According to an international research firm, International Data Corporation (IDC), India’s public cloud service market is expected to be US$ 13 billion by 2026, while growing at a Compounded Annual Growth Rate (CAGR) of 23.1% for 2021-26.
Computing and storage applications are made available on demand to organisations and individuals over the public internet through Public Cloud Service (PCS). Whereas a private cloud model’s resources are available only to a single organisation.
IDC Worldwide Semi-annual Public Cloud Services Tracker, H12022 report stated that the revenue of Indian PCS market, along with, infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS) solutions, and software-as-a-service (SaaS), summed up to US$ 2.8 billion for the first half of 2022. It was also noted that SaaS was the largest component of PCS market and was followed by IaaS and PaaS during the first half of 2022.
Mr. Praval Singh, Vice President, Marketing and Customer Experience, Zoho Corporation said, “businesses around the world are looking to improve their digital operations to improve customer experience and rise above the competition.
This has led to an increase in the demand for SaaS and PaaS services as they’re scalable, secure, and often have the flexibility to interoperate with legacy on-premises and on-cloud services.”
The report also stated that cloud service providers are expanding in India by setting up new data centres and cloud regions. Banking, Financial Services and Insurance (BFSI) and manufacturing are the leaders in public cloud adoption.
