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Cloud market in India estimated to grow to $550mn in 2014

Cloud market in India is reportedly set for a growth rate of 29.8 percent this year, according to a new survey.

Research firm Gartner has estimated that the public cloud services market in India would reach to a total 550 million dollars from estimated 2013 revenue of 423 million dollars.

According to Enterprise Innovation, Gartner predicted that from 2013 through 2017, 4 billion dollars would be spent on cloud services in India, while spending on software -as a service (SaaS) alone, which is the largest overall cloud market segment, will total 218 million dollars, growing 30.3 percent this year.

Research director at the firm, Ed Anderson said that the market for public cloud services in India continues to expand at rates outpacing much of the rest of the world.

He further said that increased demand for the business benefits and cost efficiencies would drive growth uniformly across virtually all cloud market segments through 2017.

The report said that SaaS is expected to grow to 507 million dollars in 2017, while infrastructure as a service (IaaS) is estimated to grow to 217 million dollars and business process as a service (BPaaS) to 154 million dollars.