Cloud Services Business Is Expected To Reach $556 Million In 2014
BANGALORE: With India becoming the fastest growing hub of Information Technology, the Cloud Computing services in India is generating revenue par excellence. The growth of cloud services has been the result of growth of internet and mobile users, which is not ready to slow down in any near future. The web has led to the high demand of the cloud services in India.
With globalization and expanding IT sectors, people are vying for a service that can keep their valuable information safe and secure. This led to transfer of information to the clouds rather than the vulnerable physical devices and thus boosting the demand of cloud services in Indian IT industry. With the added fact that the numbers of U.S. companies are acquiring smaller IT firms in India, investments in cloud services are growing and are likely to rise further with the help of these acquisitions.
This current year the growth is projected at 32.2 percent, which will expand India’s cloud sector from $421 million in 2013 to $556.8 million in 2014. The increase is of massive $135.8 million. By 2018, this market could hit a mark of $1.7 billion in total, as reported by Gartner, a technology research firm. According to the report, the related components like Infrastructure-as-a-service, Business Process-as-a-service and Software-as-a-service will expand too. Especially in India the Infrastructure-as-a-service will be experiencing a growth. According to figures provided by Gartner, the Infrastructure-as-a-service has grown to $78 million this year as compared to last year.
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