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India's Data Centre & Cloud services Market is expected to grow at a CAGR of 11% by 2024. Will the Projections justify the growth rate? Ken Research
India's Data Center & Cloud services Market is expected to grow at a CAGR of 11% by 2024. Will the Projections justify the growth rate? Ken ResearchA massive market opportunity of $2000 Mn is present for the Data Center & Cloud service market in India owing to government initiatives, increasing investment & cloud adoption, says a report by Ken Research
1. Government Initiatives to Bridge Gaps in Data Center Industry via heavy investment for development of DC & Cloud Services in India
The GOI is currently focused on improving the data center & cloud services infrastructure. Agencies such as NITI Aayog have been participating actively & drafting appropriate policies for market development. NITI Aayog has drawn up a plan for creating an institutional framework for artificial intelligence (AI) in the country in the year 2019. It has circulated a cabinet note to provide INR 7,500 Cr in funding for creation of cloud computing platform called AIRAWAT and research institutes. The INR 7,500 Cr investment is for a period of 3 years to boost the research & adoption. Other such initiatives include 'National Digital Communication Policy'.
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2. "Investment scenario getting a boost:' India Data Center & Cloud services Market is getting massive investment boost & emergence of new startups"
Various companies operating in the India Data Center & Cloud Services market are getting massive investment influx owing to government regulations & the infrastructure development. For instance, Amazon has recently decided to invest $3 Bn to build its second data center region in India. Moreover, Alibaba Cloud is also building its first data center in India. All in all, the market is currently growing at a robust rate with startups & companies showing interest in entering the India market owing to vast opportunities.
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3. India is expected to be the hub for data Center market growth in the upcoming years owing to massive investment flow.
India is witnessing an increased investments from the co-location providers such as CtrlS, Netmagic, Siffy, STT GDC India, Nxtra and Others. The country is to witness a surge in the demand for the data center services owing to the rising data in the country with a higher adoption of digitalization by various industries in next few years. Moreover, the emergence of 5G technology in India is likely to grow the adoption of IoT-enabled products in the Indian market further contributing to the development of data center industry. All in all, a robust growth is expected in the upcoming years.
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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.
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