The latest IDC report has indicated about the growth of public cloud services (PCS) market in India during the first-half of 2024.
Public cloud services market includes infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and software-as-a-service (SaaS).
The revenue size of the public cloud services market in India was $5.2 billion during 1H2024.
IDC projects that public cloud services market in India will reach $25.5 billion by 2028, growing at a CAGR of 24.3 percent from 2023 to 2028.
The substantial growth in the Indian public cloud services market will be driven by digital transformation initiatives, cost optimization efforts, and the adoption of generative AI (GenAI) workloads. Enterprises are making investment in public cloud as it is emerging as a preferred deployment choice for these applications.
Harish Krishnakumar, Senior Market Analyst, IDC India, said: “As IT strategies evolve, enterprises are expected to gradually migrate their core mission-critical workloads to a public cloud environment. Rising GenAI adoption will be a key driver of public cloud adoption in the coming years.”
The top five vendors accounted for more than half of the market share, with SaaS leading as the largest segment, followed by IaaS and PaaS. Segments like artificial intelligence platforms and application development software experienced notable growth, complementing the demand for established enterprise applications such as customer relationship management (CRM), enterprise resource management (ERM), and collaborative tools.
As Indian enterprises continue to modernize their IT strategies, a significant shift toward multi-cloud architectures is expected to improve cost and infrastructure efficiency. The adoption of AI tools to streamline cloud operations, enhance security, and deliver innovative customer solutions is anticipated to grow.
Public cloud adoption is also likely to extend beyond centralized regions to edge locations, reinforcing its role as a key driver of innovation and operational excellence.
Rajani Baburajan
