India’s cloud market expected to grow 3-fold to $7.1 bn by 2022: Nasscom

Growing adoption of Big Data, analytics, artificial intelligence and Internet of Things is expected to push cloud market in India to grow 3-fold to $7.1 billion by 2022, a report by Nasscom said Tuesday.

The report titled ‘Cloud Next Wave of Growth in India’, prepared with Google Cloud and Deloitte Touche Tohmatsu India LLP, said cloud spending in 2018 was estimated to be about six per cent of the total IT spending.

Indian infrastructure as a service (IaaS) spending was estimated to be about $1 billion in 2018, and is forecast to grow at 25 per cent per annum to reach $2.32.4 billion in 2022.

Factors that can drive the IaaS uptake in India are improved infrastructure, economic benefits, increased innovation, vibrant startup and connected ecosystem, the report said.