As per Gartner, the public cloud services revenue in India will reach $731 million by the end of 2015, a rise of $176 million over 2014 revenue of $555 million.
In 2015, public cloud services revenue is driven by high growth rates in key market segments, such as cloud infrastructure as a service (IaaS), cloud management and security services, and software as a service (SaaS).
Spending on IaaS will total $100 million in 2015, a 25% rise over last year. Spending on cloud management and security will grow 36.6% to $82 million, and SaaS will grow 33.4% to $302 million this year.
Gartner predicts high rates of spending on cloud services in India to continue through 2019 when the market is expected to reach $1.9 billion.
Commenting on the subject, Sid Nag, Research Director at Gartner, said, “The forecast for cloud services vary based on local factors, including supply and demand within the local markets, country-specific economic conditions, currency exchange rates, and other global market factors”.
He added that the explosive growth of IaaS and SaaS in the India market is an indication that enterprises in India are moving away from building their own on premises infrastructure, as well as migrating from the traditional software licensing model, to a SaaS model served up by cloud providers.
According to Gartner’s latest cloud adoption survey, 61% of respondents in India indicated that they are currently using cloud services, and additional 31% plan to use cloud services by the end of 2015.