CIOInsider India Magazine
India's Public Cloud Services Market to Hit $ 9.5 Billion By 2025: IDC
According to a new IDC assessment, the Indian public cloud services market revenue which hit $3.6 billion in 2020, is expected to reach $9.5 billion by 2025, growing at a CAGR of 21.5 percent. Infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and software-as-a-service solutions are all part of the Public Cloud services market (SaaS).
According to IDC's 'Worldwide Semiannual Public Cloud Services Tracker', the Indian public cloud services market totaled $1.9 billion in the second half of 2020.
"In 2020, businesses relied heavily on public clouds for business continuity, flexibility, and agility. As organizations speed up the development and deployment of business applications to meet the changing work and business environment, the cloud will become increasingly important”, said Rishu Sharma, Principal Analyst, Cloud and Artificial Intelligence, IDC India.
The top two service providers currently control 49 percent of the Indian public cloud services industry in 2020, hence the spending continues to grow.
Despite the fact that enterprises in the country have been talking about cloud adoption for a few years, the Covid-19 pandemic prompted them to move quickly with their cloud strategy.
"This resulted in a several-year jump in cloud use in the country. Businesses began employing the cloud to host a variety of applications, ranging from email servers to more complicated systems such as data warehousing, sophisticated analytics, and so on", said Harish Krishnakumar, Senior Market Analyst, IDC India.
Enterprise applications were also migrating to the cloud at a faster rate.
"Moreover, the pandemic's remote working fueled demand for remote storage capabilities, as well as boosted use of cloud-based collaboration tools, VDI apps, and other technologies," Krishnakumar noted.
The pandemic remained the primary driver of cloud adoption, with businesses continuing to invest in cloud infrastructure, platforms, and software to improve the resiliency of their business processes and prepare for future pandemic waves.
IDC predicts cloud use to accelerate for quick digital innovation as business objectives focus on gaining robustness.
"This resulted in a several-year jump in cloud use in the country. Businesses began employing the cloud to host a variety of applications, ranging from email servers to more complicated systems such as data warehousing, sophisticated analytics, and so on", said Harish Krishnakumar, Senior Market Analyst, IDC India.
