Business executives in India are increasingly planning to invest in hybrid multi-cloud capabilities to drive business transformation and to unlock value.
According to an IBM Institute for Business Value (IBV) survey done among Indian and global executives across industries, 17 per cent of their IT spend is allocated to cloud at present and they plan to increase the share of spend on hybrid from 42 per cent to 49 per cent by 2023.
The majority of their cloud budgets are being allocated to hybrid cloud platforms even as their public cloud spend is set to reduce from 50 per cent share today to 43 per cent by 2023. "Most industries will exhibit growth in the number of clouds they will deploy, which can go up to 10 clouds particularly in insurance, telecommunications and retail as these industries will continue to expand multiple cloud deployments in the next three years," the report added,
‘The hybrid cloud platform advantage' study, which involved 6,000 executives globally, revealed the value derived from a full hybrid, multi-cloud platform technology and operating model at scale is 2.5 times the value derived from a single platform, single cloud vendor approach.
“The adoption of cloud has been a central feature in developing new, digitally-driven business models. Interestingly, the findings show that hybrid multi-cloud is the fundamental enabler of an organisation’s operating model, helping them to embark on a journey to become a cognitive enterprise of the future," said Viswanath Ramaswamy, vice president (Cloud and Cognitive Software and Services) at IBM India and South Asia.