Report Overview

India Cloud Computing Market – Industry Trends & Forecast Report, 2029

India cloud computing market size was estimated at USD 6.47 billion in 2022. During the forecast period between 2023 and 2029, the India cloud computing market size is projected to grow at a CAGR of 18.37% reaching a value of USD 17.8 billion by 2029. The market growth is mainly driven by surging adoption of digital transformation strategies by businesses seeking enhanced efficiency and competitiveness. Businesses and individuals are realizing the benefits of using cloud services, which allow them to store and access data, run software, and collaborate online without needing to invest in and manage complex IT infrastructure. The cloud provides flexibility, cost savings, and the ability to scale resources up or down as needed. With the increasing demand for remote work solutions, digital transformation, and online services, more companies are embracing cloud technology to stay competitive and meet the changing needs of their customers. This shift is reshaping how we use technology and do business, contributing to the continued expansion of the cloud computing market in India. 

India Cloud Computing Market – Overview

Cloud computing refers to the delivery of computing services, such as storage, processing power, software, and more over the internet. It enables users and organizations to access and utilize these resources on-demand from remote data centers, eliminating the need for physical hardware and offering scalability, cost-efficiency, and flexibility. Cloud services are categorized into Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS), while deployment models include public, private, hybrid, and community clouds. This technology has revolutionized IT by providing convenient, pay-as-you-go access to a wide range of computing capabilities.

India Cloud Computing Market

Growth Drivers

Increasing Demand for Data Storage and Processing

The remarkable surge in the demand for data storage and processing capabilities stands as a pivotal driver propelling the rapid growth trajectory of the cloud computing market in India. This escalating demand is precipitated by a convergence of transformative technological forces, including the exponential proliferation of data-intensive applications, the advent of big data analytics, the pervasive integration of Artificial Intelligence (AI) and Machine Learning (ML) across sectors, the dynamic expansion of the Internet of Things (IoT) ecosystem, and the paradigm shift towards remote work and collaboration. Cloud computing emerges as the indispensable solution to address these multifaceted challenges, offering a scalable and agile infrastructure that accommodates the colossal volumes of data generated while facilitating seamless processing, analysis, and extraction of actionable insights. This trend reflects an overarching recognition by businesses and organizations in India of the imperative to harness the potential of data as a strategic asset, thereby driving a profound transformation in industries ranging from e-commerce and finance to healthcare and telecommunications. As a result, the cloud computing market in India experiences a momentous surge, contributing significantly to the nation's technological advancement and economic growth.

Restraints

High Risk of Cyberattacks

The cloud computing market in India faces a substantial constraint in the form of a heightened risk of cyberattacks, which dampens its growth potential. These attacks make it harder for the cloud market to grow and reach its full potential. According to cybersecurity company CloudSEK, India was the second-largest target for cyberattacks behind the United States in 2021 and 2022, with roughly 500 attacks last year, an increase of about a fourth. This trend is worrying and makes it tough for businesses and organizations to fully trust cloud services. To protect against these attacks, a lot of money and effort need to be spent on strong cybersecurity measures. This takes away resources that could have been used for improving and growing cloud services. Because of this, it's not easy for cloud computing to expand quickly and be adopted widely. This situation not only limits the benefits of cloud technology but also shows how important it is for India to work together and strengthen its defences against cyber threats

India Cloud Computing Market

Segmental Coverage

India Cloud Computing Market - By Enterprise Size

Based on the enterprise size, India cloud computing market is divided into large enterprises and small & medium-sized enterprises (SMEs) segments. The SMEs segment is expected to grow at a higher 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.

India Cloud Computing Market - By End User

Based on end user, India cloud computing market is divided into BFSI, telecom & IT, media & entertainment, energy & 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 Service

Based on service, India cloud computing market is divided into infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS) segments. The SaaS segment holds the largest market share by service because significant portion of the cloud technology being used in India is focused on providing software applications over the internet. SaaS allows users to access and use software without needing to install it on their own computers, making it convenient for businesses and individuals to use a wide range of applications for tasks like communication, collaboration, and data management. The popularity of SaaS highlights its importance in the Indian cloud computing market as a key driver of digital transformation and efficient software delivery.

India Cloud Computing Market – By Deployment

Based on the deployment, India cloud computing market is segmented into public, private, and hybrid. The private segment accounts for the largest market share in the market by deployment. Private cloud deployment involves creating a dedicated cloud environment for a single organization, which offers greater control and security over data and resources. The popularity of private cloud deployment underscores its prominence in the Indian market, highlighting the preference for personalized and secure cloud solutions tailored to specific organizational needs.

