The introduction of emerging companies to tap into AI as Artificial Intelligence and machine learning allows cloud growth by empowering companies to tap into AI capabilities. The COVID-19 pandemic has featured as a proficient challenge for the international economy. Cloud computing can assist enterprises to survive the business continuity challenges presented owing to the lockdown, social distancing, work from home, and several other mandates affecting the market. However, managers, businesses, and employees continue to opt for remote functioning owing to the pandemic, distant working has emerged as the latest trend and is predicted to continue during the long term.
According to the SPER market research, ‘India Cloud Computing Market by Service Model (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)), by Deployment Model (Public, Private, and Hybrid), by Organization Size (Small and Medium-Sized Enterprises, and Large Enterprises), by Workload (Application Development and Testing, Storage, Backup, and Disaster Recovery, Database Management, Business Analytics, Integration and Orchestration, Enterprise Resource Management, and Collaboration and Content Management), By End-User Industry (BFSI, IT and Telecommunications, Government and Public Sector, Retail and Consumer Goods, Manufacturing, Energy and Utilities, Media and Entertainment, Healthcare and Life Sciences and Others), and By Region (North India, South India, West India and East India)- Forecast to 2027’ states that the India Cloud Computing Market is predicted to rise over a CAGR of 20.61% during the review period. The key aspects are the ability of cloud computing to augment enterprise, decrease working costs, and operational capabilities that foster the business performances of the organizations.
In addition, the increasing adoption of emerging technologies, like Artificial Intelligence, big data, and Machine Learning in different industries, will positively impact the India Cloud Computing market size in the future. Nonetheless, an augment in spending on cloud-based services, business enlargements by large vendors around geographies to attain untapped customer base, the proliferation of the digital content and upsurge in usage of internet, and requirement for disaster recovery and contingency plans are also predicted to propel the market growth.
The growing aim on customer satisfaction, rising requirement for controlling functional expenditure, and requirement for controlling capital expenditure are some of the most prevalent aspects that are progressively propelling the growth of the India Cloud Computing market. Data security, speedy data recovery, and fulfilling compliance demand are foremost aspects that foster the requirement for the cloud computing services around the world.
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Furthermore, the increasing investments in the development of robust telecommunications and IT infrastructure is predicted to further propel the growth of the India Cloud Computing market during the review duration.
Based on geography, the India cloud computing market classified into North India, South India, West India, and East India. North India registered for maximum revenue share in 2019, due to the high acceptance of cloud computing in IT & ITeS, telecommunication, BFSI, Government, etc. to accomplish greater business agility and satisfy their clients.
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