Topics In Demand
Notification
New

No notification found.

Future of Cloud and Its Economic Impact: Opportunity for India

July 20, 2022 4821 4 Cloud Computing

Future of Cloud and Its Economic Impact: Opportunity for India

Since the pandemic, cloud computing has emerged as a mission-critical technology for enterprises, government, and the consumers. It is not just the underpinning technology for digital transformation, but it is also enabling innovation for and collaboration among ecosystem players. As India vies to become a $1 trillion digital economy by 2026, cloud computing has the potential to transform the Indian economy technologically and make it more resilient and inclusive. The “Future of Cloud and Its Economic Impact: Opportunity for India”report aims to understand the economic contribution that cloud can make possible for India and explores the opportunity cost should India fail to accelerate its cloud adoption. It also presents recommendations for scaling cloud adoption in India: Address mindset challenges & perceptions, incentivize SMBs to adoption cloud, improve cloud adoption in central and state governments, rapidly scale talent through re-skilling and up-skilling programs and amend cloud related policies to ease cloud deployments.

4821

4

Download

Listen to this article



Key Highlights

Cloud computing-India market:

  • India’s public cloud market stood at $5.6 billion in 2021, 44% CAGR over 2016-2021
  • Expanding ecosystem of digital enterprises: 53% Of enterprises have increased their cloud adoption over the last one year; 84% Of large organizations have adopted SaaS
  • Ability to quickly launch new products / services and Better customer engagement / experience – Top 2 drivers of cloud adoption
  • Limited understanding of cloud features / benefits and Integration of legacy systems/applications and migration – Top 2 barriers

Impact of Cloud on India:

  • Potential to account for ~8% relative share of India’s GDP in 2026 – 4X growth over the next five years
  • Create 14 million jobs in 2026 – grow 3X over the next five years
  • Opportunity cost of slow adoption: ~US$118 billion GDP contribution at the risk of being lost

Recommendations:

  • End user industries: Commit to a time bound, cloud-oriented roadmap, and set aside required resources
  • Service Providers: Evangelize cloud adoption by alleviating perception barriers, investing in proof of concept and providing financial & technical support for select segments like SMBs
  • Government: Define frameworks around data classification,privacy and security in line with global standards
  • Academia & Associations: Position India as global cloud talent hub by strengthening formal education programs and reskilling technology workforce

Community by nasscom Insights is focused on building the largest online community catering to the Indian technology sector. The purpose of the community is to bring the latest trends and discussions onto a single platform. Our passion for tech drives the free-flowing exchange of ideas and visions from industry leaders and game-changers across India.



LATEST REPORTS

© Copyright nasscom. All Rights Reserved.