Cloud Infrastructure Market in India 2022-2027

Cloud Infrastructure Market in India 2022-2027

Cloud infrastructure covers the essential components for cloud computing. Cloud computing involves the delivery of computing services such as servers, storage, software, databases, networking, and analytics to customers over the internet. IT, e-commerce, communication and media, telecom, manufacturing, transport, logistics, and retail are the sectors that have adopted cloud infrastructure to enhance day-to-day operations. Based on service type, the cloud infrastructure market is segmented into Infrastructure-as-a-Service (IaaS), Software-as-a-Service (SaaS), Platform-as-a Service (PaaS), Business Process-as-a-Service (BPaaS), and cloud management and security services.

Market insights:

In 2021, the global cloud infrastructure market was valued at INR 16,230.09 Bn. It is expected to reach INR 124,613.38 Bn by 2027, expanding at a compound annual growth rate (CAGR) of 24.68% during the 2022 – 2027 period. Artificial intelligence (AI) and machine learning (ML) has resulted in the growth of the cloud infrastructure market by empowering companies to tap into AI and ML capabilities. The Omni-cloud system is increasingly preferred to the multi-cloud approach owing to its multiple advantages and leading cloud computing market trends. Cloud computing can support enterprises to survive the business continuity challenges posed by work from home and other government-imposed regulations affecting the market.

COVID-19 impact analysis:

The cloud infrastructure market in India is one of the few sectors that has emerged strong amid the pandemic. The COVID-19 pandemic resulted in a shift toward remote, virtual operations, because of which the demand for secure, reliable, scalable, and cost-effective technologies services went up. This resulted in higher cloud adoption and cloud infrastructure spending. The demand for e-learning, telemedicine, and remote working picked up on account of the growing application of cloud computing during the lockdown. Some of the other sectors that have become highly reliant on cloud computing services are – banking, financial services, and insurance (BFSI), and manufacturing.