Public cloud services revenue in India 2014-2028

The public cloud services market across India was forecasted to be at 24.2 billion U.S. dollars in 2028. A public cloud uses cloud computing to make resources available for users. The services include virtual machines, applications or storage. The services could be free or subscribed. Corporate clouds offer more security due to limited users. The advantage of public cloud is the availability of service virtually through connected devices via the internet. Data on cloud services can be recovered easily in case of a loss of device or data and is usually regarded safe from cyber-attacks and hazards. 

Cloud service market

Across Asia Pacific, China was dominating the cloud services spending. However, it was estimated that the compound annual growth rate in India would reach 23.8 percent between 2023 and 2028. It could make India one of the biggest cloud service markets in Asia Pacific, along with China and Japan. Among all the segments, Platform-as-a-service (PaaS) was estimated to have the highest growth rate between 2022 and 2026 in the Asia Pacific region.

Internet in India

With over 692 million users, India was the second largest online market, second only to China in 2023. With the mobile phone internet penetration estimated to reach over 96 percent of the population by 2040, the access to cloud computing and services is likely to become easier and more comfortable. The approach ‘cloud first’ to ‘cloud only’ will push organizations to increase investments in the segment, to protect their digital businesses’, as digitalization of platforms also increases the exposure to cyber-attacks and risks.