Press FAQ

Publication date: 30 Jun 2024

IDC: Indian Public Cloud Services Market to Grow at a CAGR of 23.8% for 2023-28

Contact

For more information, contact:

NEW DELHI, 01 July 2024 – The revenue from Indian public cloud services (PCS) market, including infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS) , and software-as-a-service (SaaS) solutions, totalled $8.3 Billion in 2023, according to the International Data Corporation (IDC) , 2 H 202 3 ( J uly - December ).The overall Indian public cloud services market is expected to reach $24.2 billion by 2028, growing at a CAGR of 23.8% for 2023-28.

"While enterprises continue to modernize IT on IaaS offerings, core business applications have a shifting trend to SaaS models on public cloud. These offerings are further enhanced by GenAI technologies to improve user experience and productivity,” says Rajiv Ranjan, Associate Research Director, Cloud and Artificial Intelligence, IDC India.

“While SaaS will drive the volume of public cloud, strong growth also comes from PaaS offerings, like fully managed databases and serverless technologies, to deploy pure cloud native applications and modern data management infrastructure. In addition, GenAI adoption to streamline operations, improve customer experience, and increase innovation will also drive public cloud services growth," Ranjan ends.

The top two vendors continued to hold more than 40% of the market in 2023. SaaS continued to be the largest category in the overall public cloud services market, followed by IaaS and PaaS.

While segments like CRM, ERM, Collaborative Applications, and IaaS continued to drive growth, demand for AI platforms, Data Management Software and System Infrastructure Software also continued to rise.

“Public Cloud adoption in India continued to rise as enterprises preferred public cloud services for their digital transformation initiatives, application modernization, and productivity enhancements. Moreover, the increased focus on cost optimization in recent times has accelerated the move towards as-a-service consumption models, thus driving public cloud adoption. With enterprises making significant investments in next-generation technologies like GenAI, the demand for robust computing infrastructure and data management capabilities will continue to drive public cloud adoption in the upcoming years.” says Harish Krishnakumar, Senior Market Analyst, IDC India.

For more information about IDC's tracker products and research services, please contact Shivani Anand, Senior Marketing Specialist at sanand@idc.com. You can also follow IDC India’s Twitter  and LinkedIn  pages for regular updates.

-Ends-

About IDC Trackers

IDC Tracker  products provide accurate and timely market size, company share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semi-annual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly excel deliverables and on-line query tools. The IDC Tracker Charts app allows users to view data charts from the most recent IDC Tracker products on their iPhone and iPad.

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC   and LinkedIn. Subscribe to the IDC Blog  for industry news and insights.



Coverage


Regions Covered

India


Topics Covered