India Cloud Computing Market to Grow at a Robust CAGR During Forecast Period
Increasing penetration of internet and growing digital
transformation among industries to drive India cloud computing market
According to TechSci Research report, “India Cloud Computing Market By Type
(Public, Private, Hybrid), By Service (SaaS, IaaS, PaaS, BPaaS), By
Organization Size (Small & Medium-Sized Enterprises (SMEs), Large
Enterprises), By Application (App Hosting, E-mail, Storage & Backup, CRM,
Business Analytics, Database & Content Management and Others), By End User
(IT & Telecom, BFSI, Manufacturing, Government, Healthcare and Others), By
Region, Forecast & Opportunities, FY2026”, the market for cloud computing in India is expected
to grow at a formidable CAGR during the forecast period owing to rising
automation and increasing adoption of cloud computing large scale business
setups. The influence of IT on different verticals has facilitated easier
access of files and folders from anywhere possible. Nowadays, applications of
big data have expanded to healthcare, BFSI and many other verticals, where
there is a significant need for storage of large sized data and its security.
Thus, growth of these sectors is expected to fuel the growth of the cloud
computing market in India. Rising
adoption of artificial intelligence, internet of things and other technologies is
positively impacting the cloud computing market. Furthermore, cloud computing
servers the population with myriad advantages such as prevention of data
breach, easy access of data anytime from any corner of the world, reduced IT
costs, among others, which can also be held responsible for the uptick in
demand for cloud computing in Indian market.
According to National Association of Software and
Service Companies or “Nasscom”, India stands second to China in the queue of
cloud spending. In India, a number of startups have emerged in the last few
years, and in the upcoming period, startups are expected to cover a large part
of the IT sector. This is another factor that has led to the proliferation of
the market as cloud computing provides a diverse platform to startups to
function smoothly.
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India cloud computing market has been segmented on the
basis of type, service, organization size, application, end user and region and
company. Based on type, market has been segmented into public, private and
hybrid. Out of these, public segment is expected to account for the highest
CAGR through FY2026 by the virtue of the shift from “cloud first” to “cloud
only” models. This shift has impelled organizations to increase funding in
cloud services, which has resultantly led to the growth of the segment.
In terms of service, the market has been segmented
into SaaS, IaaS, PaaS
and BPaaS. Among them, SaaS segment is expected to account for the significant
share during the forecast period, followed by IaaS segment. Factors such as
reduced workforce costs, rich talent supply, adoption of artificial
intelligence and machine learning are expected to support the growth of the SaaS
segment until FY2026.
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Some of the leading players
in India cloud computing include Hewlett-Packard India Sales Private Limited, Dell
India Private Limited, IBM India Private Limited, Cisco Systems India Private
Limited, Cognizant Technology Solutions India Private Limited, Microsoft
Corporation India Private Limited, Amazon Web Services, Inc., VMWare Software
India Private Limited, NetApp India Private Limited, NTT Communications India
Private Limited, etc.
“India cloud
computing market is anticipated to witness robust growth during the next five
years by virtue of the global pandemic that has disrupted global economy,
including the Indian economy. Entire network-based work is being carried out
from home, which has significantly increased the demand for cloud computing in
the country. Furthermore, cloud computing also reduces IT costs, which is
expected to prove quite lucrative for the country during the times of
COVID-19,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“India Cloud
Computing Market By Type (Public, Private, Hybrid), By Service (SaaS, IaaS,
PaaS, BPaaS), By Organization Size (Small & Medium-Sized Enterprises
(SMEs), Large Enterprises), By Application (App Hosting, E-mail, Storage &
Backup, CRM, Business Analytics, Database & Content Management and Others),
By End User (IT & Telecom, BFSI, Manufacturing, Government, Healthcare and
Others), By Region, Forecast & Opportunities, FY2026” has evaluated
the future growth potential of India Cloud Computing market and provided
statistics & information on market size, shares, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in India cloud computing market.
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