Report Description

India Cloud Storage Market is expected to grow at a double digit CAGR during 2024-2028, owing to increasing acceptance of software solutions for businesses coupled with the increasing awareness of the Indian government pertaining to cloud storage solutions. Cloud storage is a service that allows users to store data, such as files and documents, on remote servers that can be accessed over the internet. The data is maintained, managed, and backed up by the cloud storage provider, eliminating the need for users to have local storage on their devices. Some of the popular cloud storage services are Amazon Web Services (AWS), Google Drive, Microsoft OneDrive, and Dropbox. A device with an internet connection can be used to store and retrieve computer files using cloud storage. Cloud storage has become more and more popular among people who need more storage space and among companies looking for a reliable off-site data backup solution. Cloud security has emerged as a key concern to safeguard data integrity, thwart hacking attempts, and avoid file or identity theft because of cloud storage's growing acceptance and use.

A device with an internet connection can be used to store and retrieve computer files using cloud storage.

Increasing government regulations

Growing security concerns among consumers and businesses regarding cloud computing is a common issue due to the increasing number of cloud-related data breaches and security incidents. In cloud computing, sensitive data is stored and processed on remote servers, which can raise concerns about data privacy and security. To address these concerns, cloud service providers have implemented various security measures, such as encryption, multi-factor authentication, and regular security audits. However, consumers and businesses also have a role to play in ensuring the security of their data in the cloud. This includes regularly updating their passwords, using strong authentication methods, and conducting risk assessments to identify potential vulnerabilities. In conclusion, while cloud storage has many benefits, it is important to be aware of the potential security risks and take steps to minimize them.

The Indian government has taken several initiatives to support the growth of cloud storage market in the country. Some of these include:

In India, the regulation of cloud storage falls under the purview of the Ministry of Electronics and Information Technology (MeitY) and the Personal Data Protection Bill, 2019. MeitY has issued guidelines for the secure use of cloud services by government agencies, which include provisions for data privacy, security, and sovereignty. The Personal Data Protection Bill aims to regulate the collection, storage, and processing of personal data by companies operating in India. Additionally, various industry-specific regulations such as the RBI guidelines for cloud storage by banks and the Health Information Management System of India (HIMS) for health data also apply to cloud storage in India.


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Market Segmentation

India Cloud Storage market is segmented into type, deployment mode, organization size, end user, region and competitive landscape. Based on the market is further segmented into solution and service. The deployment mode category is further segmented into Private, Public and Hybrid. Based on organization size the market is further segmented into Large Enterprises and SMEs. Based on end user the market can be segmented into BFSI, IT & Telecom, Retail, Healthcare, and Others.

Market Players

Major market players in the India Cloud Storage market are 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, among others.

India cloud storage market focuses on the use of cloud computing services offered by companies that have data centers located in India. These services allow individuals and businesses to store, manage, and access their data and applications over the internet, rather than on their own physical servers. Indian cloud storage companies offer various features such as data backup and recovery, storage scalability, and security. The use of cloud storage provides benefits such as lower costs, increased reliability and security, and easy accessibility from anywhere with an internet connection.

 

Key developments

  • In 2022, CTRLS Datacenters Ltd planned to set up third and its largest hyperscale data center in Hyderabad. The proposed rated-4 (tier-4) data center will be equipped with 1,600 racks and powered by 18MW of electricity.


Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units