Summary- A new market study, titled “India Cloud Computing Market by Service Model (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)), by Deployment Model (Public, Private, and Hybrid), by Organization Size (Small and Medium-Sized Enterprises, and Large Enterprises), by Workload (Application Development and Testing, Storage, Backup, and Disaster Recovery, Database Management, Business Analytics, Integration and Orchestration, Enterprise Resource Management, and Collaboration and Content Management), By End-User Industry (BFSI, IT and Telecommunications, Government and Public Sector, Retail and Consumer Goods, Manufacturing, Energy and Utilities, Media and Entertainment, Healthcare and Life Sciences and Others), and By Region (North India, South India, West India and East India)- Forecast to 2027”Market Overview
India cloud computing market projected to fuelling its greater scalability, reduce storage and infrastructure complexities, and increase business efficiency coupled with faster access to infrastructure
The India cloud computing market estimated to grow over a CAGR of 20.61% during the forecast period. The key factors are the ability of cloud computing to increase enterprise, reduce operating costs, and functional capabilities that boost the business performances of the organizations. 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.
Moreover, the increasing adoption of cloud computing by large enterprises and Small and Medium Enterprises (SMEs) for on-demand and need-based services and provide much larger business space are expected to foster the growth of the market. Recently outbreak pandemic, COVID-19, has caused lockdown around the globe. For this, various industries adopting cloud computing to support remote workforce to induce investment in IT infrastructure. These factors anticipated promulgating the growth of the India cloud computing market in the analysis periods. Service Model Overview in the India Cloud Computing Market
Based on the service model, the India cloud computing market classified into Platform as a Service (PaaS), infrastructure as a Service (IaaS), and Software as a Service (SaaS). The infrastructure as a Service (IaaS) will be the fastest-growing segment in the forecast period. It is attributable to Mass provides flexibility, easy, mobility, and scalable access to applications, and enhanced collaboration to help enterprises focus on their core businesses.
SaaS cloud computing captured the highest revenue in 2019 in the Indian cloud computing market owing to the use of SaaS for the distribution of software so that the consumers can access over the Internet.
Deployment Model Overview in the India Cloud Computing market
Based on the deployment model, the India cloud computing market segregated into Public, Private, and Hybrid. The hybrid cloud computing held for the highest revenue in 2019 due to those industries which prioritize compliance, security, and customer experiences such as healthcare, BFSI, and government adopting the hybrid deployment model.
Public deployment captured the significant market share in 2019 as a result of the scalability and flexibility of the public cloud technology, and the security aspects, and control over the data center.
Organization Size Overview in the India Cloud Computing Market
Based on organization size, the India cloud computing market bifurcates into Small and Medium-Sized Enterprises and Large Enterprises. Small and Medium-Sized Enterprises accounted for a larger market share in 2019 and projected to lead the market by 2027. It is due to the benefits of cloud computing, such as flexible pricing models offered, boost in employee productivity, and improvement in collaboration and innovation. They are widely using cloud computing for marketing, financial management, project management, and building customer relationships, among others.
Workload Overview in the India Cloud Computing Market
Based on workload, the India cloud computing market categorized into application development and testing, storage, backup, and disaster recovery, database management, business analytics, integration and orchestration, enterprise resource management, and collaboration, and content management. The enterprise resource management segment generated the largest revenue in 2019, on account of ERP help in growing data-intensive workloads, infrastructure advancements to support large-scale execution of workflows, and development of the hybrid cloud.
End-user Industry Overview in the India Cloud Computing Market
Based on the end-user industry, the India cloud computing market segmented into BFSI, IT and Telecommunications, Government and Public Sector, Retail and Consumer Goods, Manufacturing, Energy and Utilities, Media and Entertainment, Healthcare and Life Sciences and Others. BFSI segment estimated to dominate the cloud computing market by 2027. It is due to the rise in the application of cloud computing in the BFSI industry for services such as payment gateways, online fund transfer, digital wallets, and unified customer experience.
Regional Overview in the India Cloud Computing Market
Based on geography, the India cloud computing market segmented into North India, South India, West India, and East India. North India accounted for maximum revenue share in 2019, owing to the high adoption of cloud computing in IT & ITeS, telecommunication, BFSI, Government, etc. to achieve greater business agility and satisfy their customers.
India Cloud Computing Market: Competitive Landscape
Companies such as AWS, Microsoft, Google, Alibaba, SAP, IBM, Oracle, VMware, Rackspace, Salesforce, Adobe, Verizon, CenturyLink, Fujitsu, NTT Communications, Cisco, Dell, Equinix, HPE, Cyrusone, Digital Realty, Lenovo, Tencent, SAP, Cloudbees, Workday, Infosys, Accenture, Capgemini, TCS, AT&T, T-Mobile, Vodafone, Wipro, Zenith InfoTech, Wolf Frameworks, OrangeScape, Cynapse, and Synage, are the key players in the India Cloud Computing Market.
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