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Springboard estimates that the Indian SaaS market, valued at US$105 million in 2009, will be worth US$352 million by 2012. It's likely to register a growth of 60% CAGR from 2008 to 2012. The bulletin also discloses that India is the fastest growing SaaS market in Asia Pacific. The insights in the research bulletin are gained from a survey of 121 CIOs and IT managers of large, medium and small enterprises in India.
According to the report, zero or low maintenance is one of the major reasons for SaaS adoption in India, followed by ease of use. Among SaaS vendors, Salesforce.com, Citrix Online and Cisco WebEx have a strong hold over the market. The report observes that SaaS has been adopted by enterprises within verticals like power, infrastructure, contact centers, banking and technology.
In terms of satisfaction, SaaS scored an average of 8 on a 10 point scale. Among applications, email scored the highest with 9.5, while ERP generated a comparatively low level of satisfaction at 7.6. Among the respondents who did quantify SaaS-related savings, email had an astonishing 127% return on investment.