The report titled “India’s cloud and data revolution” found that 78% organisations already have more than 30% data on cloud; and 58% are focusing on new workloads for modernisation initiatives. India is turning into a hub of cloud first companies led by a strong influx of global capability centres that thrive on a cloud focused talent pool.
Abhinav Johri, technology partner, EY India, co-author of the report, told ET, that a lot of digital initiatives involving government to citizen services as well as the influx of a large number of global capability centres in India have helped to increase awareness and access to these cloud based solutions. This in turn has driven up adoption among enterprises of all sizes in the country.
“From cloud investments meaning only setting up a data centre presence, Indian enterprises have come a long way,” said Johri. “Companies are now investing in cloud services and software solutions to drive productivity, efficiency and revenue growth beyond just infrastructure investments,” he said, adding that organisations that neglect the adoption of the cloud may face challenges harnessing the full advantages of advanced technologies such as Generative AI.
The report found that 80% of Indian organisations are adopting the cloud to enable data and analytics capabilities. India is evolving into a hub for cloud-first companies, with major cloud regions located in Mumbai, Chennai, Hyderabad, and Pune. India has become a potentially significant market for cloud service providers (CSPs). CSPs have rapidly established new cloud regions in India, expanding the array of cloud-native services available to Indian enterprises.
Johri said that while the CSPs offer a host of specialised SaaS solutions to enterprise clients, there are a lot of niche companies as well as IT service providers that are establishing their own capabilities to tap this market. “IT services companies are also moving up the value chain by offering more high margin low volume product and platform solutions compared to their traditional high volume low margin offerings,” said Johri.
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“As enterprises are adopting more digital transformation, it is also making them globally competitive and helping them enter new markets,” he added.The report found that while the banking financial services and insurance sector is already a frontrunner in digital adoption, sectors like manufacturing are also showing rapid growth.
The overall public cloud services market in India is projected to reach $13 billion by 2026, with verticals such as BFSI, manufacturing, government, software, and media being the key drivers, according to IDC.
However, many companies are paying two to three times more than their on-premise costs. Larger organisations achieve cost optimization of only 20% from the cloud, while medium and small-scale organisations fall short of meeting their cost-saving goals. To avoid such overruns, enterprises must understand and plan their workloads and consumption.
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