The public cloud services market in the country is projected to grow 30.4 per cent to reach USD 1.26 billion this year as organisations are pursuing a digital business strategy, Gartner said today.
According to the research firm, public cloud services market, which stood at USD 968.1 million in 2015, will reach USD 3.52 billion by 2020.
“The public cloud services market in India is projected to grow 30.4 per cent in 2016 to USD 1.26 billion,” it said.
The highest growth will come from cloud system infrastructure services (infrastructure as a service [IaaS]), which is projected to grow 32.5 per cent in 2016, with platform as a service (PaaS) projected to grow 31.7 per cent.
“We are witnessing a shift from legacy IT services to cloud-based services. Cloud services are growing due to organisations pursuing a digital business strategy,” Sid Nag, research director at Gartner said.
The IaaS segment will remain the fastest-growing segment in 2016, forecast to reach USD 448.9 million.
“IaaS continues to be the strongest-growing segment as enterprises move away from data centre build-outs and move their infrastructure needs to the public cloud,” said Nag.
“Certain market leaders have built a significant lead in this segment, so providers should focus on creating differentiation for success,” Nag added.
PaaS is forecast to grow 31.7 per cent in 2016, to USD 82.1 million.
“This is an artifact of enterprises looking to develop and build applications in the public cloud that are cloud native, as well as non-cloud native applications that are refactored taking advantage of PaaS,” Gartner said.