Publication: June 2024
Report Type: Tracker
Report Format: PDF DataSheet
Report ID: CCT1523 
  Pages: 110+
 

India Cloud Computing Market by Service Model, Deployment Model, Subscription Model, Enterprise Size, End User – Industry Analysis, Size and Forecast, 2019-2032

Report Format: PDF DataSheet |   Pages: 110+  

 June 2024   

India Cloud Computing Market Growth and Performance


  • DataCube Research foresees the India cloud computing market size making significant strides on the global stage, with projected revenue reaching US$ 32.88 billion by 2024.
  • Moreover, our analysis indicates a promising trajectory, an anticipated CAGR of 21.60% to reach US$ 133.43 billion by 2031.

India Cloud Computing Market Outlook

The India cloud computing market is undergoing a remarkable transformation, driven by rapid digitalization, a mobile-first economy, and significant investments from global tech giants. With an estimated GDP of $27 trillion by 2047, India is poised to become an economic superpower, and cloud computing is playing a pivotal role in this journey. The India cloud computing market growth is fueled by over a billion mobile phones, 710 million internet connections, and exponential growth in digital commerce, entertainment, and social media.

India Cloud Computing Market Challenges and Opportunities

Despite the rapid growth, the India cloud computing market faces challenges such as inefficient fiber optic networks, data privacy concerns, and legacy IT infrastructure. However, the shift from CAPEX to OPEX models and growing awareness of cloud benefits are driving adoption. With national policies supporting cloud adoption and incentives encouraging top-notch cloud services, the India cloud computing market is set to thrive. As businesses and individuals alike embrace cloud technology, India is well-positioned to lead the global digital economy, driving innovation, economic growth, and technological advancement for years to come.

India Cloud Computing Market Trends

One of the key India cloud computing market trends is the shift from cloud computing as a facilitator to a catalyst for creativity, adaptability, and corporate expansion. By 2028, cloud technology is expected to account for 8.5% of India’s GDP, potentially adding $X90 billion to the economy and creating 14 million jobs. This growth is driven by the acceleration of economic reforms, increased use of digital technologies, and initiatives like Digital India, which aim to create a digitally empowered society and knowledge-based economy.

Small and medium enterprises (SMEs) are early adopters of cloud services, particularly Software-as-a-Service (SaaS), due to the affordability and scalability of pay-as-you-go models. However, large enterprises remain cautious, with concerns around data security, sovereignty, and the complexity of migrating critical business processes to the cloud. Despite these challenges, the India cloud computing market outlook remains positive, with cloud penetration currently at 65%, indicating significant growth potential.

The India cloud computing industry is revolutionizing business models, enabling rapid scaling, innovation, and cost efficiency. Key sectors like BFSI, IT & telecom, and e-commerce are leading the charge, while education, healthcare, and government sectors are catching up. Initiatives like the IndiaAI Mission, which aims to provide 10,000 GPUs to support startups and researchers, are further accelerating cloud adoption.

India Cloud Computing Market Competitive Landscape

The India cloud computing market competitive landscape is dominated by global leaders like AWS, Microsoft Azure, and Google Cloud, alongside local players driving innovation. Recent developments include:

  • AWS’s $12.7billion investment in India, including $8.3 billion in Maharashtra by 2030.
  • Google Cloud’s expansion in Mumbai, renewing office leases to strengthen its presence.
  • Microsoft Azure’s expansion in Central India, enhancing its reach and capacity.

These investments highlight the growing demand for cloud infrastructure, AI integration, and data center growth, with 407 MW of IT capacity absorbed in 2024 and an additional 191 MW added.

India Cloud Computing Market Development

The India cloud computing market development is marked by significant milestones:

  • Air India’s cloud-only IT infrastructure migration, setting a benchmark for the aviation industry.
  • Tech Mahindra’s collaboration with AWS to offer cloud-based solutions for sports organizations and broadcasters.
  • Wipro’s partnership with RSA Security to optimize cloud migration and enhance security measures.
  • Lenovo’s hybrid cloud platforms, enabling AI-driven innovations and digital transformation.
  • AWS GovCloud (India) Region, catering to government agencies and regulated data needs.

These developments underscore India’s potential to become a global hub for cloud computing and data centers, driven by a combination of government initiatives, private sector investments, and a rapidly growing digital economy.

India Cloud Computing Market Scope