Enterprises Eye the Lucrative Cloud Market
In the after math of pandemic, the demand for cloud solutions in India has grown exponentially. The growth is driven by the new normal that ties the hands of organizations in terms of physical activities. According to IDC's ‘COVID-19 Impact on IT spending Survey’, around 64 percent of the organizations in India are expected to increase demand for cloud computing. Clearly, the market opportunity is huge. The industry trends in the recent months substantiates this study. The IT aficionados believe that the organizations should bank on this opportunity to digitally transform and find new avenues of growth as a result.
Marketswatch.com’s recent reports second this trend. According to them, the global cloud migration services market was valued at $3.10 billion in 2017 and is expected to reach a value of $9.98 billion by 2023, growing at a CAGR of 21.50 percent. Clearly, the inevitability is getting to organizations. In addition, a study by Marketsandmarkets.com predicts a $101.1 billion future for cloud ERP, the global CRM market is estimated to reach $114.4 billion by 2027, growing at a CAGR of 14.2 percent, according to a new report by Grand View Research.
It’s no wonder the large corporate vendors are bolstering their cloud offerings to deliver cloud solutions in India and across the world from India. Either way, they are investing in cloud. Let’s point out some of such recent activities that are testaments to this trend.
AWS Plans to Launch a Second Region in India
Amazon Web Services, Inc. (AWS) had recently announced its plan to have more investment in India by launching a second infrastructure region in the country by mid-2022. The new AWS Asia Pacific
Region will be located out of Hyderabad and is projected towards providing customers with greater resiliency for critical cloud workloads, lower latency, and improved compliance capabilities.
The Region will have three Availability Zones at launch that will adjoin the existing nine AWS Regions and 26 Availability Zones across Asia in India, Australia, Greater China, Japan, Korea, and Singapore. Amazon’s Availability Zones are technology infrastructure in separate and distinct geographic locations that are maintain enough distance to significantly reduce the risk of a single event impacting customers’ business continuity. Well, Amazon is all for it!
According to a research by Marketswatch.com, the global cloud migration services market is predicted to hit $9.98 billion by 2023, growing at a CAGR of 21.50 percent
IBM had recently divulged its plan to launch of a set of data and automation updates to its hybrid cloud software portfolio. With the new update, the company is upgrading its IBM Cloud Pak for Data and Cloud Pak for Automation, promising integrated data & AI capabilities that run on Red Hat OpenShift. The new stack is reportedly designed to better manage and automate data-intensive processes by coupling the intelligence of Watson AI in hybrid cloud environments. The idea is however to help organizations scale by accelerating digital transformations. “We're driving automation and data management capabilities even farther across the enterprise.” Michael Gilfix, Vice President, Chief Product Officer, Cloud Paks, IBM, said in a statement. India is a significant part of IBM’s cloud roadmap.
Infosys Joins the Race
Infosys, the home grown tech giant, has recently launched a new solution ‘Infosys applied AI’, a new integrated applied AI solution that combines the power of AI, analytics and cloud to deliver new business solutions and perceptive experiences. With Infosys applied AI, the businesses are looking forward to readily accessing, deploying and contextualizing services from the applied AI cloud. According to Infosys, the applied AI solution will cater businesses across the verticals by developing a new source of resilience into their operating model and recognizing smart innovations. Ravi Kumar S, President, Infosys, also divulged his broad plans for Cloud. He says, “Infosys applied AI, together with our investments in cloud through Infosys Cobalt, helps enterprises unlock value from data at scale and enables them to discover new applications that deliver perceptive experiences and differentiated offerings.”
The investments are however clearly eyeing the lucrative global cloud market. According to a research by Marketswatch.com, the global cloud migration services market is predicted to hit $9.98 billion by 2023, growing at a CAGR of 21.50 percent. Who could resist it anyway?!