India Cloud Storage Market is expected to Register a High CAGR in the Forecast Period
Rapid digitalization drives the demand for cloud
adoption and hence the India Cloud Storage Market in the forecast period of 2018-2028.
According to
TechSci Research report, “India Cloud Storage Market – By Region, Competition
Forecast & Opportunities, 2018–2028,” the India Cloud Storage
market is anticipated to register a robust growth during the forecast period,
2018-2028. The
cloud storage market refers to the market for storing and accessing data and
files over the internet, instead of on physical hard drives or local servers.
This market has seen significant growth in recent years as more businesses and
individuals adopt cloud storage solutions for their data storage needs. Major
players in cloud storage market include Amazon Web Services (AWS), Microsoft
Azure, Google Cloud, IBM Cloud, and others. The India cloud storage market is
expected to continue its growth trajectory as more organizations shift towards
cloud computing and the increasing amount of data generated drives demand for
storage solutions.
The introduction of cloud
computing has fundamentally altered the data protection, storage, and backup
industry. Cloud computing provides models that assist businesses in managing,
accessing, and storing data in a remote cloud server via the internet. In
addition, a high level of data security and protection, cost efficiency,
on-demand access from remote locations, and automated backup procedures are
anticipated to accelerate the adoption of cloud computing across end-use
industries across the country. The growing demand for software-defined storage
and hybrid cloud solutions has given rise to hyper-converged storage solutions.
Furthermore, growing trends towards edge computing will accelerate cloud
computing adoption, increasing data storage and backup across industries.
- In August 2020, Reliance Jio
announced a partnership with Microsoft Corporation India Pvt. Ltd., to launch
Jio's cloud services using Microsoft Azure's infrastructure. This collaboration
aimed to offer scalable cloud solutions to small and medium enterprises (SMEs)
in India.
- Google India Pvt. Ltd.
announced its plans to launch a new cloud region in Delhi-NCR in 2021. This
expansion aimed to provide Indian customers with improved performance, lower latency,
and enhanced access to Google Cloud Platform services, including cloud storage.
- Amazon Internet Services
Private Limited (AISPL) announced plans to invest USD 2.8 billion in
establishing multiple data centers in Hyderabad, India. This investment was
part of AWS's efforts to expand its cloud infrastructure in India and meet the
growing demand for cloud services.
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Figures spread through 70 Pages and an in-depth TOC on the "India Cloud Storage Market”
The India Cloud Storage market is segmented into type, deployment mode,
by organization size, end user, region and competitive landscape.
The IT and telecom industries have been significantly impacted by the
growing popularity of cloud storage, which has caused a spike in cloud
spending. While maintaining unified collaboration and communication with a
sizable content delivery network, it has decreased administrative and
operational costs for the IT and telecom sectors. Furthermore, cloud storage
service providers enable telecom sectors to concentrate on core services rather
than server updates and maintenance. Cloud, 5G, AI, and digital transformation
will be among the top priorities for the IT and telecommunications industries.
Major players operating in India
Cloud Storage market include:
- Amazon Internet Services Private Limited (AISPL)
- Microsoft Corporation India Pvt. Ltd.
- IBM India Private Limited
- Google India Pvt Ltd
- Hewlett Packard Enterprise India Pvt Ltd
- Dropbox Inc.
- VMware Software India Private Limited
- Cisco Systems (India) Private Limited
- Oracle India Private Limited
- CTRLS Datacenters Ltd
Major companies are developing advanced technologies and launching new solutions
to stay competitive in the market. Other competitive strategies include mergers
& acquisitions.
The
cloud storage market in India is expected to see growth due to increased
consolidation through mergers and acquisitions as companies seek to expand
their market presence. The government of India has also implemented various
initiatives to promote the use of cloud storage, which is expected to drive the
market growth in the coming years.
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“The widespread use of connected devices like smartphones
and smart speakers is pushing information technology (IT) companies to invest
in cloud storage to effectively store the growing amount of data that these
devices are producing. Furthermore, the popularity of Over the Top (OTT)
content streaming services is rapidly increasing. With an increasing number of
customers opting for premium services, OTT service providers are expected to
invest in cloud storage to increase the volume of content available on their
platforms while lowering operating costs associated with data infrastructure.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“India
Cloud Storage Market By Type (Solution and Service), By Deployment Mode
(Private, Public and Hybrid), By Organization Size (Large Enterprises and
SMEs), By End User (BFSI, IT & Telecom, Retail, Healthcare, and Others), By
Region, Competition Forecast and Opportunities, 2018-2028,” has evaluated the future
growth potential of India Cloud Storage Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India Cloud Storage market.
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