Public cloud market reaches $6.2 bn in 2022, to reach $17.8 bn by 2027

PCS market reached $6.2 billion last year, as software-as-a-service (SaaS) continued to be the largest component of the overall public cloud services market

The public cloud services (PCS) market in India reached $6.2 billion last year, as software-as-a-service (SaaS) continued to be the largest component of the overall public cloud services market, followed by infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS), an IDC report showed on Thursday.

The overall India public cloud services market is expected to reach $17.8 billion by 2027, growing at a CAGR of 23.4 per cent.

"Migrating from legacy infrastructure to cloud has been the most preferred way to modernise IT infrastructure which is driving public cloud services growth," said Rajiv Ranjan, Associate Research Director, Cloud and Artificial Intelligence, IDC India.

In the next coming years, "we can also expect growing adoption of AI technologies, containerized applications, edge computing, serverless computing, and kubernetes technologies to further enhance efficiency and agility of infrastructure and applications on cloud," Ranjan added.

The top 2 cloud service providers captured more than 40 per cent of the India public cloud services market.

The India market witnessed robust growth, driven by the accelerating digital transformation among India enterprises, and cloud service providers continuing to witness increased demand from SMBs and startups.

"The accelerated digital adoption among Indian enterprises with cloud as a key enabler continued to be the prime driver of the public cloud services market in India, as cloud adoption helps enterprises drive efficiency in operations along with scalability benefits, thereby enabling them to gain a competitive advantage," said Harish Krishnakumar, senior market analyst, IDC India.

--IANS

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