BURNABY, Canada, March 24, 2015 /PRNewswire/ --
Growing adoption of cloud computing technologies in SMEs and government agencies to drive the demand for cloud computing services in India through 2020
According to the recently released TechSci Research report "India Cloud Computing Market Forecast & Opportunities, 2020", the cloud services market in India is forecast to grow at over a CAGR of 22% during 2015-2020. Rising availability of cloud services at economical price models and the ease of implementation are the major growth drivers for cloud services in India. In addition, increased government spending on new e-governance projects based on cloud technology is likely to drive the market for cloud computing services in India over the coming years. Software-as-a-Service (SaaS) emerged as the leading market segment holding majority market share in 2014 in India.
Application hosting and E-mail remained the leading services to utilize cloud technology extensively in India. Growing at over a CAGR of 50%, private cloud dominated cloud computing ecosystem in India during 2010-2014. Improved data security features and exclusive control remain the key factors contributing to growth of private cloud in India. However, private cloud adoption is largely restricted to large enterprises in present times. This is due to the fact that higher initial investment discourages small and medium enterprises to opt for private cloud deployment.
Nevertheless, public cloud adoption is plagued by data security and reliability issues due to which hybrid cloud has been gaining traction in India. The report also throws light on key roadblocks that restrict the growth of overall cloud services in India such as growing concerns over data security, reliability and surveillance. In addition, dearth of quality IT infrastructure further hampers widespread adoption of cloud services in India. IBM and Hewlett-Packard are among the leading cloud service providers in India, holding significant majority stake in the market.
"Wide range of cloud solutions bundled with innovative pricing models covering private, public as well as hybrid cloud are contributing to the adoption of cloud services in India. Growing spending on cloud services within government and IT/ITeS segment is also expected to drive the market over the coming years", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India Cloud Computing Market Forecast & Opportunities, 2020" has evaluated the future growth potential of cloud services market in India and provides statistics and information on market structure and consumer behavior trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities in the Indian cloud computing services industry.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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