India is a prominent name among the leading IT industries in the world. The birth of this industry happened with the establishment of Tata Consultancy Services in 1968, and since then, the industry has only ascended towards massive growth. According to a report by The Wire, the industry is set to become worth $5 trillion by 2030! The IT industry, however, is a service industry, and some of its ruling players are Infosys, TCS, Wipro, etc.
But things are changing now. Over the last few years, top product based companies, both local and foreign, have challenged the IT industry, and the emerging start-up culture has had a huge role. According to a report by Economic Times, some top product based companies like Zoho, InMobi, Quickheal, and 27 others will become a $100 million industry, reflecting the emerging possibilities of the relevant sector.
Tamil Nadu, one of India’s prominent IT hubs, is also welcoming the growing wave of product-based companies like Amazon, Freshworks, PayPal, and more.
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In this article, we will understand the work of these companies and some of the top product-based companies in Tamilnadu.
What is a Product Based Company?
Product-based companies are motivated by a desire to provide items with a high market value that will please a diverse variety of clients. The main focus here would be on the improvement of a product and how it can maintain supreme quality. They are always working on upgrading and adding new features to the product by leveraging various technologies. Some leading product-based companies worldwide are Google, Facebook, Microsoft, Goldman Sachs, Amazon, IBM, and many more.
Why Join a Product Based Company?
Most of the best product based companies are in the IT industry, and no one gives you as many opportunities to grow and create as these companies do. Here are some reasons you should consider joining a product based company –
- There is a high level of involvement and ownership in a product-based firm, and candidates are directly engaged in all stages of product development.
- Any student will get a great chance to learn all aspects of the industry, including competitions, business-related problems, and their solutions. This will enhance problem-solving skills and allow students to explore new horizons.
- Product-based companies have far greater leeway to explore, both in terms of setting the direction of the product portfolio and the chances to expand into new goods or business initiatives.
- Candidates will develop a product thinking mindset, enabling experiment and research abilities.
- Employees are working on a solution for end users. They can plainly observe how their work affects their operations and business directly.
Best Product-Based Companies in Tamil Nadu
The impact of a product based industry is seen worldwide. Several IT hubs in India have contributed to this growth and development, with Tamil Nadu being one of them. According to Dataquest, Chennai, the capital of Tamil Nadu, is ranked at the 3rd position in the top tech cities of India, helping it to become a shared ground for the best product based companies.
Tamil Nadu has been showing a collective growth of 11%-12% and has the potential to grow its economy to achieve $1 trillion by 2030. Product based companies play a major role here. The state is working towards becoming the IT hub of South Asia, and the state government is taking accurate actions towards it.
Here is a list of some of the top product based companies in Tamil Nadu –
Amazon is one of the top 5 tech companies in America. To run this e-commerce business, the company requires top IT professionals from all over the world. They first came to Tamil Nadu in 2005. Over the years, Amazon has hired over 14,000 IT experts from Tamil Nadu. Looking at the oversea operations of the conglomerate, then Tamil Nadu is of great importance to the company.
The average salary of an Amazon employee starts from INR 244,725 pa to INR 3,241,018 pa.
Walmart Labs, often known as Walmart Global Tech, is the world’s largest retailer’s technology business. Jobs at Walmart Global Tech include software engineers, data engineers, and data scientists, as well as those in the supply chain, business development, human resources, and marketing. Walmart Global Tech has its office in Chennai, Tamil Nadu.
The average salary for a software engineer at Walmart Global Tech is INR 24,17,895 pa.
Freshworks is a national Unicorn that expanded internationally to be closer to its clients. The cloud-based IT solutions provider for enterprises, founded in Chennai in 2010, is currently headquartered in California, United States. However, this does not prevent the Software as a Service (SaaS) from hiring a considerable staff from Chennai.
The average salary for a software engineer at Freshworks is INR 16,31,769 pa.
Chargebee is one of the most valued Indian fintech companies situated in Chennai. It is a subscription solution provider that may help you manage all parts of your customer’s subscription life cycles, such as recurring billing and trial management.
The average salary of Chargebee software engineer employees ranges from INR 10,50,000 to INR 25,00,000 pa.
As it is more frequently known, HP is a hardware industry household name. The firm was created in Palo Alto, California, and its primary concentration was on the production of hardware components.
These components are employed in various areas, including health, education, and information technology, to mention a few, in addition to the consumer sector.
The average salary of a software engineer at HP is INR 10,71,802 pa.
Microsoft was founded in 1975 by Bill Henry Gates and Paul Allen as a worldwide firm that provides computer software, consumer devices, and related facilities.
Microsoft is a cutting-edge business that constantly creates new software and products. This is software millions of people use worldwide, which is why their work needs to be top-notch. They have a good number of employees from Chennai.
The average salary of a software engineer at Microsoft is INR 31,60,000 pa.
It is one of the world’s earliest online payment services and has been operating in India for over a decade. Other offerings include banking services, help to buy and sell cryptocurrency, bill payments, and other services.
PayPal now owns the online payment companies Braintree, Venmo, and Xoom, bringing its total user base to 325 million active customers.
The average salary of a software engineer at PayPal is INR 22,00,000 pa.
It is one of the largest software development firms in Chennai, India. Mr. Sridhar Vembu and Tony Thomas founded Zoho in 1996. Over the years, this organisation has grown well-known and crucial in the software industry. Zoho now employs over 6000 people worldwide. This organisation operates in seven different countries, with its worldwide headquarters in Chennai. Zoho is an IT and software company that specialises in web business solutions.
The average salary of a software engineer at Zoho is INR 7,90,000 pa.
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It is a smart application designed to improve client experiences. CloudCherry can help sales teams in many industries increase their credibility and quality. It will result in improved support operations and improved customer communication. Companies may create goods and minimise shortcomings by listening to their customers’ voices and learning from their feedback.
The average salary of a software engineer at CloudCherry is INR 8,97,899 pa.
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This SaaS-based financial firm provides a customised CRM platform to help businesses manage their receivables more effectively.
Growfin.ai has a number of capabilities, such as real-time collection procedure tracking and improved cooperation across teams – both in the finance and customer-facing departments. It also automates the collection process to identify trends in collections and reports on collections.
The average salary for a software engineer at Growfin.ai is INR 15,00,000 pa.
In-Demand Software Development Skills
Tamil Nadu is home to many product-based MNCs and start-ups that provide various solutions to meet the demands of the local and international markets. And the preceding list of top product based companies in Tamilnadu demonstrates this point. Perceiving the exceptional growth of product based companies in Tamilnadu, candidates can start preparing to become a part of this expansion, and the best way to do so is by upskilling!
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This program curriculum focuses on teaching Data Structures and Algorithms, Frontend and Backend development, as well as skill enhancement in the tech industry, helping you keep up with the industry advancements. upGrad’s added benefits, such as student support, peer networking, mentorship under industry professionals and a flexible learning environment, make it one of the best choices to enhance your career!
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What are the top industries in Tamil Nadu?
There are five main flourishing industries in Tamil Nadu, Cement, Fertilizer, Sugar, Paper, and Automobile. Stepping into one of these is sure to offer you a dynamic career and an equally pleasing salary package.
Are product-based companies good to work in?
Product-based companies are fantastic places to advance your career. Seeing one's own ideas become a reality gives one a sense of accomplishment. Because the emphasis is on expertise, the pay is competitive.
Are there any product-based companies in Hyderabad?
Yes, some very popular companies are product-based in Hyderabad, like Uber, Qualcomm, Electronic Arts, Nvidia, ServiceNow, and many more.