Indian public cloud market to grow at an exuberant CAGR of 28 percent reaching US$8.6bn in 2024

instabits
instabits
Locked Instabit

Summary

India's public cloud market is entering a phase of rapid expansion as startups, government digitalization programs, and traditional industries alike shift workloads away from standalone, in-house infrastructure. Those forces are also determining where the next wave of cloud spending is likely to concentrate.

Software-as-a-Service stands out as the largest segment of India's public cloud spending, alongside the information technology, manufacturing, and financial services verticals shaping overall demand. The country's expansive startup ecosystem, government initiatives such as the GI Cloud program, and a maturing pool of cloud-skilled talent are together laying the foundation for sustained adoption.

The next growth opportunities lie in e-commerce companies pursuing multi-cloud strategies, manufacturers migrating enterprise resource planning systems to the cloud, logistics providers digitizing operations to keep pace with e-commerce growth, and the country's rapidly expanding online gaming industry. Financial services adoption, meanwhile, has lagged despite the sector's scale, raising the question of what regulatory clarity or product design could unlock faster uptake.

  • Software-as-a-Service, IT/ITES, and manufacturing cloud spending
  • Government digitalization programs including Meghraj and smart city initiatives
  • E-commerce, logistics, and online gaming as emerging growth segments
Which industries will drive the next phase of India's public cloud growth, and what is holding back sectors like financial services?

To access these insights, connect with us today

Schedule a call with Twimbit analyst to learn how we can help you.

Book a call

Already a Twimbit client? Log in