Indian Software-as-a-Service (SaaS) companies are looking towards Southeast Asia for expansion, as they seek to capitalize on the region’s projected SaaS market size of $3.4bn in 2027, according to a Mint report. As of 2022, investment in India’s SaaS sector had reached an all-time high of $5bn, with the country boasting the second largest SaaS ecosystem in the world, behind the US, and expected to reach $35bn in Annual Recurring Revenue within five years. SaaS firms looking to expand into Asia are localizing their products by offering support in main Southeast Asian languages and setting up local offices in countries like Singapore and Indonesia. Unicommerce has reported an annual run rate of 4 million transactions in SEA, while Wingify has seen revenues from the region rise 41% since January 2021.
India’s SaaS Firms Tap into Southeast Asia’s Potential with ‘Act East Policy’
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