Public Cloud - India

India

Revenue in the Public Cloud market is projected to reach €9.32bn in 2024.
Infrastructure as a Service dominates the market with a projected market volume of €3.69bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 24.47%, resulting in a market volume of €27.84bn by 2029.
The average spend per employee in the Public Cloud market is projected to reach €17.10 in 2024.
In global comparison, most revenue will be generated in the United States (€360.20bn in 2024).

Key regions: United States, Germany, China, Japan, United Kingdom

Definition:

A public cloud is defined as the digital infrastructure and computing resources that are managed by a service provider. Examples of public cloud computing resources include virtual machines, storage, and services, all of which are available for purchase with flexible (e.g., pay as you go and subscription) business models. Such payment options make it possible for customers to access, scale, and utilize resources as needed. Public cloud solutions make it possible for users to save on IT costs, increase their efficiency, and take advantage of advanced technologies without having to invest in long-term IT solutions. Public cloud service providers own and maintain the physical infrastructure, hardware, and software. Users only need to pay for the computing resources that they require. The Public Cloud market refers to the companies that provide these cloud computing resources and services to individuals, businesses, and organizations.

Structure:

The Public Cloud market is structured into five markets based on the type of service models provided by the companies.

The Infrastructure as a Service (IaaS) market covers the resources and services related to the data center infrastructure.
The Platform as a Service (PaaS) market covers the resources and services related to the virtual environments used for software development.
The Software as a Service market (SaaS) market covers the resources and services related to software applications that can be accessed via a web browser.
The Business Process as a Service (BPaaS) market covers the resources and services related to the various business processes such as finance and accounting, human resources, customer service, and supply chain management, all delivered through the cloud.
The Desktop as a Service (DaaS) market covers the resources and services related to virtual desktop environments, which are accessible from any device with an internet connection.

Additional Information:

The public cloud market comprises revenue, revenue change, average spend per employee, and key player market shares as key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players of the public cloud market include companies such as Amazon (Amazon web services), Microsoft (Azure), Google (Cloud), and IBM (Cloud).

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Analyst Opinion

The Public Cloud market in India has been experiencing significant growth in recent years, driven by several key factors.

Customer preferences: Indian businesses are increasingly adopting public cloud services due to their numerous advantages. Public cloud offers scalability and flexibility, allowing businesses to quickly and easily expand their IT infrastructure as needed. This is particularly important in a country like India, where businesses often face unpredictable demand and rapid growth. Additionally, public cloud services provide cost savings, as they eliminate the need for businesses to invest in expensive hardware and software infrastructure.

Trends in the market: One of the major trends in the Indian public cloud market is the growing adoption of Software as a Service (SaaS) solutions. SaaS allows businesses to access software applications on a subscription basis, eliminating the need for costly upfront investments in software licenses. This trend is driven by the increasing availability of SaaS solutions in India, as well as the growing awareness among businesses about the benefits of this model. Another trend in the Indian public cloud market is the rising demand for cloud-based storage and backup solutions. With the increasing amount of data generated by businesses, there is a growing need for reliable and secure storage options. Cloud-based storage solutions offer scalability, cost-effectiveness, and easy accessibility, making them an attractive choice for businesses in India.

Local special circumstances: India has a large and rapidly growing startup ecosystem, which is driving the demand for public cloud services. Startups often have limited resources and need to quickly scale their operations. Public cloud services provide them with the necessary infrastructure and tools to do so, without the need for significant upfront investments. Additionally, public cloud services enable startups to focus on their core business activities, rather than IT management.

Underlying macroeconomic factors: India is experiencing rapid digital transformation, with increasing internet penetration and smartphone adoption. This is driving the demand for public cloud services, as businesses need scalable and flexible IT infrastructure to support their digital initiatives. Furthermore, the Indian government has been actively promoting the use of cloud computing in various sectors, such as e-governance and digital payments. These initiatives are aimed at improving efficiency, reducing costs, and enhancing the overall digital infrastructure in the country. In conclusion, the Public Cloud market in India is witnessing significant growth due to customer preferences for scalability, flexibility, and cost savings. The adoption of SaaS solutions and cloud-based storage is on the rise, driven by the increasing availability of these services and the growing need for data storage. The local startup ecosystem and the government's initiatives are also contributing to the growth of the market. With the ongoing digital transformation and favorable macroeconomic factors, the Indian public cloud market is expected to continue its upward trajectory in the coming years.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the money spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and level of telecommunications infrastructure. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.