India’s share of SAP cloud revenues in APAC doubles in two years, according to a senior SAP executive
The number of cloud customers doubled in India in the last two years as the company witnessed rapid growth in the mid-market and enterprise segments.
India’s contribution to SAP’s cloud revenues in the Asia Pacific Japan region doubled in the last two years, a senior SAP executive told ET, as the country remains the top market in the region for the German technology company.
The number of cloud customers doubled in India in the last two years as the company witnessed rapid growth in the mid-market and enterprise segments, said Kulmeet Bawa, managing director and president, India subcontinent for SAP.
Existing customers are migrating their digital core and ERP systems to the cloud, and while we do so, they are also integrating new technologies, according to Bawa. In terms of gaining new clients, India is also one of the top markets in the world, if not the top one.
Globally, 2022 marked a turning point for SAP as it transformed into a cloud corporation when cloud revenues became the main source of income.
According to Bawa, for seven consecutive quarters, the APJ region’s fastest-growing market for SAP has been India.
According to him, growth among all the segments is accelerating and is quite evenly distributed among mid-market and business customers. The business is beginning to increase its clientele in tier II and III cities as well as among digital-first businesses that weren’t prior SAP clients.
In contrast to North America and Europe, where there are worries about the macroeconomic situation, India is in a slightly different frame of mind. Customers are wary of the state of the world economy, but they do not perceive a slowdown in demand in India, he continued.
Similar to what other business IT companies have stated, India experienced constant demand and growth even as other global markets began to slow down.
Driving the adoption of digital and cloud technologies, innovation, and a focus on the mid-market, according to Bawa, will be the main pillars on which he expects the company to grow in 2023.
In the mid-market, “we have had enormous Cloud adoption, and they are adopting more of our products,” he claimed.
In 2023, he anticipates this market to grow, and it will become a crucial support for the German company moving ahead.
Nearly 15,000 SAP employees reside in India, which is the company’s second-largest hub. As a result, a significant amount of technology and intellectual property development takes place in India.
The business just unveiled its low-code, no-code product and anticipates more demand for it in 2019.
According to Bawa, SAP has established a goal of having net zero emissions by 2023 and has committed to assisting clients in putting sustainability policies into effect.
We had set a target of 2025, but certain lessons from the epidemic have helped us lower it, and we anticipate meeting the goal in 2019.
News Source : SAP News