A bunch of young SaaS startups, including customer analytics platform CloudCherry , web optimisation firm Zarget and enterprise assistance platform Vymo , raised venture capital funding in the past year to expand globally. These startups had secured their initial validation and revenue from Indian customers including large banks, ecommerce companies and retail brands, a market that, according to industry experts, did not exist in India until a few years ago. While this is true for early-stage client deals, big-ticket deals still come from the North American market.This geographic segment contributed to more than half of the total SaaS market share in 2016, according to research firm Gartner. A Transparency Market Research report, however, indicates that the Asia-Pacific region presents the most promising opportunities for SaaS companies with demand fuelled by a rising number of established networks and infrastructures. "While various factors have contributed to the growth of a local market, resulting in the spur of activity in the SaaS ecosystem, a number of vertical SaaS startups (focused on sectors such as healthcare) are also doing well in niche areas," Raghavan said.

Source: Economic Times March 28, 2017 03:13 UTC