India Cloud Computing Market – By Region

Based on region, India cloud computing market is divided into North India, South India, East India and West India. The South India region is expected to dominate the market. South India, particularly cities like Bengaluru and Hyderabad, has historically been recognized as a hub for technology and innovation in India. These cities have a strong presence in the IT and technology sectors and have contributed significantly to the growth and adoption of cloud computing technologies. They host numerous tech companies, startups, research institutions, and skilled professionals, which has led to a vibrant ecosystem fostering technological advancements and digital transformation. This will help the market to grow in the coming years in this region.

Competitive Landscape

Major players operating in 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, and iNube Software Solutions Pvt Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Service

• Infrastructure as a Service (IaaS)

• Platform as a Service (PaaS)

• Software as a Service (SaaS)

By Deployment

• Public

• Private

• Hybrid

By Enterprise Size

• Large Enterprises

• Small & Medium-sized Enterprises (SMEs)

By End User

• BFSI

• Telecom & IT

• Media & Entertainment

• Energy & Utilities

• Manufacturing

• E-Commerce

• Government & Public Sector

• Healthcare

• Others

By Region

• North India

• South India

• East India

• West India

1. Research Framework
   1. Research Objective
   2. Technology Overview
   3. Market Segmentation
2. Executive Summary
3. India Cloud Computing Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increasing Demand for Data Storage and Processing
         2. Presence of a Large Number of Skilled Populations
      2. Restraints
         1. High Risk of Cyber Attacks
         2. Lack of In-house Expertise
      3. Opportunities
         1. Growing Popularity of Omni-Cloud Solutions
         2. Increasing Growth of Large and Small & Medium Enterprise Size
      4. Challenges
         1. Lack of Developed IT Infrastructure
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India Cloud Computing Market Overview
   1. Market Size & Forecast by Value & Volume, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Service
         1. Infrastructure as a Service (IaaS)
         2. Platform as a Service (PaaS)
         3. Software as a Service (SaaS)
      2. By Deployment
         1. Public
         2. Private
         3. Hybrid
      3. By Enterprise Size
         1. Large Enterprise Size
         2. Small & Medium-sized Enterprise Size
      4. By End User
         1. BFSI
         2. Telecom & IT
         3. Media & Entertainment
         4. Energy & Utilities
         5. Manufacturing
         6. E-Commerce
         7. Government & Public Sector
         8. Healthcare
         9. Others
      5. By Region
         1. North India
         2. South India
         3. East India
         4. West India
5. North India Cloud Computing Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Service
      2. By Deployment
      3. By Enterprise Size
      4. By End User
6. South India Cloud Computing Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Service
      2. By Deployment
      3. By Enterprise Size
      4. By End User
7. East India Cloud Computing Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Service
      2. By Deployment
      3. By Enterprise Size
      4. By End User
8. West India Cloud Computing Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Service
      2. By Deployment
      3. By Enterprise Size
      4. By End User
9.  Competitive Landscape
   1. List of Key Players and Their Offerings
   2. India Cloud Computing Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
10. Impact of Covid-19 on India Cloud Computing Market
11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Tata Consultancy Services
    2. Infosys
    3. Wipro Limited
    4. Zenith InfoTech Limited
    5. Cypher Cloud
    6. Cirrologix Private Limited
    7. Ctrls Datacenters Limited
    8. Clogeny Technologies Private Limited
    9. App Point
    10. iNube Software Solutions Pvt Ltd
    11. Other Prominent Players
12. Key Strategic Recommendations
13. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
       1. Secondary Research
       2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation

*Financial information of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1       India Cloud Computing Market Segmentation         

Figure 2       India Cloud Computing Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022                                               

Figure 4       India Cloud Computing Market Size, By Value (USD Million), 2019–2029

Figure 5       India Cloud Computing Market Share, By Service, By Value, 2019–2029

Figure 6       India Cloud Computing Market Share, By Deployment, By Value, 2019–2029

Figure 7       India Cloud Computing Market Share, By Enterprise Size, By Value, 2019–2029

Figure 8       India Cloud Computing Market Share, By End User, By Value, 2019–2029

Figure 9       India Cloud Computing Market Share, By Region, By Value, 2019–2029

Figure 10     North India Cloud Computing Market Size, By Value (USD Million), 2019–2029

Figure 11     North India Cloud Computing Market Share, By Service, By Value, 2019–2029

Figure 12     North India Cloud Computing Market Share, By Deployment, By Value, 2019–2029

Figure 13     North India Cloud Computing Market Share, By Enterprise Size, By Value, 2019–2029

Figure 14     North India Cloud Computing Market Share, By End User, By Value, 2019–2029

Figure 15     South India Cloud Computing Market Size, By Value (USD Million), 2019–2029

