Press release
India Cloud Computing Market Size of US$ 25.8 Billion by 2032 with a CAGR of 17.20%
Cloud computing refers to the on-demand delivery of IT resources over the Internet with pay-as-you-go pricing. Instead of buying, owning, and maintaining physical data centers and servers, individuals and organizations can access technology services, such as computing power, storage, and databases, on an as-needed basis from a cloud provider like Amazon Web Services (AWS).
In the context of cloud computing, a cloud platform can be assembled from a distributed set of machines in different locations, connected to a single network or hub service. This distributed nature can be categorized into public-resource computing and volunteer cloud, each presenting unique challenges and opportunities.
The Cloud Computing Market industry is projected to grow from USD 7.2 Billion in 2023 to USD 25.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 17.20% during the forecast period (2024 - 2032).
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Key Companies in the Cloud Computing Market include
Tata Consultancy Services
Infosys
Wipro Limited
Zenith InfoTech Limited
CipherCloud
Cirrologix Private Limited
Ctrls Datacenters Limited
Clogeny Technologies Private Limited
App Point
iNube Software Solutions Pvt Ltd
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Government Initiatives and Impact:
The Indian government has been actively promoting digital India and IT infrastructure, investing in the National Optical Fibre Network (NOFN) and multiple e-governance portals. Initiatives such as Digital India and Meghraj have been driving the adoption of cloud infrastructure, positioning India as a global hub for cloud computing, content delivery, and data communication services.
Market Drivers and Trends:
The need for improved infrastructure, economic benefits of using cloud computing, and the growing adoption of emerging technologies such as IoT and AI have been significant drivers of growth in the Indian cloud computing market. The ability of cloud computing to increase enterprise scalability, reduce operating costs, and boost business performance, coupled with the growing adoption of emerging technologies like big data, artificial intelligence, and machine learning, are expected to positively impact the market size in the future.
The cloud computing market in India is poised for substantial growth, driven by government initiatives, economic benefits, and the increasing adoption of cloud infrastructure and services. This presents a promising landscape for the expansion and development of cloud computing technologies in India.
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