India Cloud Computing Market Size Zooming More Than 2.75X to Reach USD 17.8 Billion by 2029

Published | 31 August 2023

India cloud computing market is flourishing due to the growing need for hybrid models, omni-cloud systems, and pay-as-you-go model, and the practical ability of cloud computing to enhance business performance in major businesses.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India cloud computing market size at USD 6.47 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the India cloud computing market size to grow at a CAGR of 18.37% reaching a value of USD 17.80 billion by 2029. The growth of the India cloud computing market is fueled due to an increasing need for hybrid models & omni-cloud systems, and pay-as-you-go models and the practical ability of cloud computing to enhance business performance in major businesses. Additionally, cloud services have grown in popularity in underdeveloped areas as companies have been forced to enhance their digital operations. Government initiatives to safeguard data security and integrity are also helping the sector to expand in the coming years. Additionally, a significant rise in the number of small and medium-sized businesses will eventually result in a rise in the use of cloud services in these areas.

Opportunity: Growing popularity of omni-cloud solutions

The India cloud computing market is set to experience significant growth, due to the increasing adoption of omni-cloud solutions, a term that refers to the use of multiple cloud services from different providers. This trend is gaining momentum as businesses and individuals realize the benefits of using a combination of cloud services that best suit their needs, allowing them to access a variety of tools and resources. Omni-cloud solutions offer flexibility, efficiency, and the ability to choose the most suitable services for different tasks. As this approach becomes more popular, it is anticipated to drive the expansion of the cloud computing market in India, shaping how technology is used and transforming the way businesses and people access and utilize digital resources.

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Segmental Information 

India Cloud Computing Market - By Enterprises

Based on the enterprises, India cloud computing market is divided into large enterprises and small & medium enterprises segments. The small & medium enterprises segment is expected to grow at the highest CAGR during the forecast period. These businesses, which include smaller companies and startups, are increasingly embracing cloud technology due to its affordability, scalability, and accessibility. Cloud computing allows SMEs to access advanced tools and resources without hefty upfront costs, enabling them to compete effectively and innovate within their respective industries. This heightened interest in cloud services among SMEs stems from their pursuit of cost-effective solutions and operational efficiency, thus driving the growth of the India Cloud Computing market as a whole.

India Cloud Computing Market - By End-User

Based on the end-user, India cloud computing market is divided into BFSI, telecom and IT, media and entertainment, energy and utilities, manufacturing, e-commerce, government & public sector, healthcare and other segments. The e-commerce segment is expected to grow at the highest CAGR during the forecast period. E-commerce businesses, which operate online marketplaces for buying and selling goods and services, heavily rely on cloud computing to manage their websites, handle customer transactions, and store vast amounts of data. As the popularity of online shopping and digital transactions continues to soar, e-commerce companies are increasingly adopting cloud solutions to ensure seamless and secure operations, efficient order processing, and enhanced customer experiences. This surge in demand for cloud services by e-commerce players has propelled the growth of the India Cloud Computing market, highlighting the pivotal role of cloud technology in enabling the dynamic and rapidly evolving e-commerce landscape.

India Cloud Computing Market – By Country

Based on the country, India cloud computing market is divided into North India, South India, East India and West India segments. The North India region is expected to be the fastest growing region in the India Cloud Computing market by country. With technology hubs like Delhi and NCR (National Capital Region), this region has seen increased adoption of cloud services across industries. Businesses in North India are leveraging cloud computing to enhance operational efficiency, facilitate remote work, and streamline digital processes. The concentration of businesses, startups, and IT infrastructure in this region has contributed to its role in shaping the cloud computing landscape and propelling the overall growth of the market in India.

Impact of COVID-19 on India Cloud Computing Market

The COVID-19 pandemic has significantly shaped the India cloud computing market, bringing about transformative shifts in how technology is used and adopted. With the pandemic necessitating remote work and digital transformation, cloud computing has emerged as a crucial enabler, allowing businesses to quickly adapt and operate remotely. The demand for cloud services surged as companies sought ways to ensure business continuity, facilitate online collaborations, and manage data and applications efficiently. This accelerated adoption of cloud technology was particularly beneficial for sectors such as e-commerce, healthcare, and online education, which saw increased reliance on cloud-based platforms. Moreover, the pandemic highlighted the importance of secure data storage, leading to an increased focus on cloud solutions that offer robust cybersecurity measures. As India navigates the post-pandemic landscape, the impact of COVID-19 has left a lasting imprint on the cloud computing market, propelling it as an essential pillar of the nation's digital future.

Competitive Landscape

The India cloud computing market is fragmented, with numerous players serving the market. The key players dominating the India cloud computing market include Tata Consultancy Services, Infosys, Wipro Limited, Zenith InfoTech Limited, CipherCloud, Cirrologix Private Limited, Ctrls Datacenters Limited, Clogeny Technologies Private Limited, App Point, iNube Software Solutions Pvt Ltd, and other prominent players. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisition to expand their customer reach and gain a competitive edge in the overall market.

Don’t miss the business opportunity of the India Cloud Computing Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the India Cloud Computing Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Cloud Computing Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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