Indian companies to spend half of cloud budget on hybrid over 3 years: IBM

BENGALURU: Business executives in India are increasingly planning to invest in hybrid multi-cloud platform strategies and capabilities to drive business transformation and to unlock value, shows an IBM Institute for Business Value survey released on Thursday.

According to the respondents, 17 per cent of their IT spend is allocated to cloud at present and they plan to increase the share of spend on hybrid from 42 per cent to 49 per cent by 2023. A majority of their cloud budgets are being allocated to hybrid cloud platforms even as their public cloud spend is set to reduce from 50 per cent share today to 43 per cent by 2023.