Figure 16     South India Cloud Computing Market Share, By Service, By Value, 2019–2029

Figure 17     South India Cloud Computing Market Share, By Deployment, By Value, 2019–2029

Figure 18     South India Cloud Computing Market Share, By Enterprise Size, By Value, 2019–2029

Figure 19     South India Cloud Computing Market Share, By End User, By Value, 2019–2029

Figure 20     East India Cloud Computing Market Size, By Value (USD Million), 2019–2029

Figure 21     East India Cloud Computing Market Share, By Service, By Value, 2019–2029

Figure 22     East India Cloud Computing Market Share, By Deployment, By Value, 2019–2029

Figure 23     East India Cloud Computing Market Share, By Enterprise Size, By Value, 2019–2029

Figure 24     East India Cloud Computing Market Share, By End User, By Value, 2019–2029

Figure 25     West India Cloud Computing Market Size, By Value (USD Million), 2019–2029

Figure 26     West India Cloud Computing Market Share, By Service, By Value, 2019–2029

Figure 27     West India Cloud Computing Market Share, By Deployment, By Value, 2019–2029         

Figure 28     West India Cloud Computing Market Share, By Enterprise Size, By Value, 2019–2029

Figure 29     West India Cloud Computing Market Share, By End User, By Value, 2019–2029                                               

List of Tables      

Table 1        India Cloud Computing Market Size, By Value (USD Million), 2019–2029

Table 2        India Cloud Computing Market Share, By Service, By Value, 2019–2029

Table 3        India Cloud Computing Market Share, By Deployment, By Value, 2019–2029

Table 4        India Cloud Computing Market Share, By Enterprise Size, By Value, 2019–2029

Table 5        India Cloud Computing Market Share, By End User, By Value, 2019–2029

Table 6        India Cloud Computing Market Share, By Region, By Value, 2019–2029

Table 7        North India Cloud Computing Market Size, By Value (USD Million), 2019–2029

Table 8        North India Cloud Computing Market Share, By Service, By Value, 2019–2029

Table 9        North India Cloud Computing Market Share, By Deployment, By Value, 2019–2029

Table 10      North India Cloud Computing Market Share, By Enterprise Size, By Value, 2019–2029

Table 11      North India Cloud Computing Market Share, By End User, By Value, 2019–2029

Table 12      South India Cloud Computing Market Size, By Value (USD Million), 2019–2029

Table 13      South India Cloud Computing Market Share, By Service, By Value, 2019–2029

Table 14      South India Cloud Computing Market Share, By Deployment, By Value, 2019–2029

Table 15      South India Cloud Computing Market Share, By Enterprise Size, By Value, 2019–2029

Table 16      South India Cloud Computing Market Share, By End User, By Value, 2019–2029

Table 17      East India Cloud Computing Market Size, By Value (USD Million), 2019–2029

Table 18      East India Cloud Computing Market Share, By Service, By Value, 2019–2029

Table 19      East India Cloud Computing Market Share, By Deployment, By Value, 2019–2029

Table 20      East India Cloud Computing Market Share, By Enterprise Size, By Value, 2019–2029

Table 21      East India Cloud Computing Market Share, By End User, By Value, 2019–2029

Table 22      West India Cloud Computing Market Size, By Value (USD Million), 2019–2029

Table 23      West India Cloud Computing Market Share, By Service, By Value, 2019–2029

Table 24      West India Cloud Computing Market Share, By Deployment, By Value, 2019–2029         

Table 25      West India Cloud Computing Market Share, By Enterprise Size, By Value, 2019–2029

Table 26      West India Cloud Computing Market Share, By End User, By Value, 2019–2029                                               

Table 27      Tata Consultancy Services Company Overview

Table 28      Tata Consultancy Services Financial Overview

Table 29      Infosys Company Overview

Table 30      Infosys Financial Overview

Table 31      Wipro Limited Company Overview

Table 32      Wipro Limited Financial Overview

Table 33      Zenith InfoTech Limited Company Overview

Table 34      Zenith InfoTech Limited Financial Overview

Table 35      Cypher Cloud Company Overview

Table 36      Cypher Cloud Financial Overview

Table 37      Cirrologix Private Limited Company Overview

Table 38      Cirrologix Private Limited Financial Overview

Table 39      Ctrls Datacenters Limited Company Overview

Table 40      Ctrls Datacenters Limited Financial Overview

Table 41      Clogeny Technologies Private Limited Company Overview

Table 42      Clogeny Technologies Private Limited Financial Overview

Table 43      App Point Company Overview

Table 44      App Point Financial Overview

Table 45      iNube Software Solutions Pvt Ltd Company Overview

Table 46      iNube Software Solutions Pvt Ltd Financial Overview