Indonesia's Software-as-a-Service Revenue Poised for Continued Growth Until 2028

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Erlina Fury Santika 09/11/2024 13:10 WIB

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Statista data processed by DS Innovate shows that revenue from software continues to increase until 2028. This is the trend since 2016.

Trends and Projections for Software as a Service (SaaS) in Indonesia (2016-2028*)

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Trends and Projections for Software as a Service (SaaS) in Indonesia (2016-2028*)

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Data from Statista, processed by DailySocial or DS Innovate in their *Startup Report 2023*, compiles revenue and projections from software businesses, or Software as a Service (SaaS), in Indonesia. The figures are predicted to continue increasing until 2028.

In 2016, revenue from SaaS businesses reached US$79.76 million. Just one year later, revenue exceeded US$120 million in 2017.

Revenue then rose to US$232 million in 2020. The latest data in 2023 even reached US$427.10 million.

DS Innovate projects revenue to reach US$490.2 million in 2024. Meanwhile, it is projected to reach US$769.1 million in 2028.

"Revenue is expected to show a Compound Annual Growth Rate (CAGR 2024-2028) of 11.92%," wrote the research team, as quoted on Saturday (November 9, 2024).

DS Innovate also projects average spending per employee in the SaaS market to reach US$3.41 in 2024.

"With Indonesia's focus on digital transformation, the SaaS market will grow," said the research team.

The research team also shared strategies for rapid expansion. According to them, SaaS companies need reliable distribution channels.

"Partnering with telecommunications service providers, given their extensive customer reach and operational infrastructure, is a strategic step for SaaS players," said the research team.

The compiled data uses an exchange rate and incorporates calculations for the Russia-Ukraine war. Data was updated in September 2023.

(See also: This Startup Sector with the Most Investment Deals in Indonesia 2024)

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indonesia's Software-as-a-Service Revenue Poised for Continued Growth Until 2028

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