siliconindia|10|January 2013The cloud computing industry has grown manifolds glob-ally in the past few years. Keeping in tunewith these global trends the Indian cloudcomputing market is expected to reach $16 Bil-lion by 2020, says a NASSCOM study.The global cloud computing market was pro-jected to grow at 33 percent compounded annualgrowth rate and reach $680 Billion by 2020 whilethe domestic market opportunity might touch $16billion in the same period.About two-third of the growth would be"new-business" and the rest would come from ex-isting service lines, said the study titled, 'Decon-structing the "CLOUD": The New GrowthFrontier for Indian IT-BPO Sector', brought outby NASSCOM in association with Deloitte."There are ample opportunities for cloud in every industry,and with the increased preference of cloud adoption in the com-ing years, the industry will have to invest in competency build-ing internally to take advantage of cloud computing technolo-gies", says Som Mittal, NASSCOMPresident.The study suggests that Cloudcomputing is expected to have a signif-icant impact on current IT-BPO serv-ices industry, in terms of types ofservices offered, delivery mechanismsand business models.“While security is one of the majorhindrances toward cloud adoption,policies need to be created and de-signed to help enterprises establish andexecute a comprehensive security strat-egy that addresses threats and potentialliabilities resulting from cloud comput-ing,” says Mittal."India will definitely have a leadership position in the cloudmarket in times to come", adds Mittal.Indian Cloud Computing Industry expected toreach $16 Billion by 202087 Indian tech startups closed shops in 2012The startup eco system in India is on an upwardgrowth trajectory. Approximately 379 technologystartups were launched in India in 2012, out ofwhich 87 shut down their operations in the same year. Microsoft Accelerator India conductedthe study in which Mukund Mohan; theCEO in Residence, Microsoft Acceleratorsaid that it tracked over 6214 entitieswhich included 3948 technology productcompanies and few service companieswhich were building great products andother side projects that fetched thefounders’ great traction and revenue. According to the report 2010 and 2011saw the emergence of highest number oftech startups with 452 and 519 respec-tively but 2012 saw just 379 startups. InIndia, Bangalore has registered the high-est number of tech ventures with 591 startups leading theway followed by Delhi NCR with 237 and Chennai with203 startups. Hyderabad has seen the steepest declinesover the past five years with just 83 ventures.33 percentages of startups werefrom e commerce sectors followed by24 percent of Business-to-Business,12 percent consumer internet and 10percent mobile app startups. Bangalore topped the list of thehighest number of tech ventures yet italso has the most number of closures.It records more than 70 percent clo-sures followed by other cities withmore than 55 percent and Delhi with35 percent closures and number ofcompanies started.
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