02 Nov 2020
More than 60% of the Indian Organizations Plan to Leverage Cloud as a Platform for Digital Innovation as a Result of COVID-19, according to IDC
New Delhi, November 2nd, 2020 – As building digital IT infrastructure supporting resilient operations and pervasive experiences becomes a key priority, organizations in India are re-strategizing their IT spending plans. Accelerating investment in an agile cloud infrastructure is seen as a part of the solution to the challenges arising from the spread of the pandemic COVID-19. More than 60% of the Indian organizations plan to leverage cloud platforms for digital innovation based on IDC COVID-19 impact survey.
"Cloud continues to be the underpinning platform for all digital transformation initiatives and has therefore seen an acceleration in demand. Strategic investments in technology will become imperative to minimize the adverse impact and make businesses more resilient. The role of providers will become crucial in helping organizations flatten the curve and leverage cloud in their next normal," says Rishu Sharma, Principal Analyst for cloud & artificial intelligence at IDC India.
India public cloud services (PCS) market is projected to touch $7.1 billion by 2024 growing at a CAGR of 20.3% between 2019-2024. Cloud serves as a foundation to modernize IT and businesses by providing flexibility, scalability, and agility. Although most organizations in India have adopted cloud at some stage, the current pandemic situation has now enabled organizations to spend more on public cloud infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS) solutions, and software-as-a-service (SaaS).
From a segment perspective, SaaS forms the largest component of the overall public cloud services market in India, followed by IaaS and PaaS. With the changing strategy, over 56% of the Indian organizations plan to increase their spend on SaaS services, as a result of COVID-19. In 2019, the top two providers in the SaaS segment accounted for nearly 52% of the total SaaS market. In the IaaS segment, the top two providers accounted for over 78% in 2019.
"COVID-19 significantly impacted organizations looking at cloud for business continuity and gaining resiliency. Organizations are planning to leverage cloud for digital innovation and accessing innovative ecosystems, in addition to gaining flexibility and meeting up additional demands," says Swapnil Shende, Senior Market Analyst for artificial intelligence at IDC India.
The above analysis has been published in a new IDC report, ‘Market Analysis Perspective: India Cloud, 2020 ’ (Doc #AP45509319, Sep 2020), that examines the state of the India cloud market focusing on aspects including the overall size of the public cloud market in India, the forecasted growth, organizations' plans, leading players across segments, and how organizations will be leveraging cloud transitioning to the next normal. The report is part of IDC’s India Artificial Intelligence and Cloud Ecosystem program.
For more information on the report or IDC’s research services, please contact Shivani Anand at email@example.com.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights: http://bit.ly/IDCBlog_Subscribe.
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