SaaS start-ups.
- According to the study, over 80 percent of the SaaS promoters who contributed to the report feel there is the need to build a robust talent pool; 50 percent of SaaS providers feel driving greater awareness for SaaS products continues to be a prerequisite for customer acquisition.
- It added, India is poised to become the global SaaS capital over the next few years, mainly driven by Small and Medium Businesses with a focus on large enterprises.
- Apart from this, the study said that one-third of the SaaS providers are being increasingly cautious with their go-to-market strategy and mainly targeting niche segments to acquire marquee clients by understanding new digital buying preferences of the customers, following a digital-first approach and offering innovative pricing models.
- “Macro-economic environment notwithstanding, the funding activity in the first two quarters of this year surpassed the funding activity in 2021 – which was a breakout year with over USD 4.3 billion in funding for SaaS start-ups,” EY India’s Technology Sector Leader Nitin Bhatt said.
- The large consumer base in India, coupled with a technology—first mindset is paving way for the emergence of consumer-focused SaaS solutions as adoption levels continue to rise, the statement said.
- The Indian SaaS market is expected to grow multi-fold by 2025, accounting for almost seven to ten percent of the global SaaS market from two to four percent at present.
- Compared to one in 2018, India now has 18 SaaS unicorns with the country being the third largest SaaS ecosystem globally, after the USA and China, it said.
- The number of SaaS companies in India have more than doubled in 2021 as compared to 2019 and the funding too increased from $2.6 billion in 2019 to $6 billion in 2021.
- The report also stated that according to industry estimates, the market is expected to reach $20-25 billion by 2025 from $4-7 billion in 2020.