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Future of Cloud and Its Economic Impact: Opportunity for India | Cloud Computing

July 27, 2022

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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

Download the Report: https://community.nasscom.in/communities/cloud-computing/future-cloud-and-its-economic-impact-opportunity-india
 

 

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