According to market research firm International Data Corporation (IDC), India’s public cloud services revenue will grow at a CAGR of 23.4% from 2022 to 2027 on the back of increased digital transformation efforts by enterprises, estimated to reach $17.8 billion by The latest report released on Thursday.
A public cloud is a third-party management platform that uses standard cloud computing models to make resources and services available to organizations using the public Internet.
The overall Indian public cloud services market, which includes software as a service (SaaS), infrastructure as a service (IaaS) and platform as a service (PaaS), will generate total revenue of 6.2 billion in H2 made dollars. (July-December) Added report for 2022.
SaaS will continue to be the largest component of the overall public cloud services market, followed by IaaS and PaaS in 2022, with the top two cloud service providers accounting for more than 40% of India’s public cloud services market. said the research firm.
Despite increasing global macroeconomic headwinds in the second half of 2022, the Indian public cloud services market will see strong growth driven by the acceleration of the digital transformation of Indian enterprises, with cloud service providers continuing to serve small and medium enterprises (SMBs) and We have witnessed an increase in demand from start-ups. the study points out.
The report further notes that enterprises are increasingly using computing and storage services as part of their IT infrastructure modernization efforts, with cloud-based collaborative applications, enterprise resource management (ERM) and customer relationship management (CRM). ), and customer relationship management (CRM). security software.
The demand for public cloud services was also driven by accelerated AI adoption due to increased investment in cloud-based AI platforms by enterprises, he added.
Harish Krishnakumar, senior market analyst at IDC India, is also accelerating cloud-native application development for AI/ML, analytics, and more.
Krishnakumar said businesses will be more inclined towards a consumption-as-a-service model for their IT infrastructure requirements as a means of containing IT spending and alleviating talent shortages in IT operations during tough economic times. Stated.
India is one of the largest and fastest growing cloud markets and global enterprises are increasingly looking to its potential. Amazon Web Services (AWS) has announced plans to invest $12.7 billion in India’s cloud infrastructure by 2030 to meet growing customer demand for cloud services in India. AWS said the investment will be used to build cloud infrastructure in India and will support more than 100,000 full-time jobs annually. The investment is expected to contribute her Rs 194,700 crore ($23.3 billion) to India’s Gross Domestic Product (GDP) by 2030.
Google is expanding its cloud infrastructure by building a cluster of local data centers in India and will make strategic investments over the next few years from a $10 billion fund allocated to boost India’s digitalization. going. India remains a long-term opportunity for his Google Cloud, Bikram Singh Bedi, his director of managing Google Cloud in India, said in an interview with his Mint in February. said.
Last year, Microsoft announced it invested 150 crore rupees (about $2 billion) in establishing Hyderabad, India’s largest data center region, making it the country’s fourth data center region after Mumbai, Pune and Chennai. Microsoft has a network of 160 data centers organized into 60 data center regions worldwide.
Rajiv Ranjan, Associate Research Director of Cloud and Artificial Intelligence at IDC India, said, adding that improving the customer experience is a top priority for Indian companies. “In the next few years, we will likely see increased adoption of AI technologies, containerized applications, edge computing, serverless computing, and Kubernetes technologies to make infrastructure and applications on the cloud even more efficient and agile. expected,” he said.
