“India is a big and under-penetrated market for no-code technology and will continue to be one of our focus markets. However, we think that the growth potential for no-code is unlimited and we want to capture that. That’s why we have plans to expand to North America and Europe, which are more mature in terms of new tech adoption,” Agrrawal said.
Citing industry data, he said that these two markets are the top regions for no-code and the company is ready for an international launch in the last quarter of this fiscal.
He said the company is also working to increase the number of enterprise customers from over 50 right now to 250 by the end of 2023.
“The plan is to raise the number of transactions 10 times in the next 12 months to 10 million a month as compared to 1 million at present. Our international launch along with a strong India presence will enable us to achieve the ambitious goals we have set for ourselves in the next 12 months. This will also contribute to our targeted revenues of U4 million by 2025,” Agrrawal said.
According to industry estimates, the global no-code market is projected to grow to $65 billion by 2027 and a major portion of this will be contributed by North America and Europe. India, on its own, would grow 10 times to $4 billion by 2025.
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About the hiring plans, he said the firm would increase its workforce by 20 per cent in the next 12 months, “but we would not hire indiscriminately”.
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