Cloud market to reach $7 billion in India in 2022

India’s cloud market is expected to grow at a rate of ~30 percent CAGR, and is estimated to touch over $7 billion in 2022, according to a NASSCOM report.
Cloud market share Q4 2018
Meanwhile, the above chart prepared by Canalys analyst team indicates the market share of major Cloud vendors such as Amazon Web Services (AWS), Microsoft Azure, Google Cloud, Alibaba Cloud and IBM Cloud during Q4 2018.

CIOs must develop a comprehensive cloud strategy for their organizations to maximize the value of cloud investments. A Gartner report said CIOs must educate their CEOs and boards of directors about the need to invest in cloud as a style of computing that drives greater speed, agility and innovation.

Cloud computing in India is currently estimated to be $2.5 billion in 2018, dominated by IaaS and SaaS.

Cloud spending in India is second highest in the world at 40.2 percent CAGR over 2016-18, second only to China.

Globally, the cloud spending on IT is growing at 16.5 percent CAGR and is expected to touch $345 billion by 2022, according to the report done in collaboration with Google Cloud and Deloitte Touche Tohmatsu India.

Cloud spending is on a growth trajectory propelled by factors such as increased awareness of Cloud, consumerization of IT, proliferation of start-up ecosystem, diverse landscape of supplier ecosystem, rising investments in infrastructure, talent, strategic partnerships and the impetus from key digital-led Government programs.

Factors that can drive the IaaS uptake in India are – an improved infrastructure, economic benefits, increased innovation, vibrant start-up ecosystem and connected ecosystem.

Lower cost of workforce, abundant talent availability, mature sales eco-system, adoption of newer technologies like AI, ML to build world-class products will boost the SaaS ecosystem.

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