India Cloud Storage Market Size Zooming at Robust CAGR of 38.25% During 2023–2029

Published | 08 June 2023

India cloud storage market is rapidly growing due to an increasing demand for data storage and backup solutions, adoption of cloud-based services by businesses, and digital transformation across industries.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects India cloud storage market size to grow at a robust CAGR of 38.25% during the forecast period between 2023 and 2029. The India cloud storage industry has shown tremendous growth and is expected to keep expanding over the forecast period. The market is expanding as a result of rising demand for data storage and backup solutions, rising government measures to promote digitalization, and growing company usage of cloud computing solutions. Further boosting the demand for cloud storage services in India is the growth of smartphones, rising internet penetration, and big data analytics. To fulfill various needs, the market is also seeing a shift towards hybrid and multi-cloud storage solutions. Overall, as businesses become more aware of the advantages of scalable, affordable, and secure data storage solutions on the cloud, the market for cloud storage in India is primed for further growth.

India Cloud Storage Market – Overview

Online backup and storage of digital data on distant servers accessed through the Internet are referred to as cloud storage. It provides people and businesses with a safe and flexible way to save and access their files, documents, photos, videos, and other data whenever they need it. Cloud storage uses a network of dispersed computers to provide data availability and redundancy rather than depending on local storage devices like hard drives or physical servers. Users can quickly upload, download, and share files, and cloud storage providers take care of infrastructure and maintenance duties, such as data replication, encryption, and data center administration, guaranteeing the integrity and accessibility of the data.

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Impact of COVID-19 on India Cloud Storage Market

The COVID-19 pandemic significantly impacted India cloud storage market, driving a surge in demand for remote storage solutions. With the sudden shift to remote work and increased reliance on digital infrastructure, businesses across various sectors sought scalable and secure cloud storage options. The need for efficient data management and accessibility further fueled the adoption of cloud storage services in India. Companies offering cloud storage solutions experienced a substantial increase in their user base and revenue during the pandemic. This shift toward cloud storage not only facilitated remote work but also highlighted the importance of robust and flexible data storage solutions in times of crisis.

India Cloud Storage Market – By Deployment Mode

On the basis of deployment mode, India cloud storage market is divided into Private, Public, and Hybrid segments. Private cloud storage refers to a dedicated storage infrastructure that is exclusively used by a single organization, providing enhanced security and control over data. Public cloud storage, on the other hand, involves utilizing storage services offered by third-party providers on a shared infrastructure, offering scalability and cost-efficiency. The hybrid cloud storage segment combines elements of both private and public cloud storage, allowing organizations to leverage the benefits of both models while maintaining flexibility and customization options. These three segments collectively form the foundation of the evolving India cloud storage market.

Competitive Landscape

India cloud storage market is fiercely competitive. Major companies in the market include Amazon Internet Services Private Limited (AISPL), Microsoft Corporation India Pvt. Ltd., IBM India Private Limited, Google India Pvt Ltd, Hewlett Packard Enterprise India Pvt Ltd, Dropbox Inc., VMware Software India Private Limited, Cisco Systems (India) Private Limited, Oracle India Private Limited, and CtrlS Datacenters Ltd. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in India cloud storage market.

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

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