India’s cloud computing market to grow at 15.1% CAGR by 2023: GlobalData

NEW DELHI: India’s cloud computing market is expected to grow at a CAGR of 15.1% over 2018-23 driven by the need to meet domestic and global demands of enterprises and customers, said GlobalData on Thursday.

“The National Digital Communications Policy 2018 aimed to establish India as a global hub for cloud computing, content hosting and delivery, and data communication systems and services will further aid the country’s cloud computing market growth,” the agency said in a statement.

China, Japan and India will continue to drive the cloud computing space in the APAC region and account for two-thirds of the overall region’s cloud computing market in 2023, it said.

China is forecast to account for nearly one-third of the overall APAC (Asia pacific) cloud computing market with an estimated CAGR of 17.9% by 2023.