December 18, 2023
1 min read

India’s Public Cloud Market Set to Hit $17.8 bn

Enterprises are increasingly investing in modernising applications, developing cloud-native solutions, and exploring artificial intelligence…reports Asian Lite News

The overall Indian Public Cloud services market is expected to reach $17.8 billion by 2027, growing at a CAGR of 22.9 per cent for 2022-27.

According to the International Data Corporation (IDC), the Indian public cloud services (PCS) market, including infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS) solutions, and software-as-a-service (SaaS), revenue totalled $3.8 billion for the first half of 2023.

“Public cloud services in India have evolved beyond just cost savings and flexibility,” says Rajiv Ranjan, Associate Research Director, Cloud and AI, IDC India.

Enterprises are increasingly investing in modernising applications, developing cloud-native solutions, and exploring artificial intelligence.

“While enterprises are ramping up investments in GenAI, chatbots, and conversational AI tools, GenAI tools are specifically used for cost optimisation, application development, and workload testing use cases,” said Ranjan.

SaaS continued to be the largest component of the overall public cloud services market, followed by IaaS and PaaS in H1, 2023. The top two public cloud service providers continue to hold more than 40 per cent of the market.

Despite challenging economic conditions, leading cloud service providers are making significant investments in India. This move signals their confidence in the strong potential of the Indian market.

“Enterprises are increasingly relying on public cloud services as they drive digital transformation, and seek agility and operational efficiency,” says Harish Krishnakumar, Senior Market Analyst, Enterprise IT Services & Cloud, IDC India.

ALSO READ: Recession fears hit IT sector

Previous Story

Recession fears hit IT sector

Next Story

India Set for 45% Emissions Cut by 2030

Latest from Business

Accel Puts India’s AI Power in the Spotlight

Under the theme “Engineering India’s AI Advantage,” the exclusive, invite-only event will bring together leading AI founders, researchers, tech CXOs, policymakers, and global investors….reports Asian Lite News Global venture capital firm Accel

Nvidia slams US chip export curbs as ‘failure’

Jensen Huang said the US move has backfired by accelerating China’s self-sufficiency in semiconductors and diminishing American dominance in the global chip market…reports Asian Lite News Nvidia CEO Jensen Huang has sharply

SEBI Warns on Strata Exit

Strata was one of the first platforms to register under SEBI’s newly introduced SM REIT framework, which was designed to regulate fractional ownership in real estate and allow investors to pool capital
Go toTop

Don't Miss

Malaysia asks India to ease export curbs

Malaysia requests that India maintain the export window for essential

40% of UP is now Covid free

The state is also close to administering 11 crore Covid-19