How Will 5G Services Bolster Indian SaaS Startups?
On 1 October 2022, PM launched the 5G service in India. The launch was awaited for a long time by the telecom companies. As soon as the services started Jio, Airtel and VI all gave a signal of their 5G services to be pan India in a specific time period. However, telecom companies are not the only ones excited about 5G. The whole disrupters community is looking for it as a good sign.
The rise of startups or mainly the market disrupter has happened due to the internet rates fall and the Pandemic. People shifted their world from offline to online. The startup categories like fintech, ed-tech and Software as a Service (SAAS) were the major beneficiary. Hence, the 5G services launch in India has made startups more excited about it.
“We will witness a further great surge in Smartphone demand with the mass need to switch to 5G handsets and benefit from the network capabilities. Data in India has been among the cheapest in the world, and now internet adoption will become more ubiquitous. With 5G delivering faster connectivity and richer data experience, we will also see mass consumption of chats, and video content, and expansion of the Metaverse which will create a seamless movement between digital and offline lives for people.” Said Venkatesh Sundar , CMO and Co-founder at Indusface.
“The exponential growth of the app economy also will drive integration between applications and devices using public API to provide enriched experiences to 5G users. This creates a tailwind for further growth to the cyber security industry and specific application and API security SAAS providers like Indusface” added Venkatesh Sundar.
The new emerging areas such as Augmented Reality, Virtual Reality, and the Internet of things (IoT) are heavily dependent on the factors like Internet connectivity, internet penetration and speed. Another emerging and futuristic technology called metaverse which is considered to be an alternate reality lies heavily on the Internet.
“We welcome better connectivity and, more than that, the new use cases that would be possible for our clients and us. At the same time, enhancing the existing networks, BSS, and OSSs to support 5G technology and the same faced by our clients from other industries would improve their products with the new possible use cases through IoT, AR/VR, and Machine to Machine communications over 5G. We have been gearing up for this day.” Said Amit D Mishra, Founder and CEO at iMocha.
“As 5G makes previously impossible use cases possible or optimal for usage, SAAS companies in IoT, AR/VR, Machine Communications, and Gaming over 5G will be able to bring more innovative features to their products. iMocha will benefit from the revenue growth since, to build these features, these startups will face talent challenges, both in acquiring new talent and upskilling and reskilling existing talent; hence, we see additional logos and revenue growth,” he added.
5G is considered to be 20 folds faster than 4G. The new technology will allow deep penetration of the internet and high speed which allows anyone to work from any remote location. It will also support the idea of the Internet of things which is connecting electronic gadgets with the internet for ease of operations. The emergence of new technologies such as self driving will be bolstered by it.
