- As per a news item published in Techcircle, the Indian Software-as-a-Service (SaaS) market could reach $1 trillion in value in the next nine years, Chennai-based SaaS consortium, SaaSBOOMi, in a report said. The report also said that the SaaS boom could see the creation of half a million new jobs. Currently the Indian market comprises more than 1,000 funded SaaS startups and over 10 unicorns, which generate $203 billion in annual revenue and employ over 40,000 people yearly, the report said.
- As per a report in The Economic Times, India, almost 65% of Institutional Channel Partner (ICP) have indicated that they are interested in investing in futuristic technologies such as AI and ML, big data, IoT and smart devices, immersive technologies and chatbots, according to a survey by 360 realtors. Over 150 Industry leaders participated in the survey and 67.1% of respondents have suggested that AI & ML will be frequently used in Indian real estate in the next 12-36 months to prepare property appraisal and valuation.
- As per a report by CB Insights for CY 21 for Q2, more than a year into the pandemic, investment to startups worldwide exploded to new highs in Q2’21, as funding poured in across regions and sectors. The new global funding record was up 157% year-over-year out of which one startup raised a blockbuster $3B in the quarter’s top deal. The highest-valued decacorns, or companies valued at $10B+ and one company saw a massive $73B exit.
- In 2019 India’s fintech market was valued at Rs 1,920 billion. By 2025, it is expected to grow into a Rs 6,207 billion market as per an Indian Government, minister of state. He highlighted that India is a leader in adopting financial technology among emerging markets and the country had an adoption rate of 87 per cent in March 2020, as compared to the global average of 64 per cent.