Feb 13,2023 | Networks & Technology
India cloud computing market is projected to fuel its greater scalability, reduce storage and infrastructure complexities, and increase business efficiency coupled with faster access to infrastructure. Additionally, the growing adoption of emerging technologies, such as big data, Artificial Intelligence, and Machine Learning in various industry will positively impact the India cloud computing market size in future periods.
India is the world’s fastest-growing mobile market, with 20 million subscribers added every month. Over 500 million people belong to the middle class in India. The products and services consumed by them are relevant to other emerging markets. Further, the surge in demand for cloud computing in healthcare sectors and social media facilitating the sectors to reduce their capital expenditure and eliminating the cost of IT infrastructure will drive India to cloud computing market share.
Cloud infrastructure covers the essential components for cloud computing. Cloud computing involves the delivery of computing services such as servers, storage, software, databases, networking, and analytics to customers over the internet. IT, e-commerce, communication and media, telecom, manufacturing, transport, logistics, and retail are the sectors that have adopted cloud infrastructure to enhance day-to-day operations. Based on service type, the cloud infrastructure market is segmented into Infrastructure-as-a-Service (IaaS), Software-as-a-Service (SaaS), Platform-as-a Service (PaaS), Business Process-as-a-Service (BPaaS), and cloud management and security services.
In 2021, the global cloud infrastructure market in India was valued at INR 16,230.09 billion. It is expected to reach INR 124,613.38 billion by 2027, expanding at a CAGR of 24.68% during the 2022 – 2027 period. Artificial intelligence (AI) and machine learning (ML) has resulted in the growth of the cloud infrastructure market by empowering companies to tap into AI and ML capabilities. The Omni-cloud system is increasingly preferred to the multi-cloud approach owing to its multiple advantages and leading cloud computing market trends. Cloud computing can support enterprises to survive the business continuity challenges posed by work from home and other government-imposed regulations affecting the market.
The cloud infrastructure market in India is one of the few sectors that has emerged strong amid the pandemic. The COVID-19 pandemic resulted in a shift toward remote, virtual operations, because of which the demand for secure, reliable, scalable, and cost-effective technologies services went up. This resulted in higher cloud adoption and cloud infrastructure spending. The demand for e-learning, telemedicine, and remote working picked up on account of the growing application of cloud computing during the lockdown. Some of the other sectors that have become highly reliant on cloud computing services are – banking, financial services, and insurance (BFSI), and manufacturing.
For more insights on the market, we would recommend you to visit the Global Cloud Infrastructure Market