Karan Chhabra, Director, Servetel Communications, 0
There's no denying that cloud technology has become an integral part of running a business. While these solutions were already gaining traction, the COVID-19 pandemic simply accelerated its adoption, fashioning it into a need for business continuity. Cloud solutions or software hosted on the Internet helped companies seamlessly adapt to remote working, kept operations afloat and allowed employees to collaborate effectively. It helps bridge the physical digital divide in the organization.
In fact, new-age technologies like Software as a Service (SaaS), Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) or even artificial intelligence and blockchain technology are capable of dealing with modern challenges like big data, cyber security, personalized customer service, and quality control, to name a few.
Whether a business opts for cloud computing or communications (or even both), these solutions are dynamic, flexible and scalable. Not only do they help streamline internal processes like data handling, security and communication, but they also help companies offer better customer service, enhance external communications and grow steadily. Be it accounting, inventory management, filing income tax returns, managing inbound and outbound calls efficiently, the cloud offers a myriad of high-end services that can completely transform a business.
The Market for Cloud Solutions is Growing
Cloud solutions have expanded from mere backend, data storage tools to bespoke solutions that can run an entire business. A report by Markets and Markets revealed that the global cloud computing market size is expected to grow to $832.1 billion by 2025, with a CAGR of 17.5 percent. A study by IDC states that the virtual weight of all the data in the world in the year 2020, was 44 zettabytes(trillion gigabytes). It also points-out that approximately 50 percent of all the corporate data was stored on the cloud last year. Another report further adds that 90 percent of all the surveyed IT organizations have already started treading on the cloud path.
Clearly, cloud solutions have made their mark across all business sectors. With cloud solutions, the advantages are never ending, the costs are low and businesses get the necessary competitive edge needed in this overly saturated market.
2022: The Year of the Cloud Considering the exponential growth at present, it isn't far-fetched to say that cloud solutions will keep-up the pace in the future as well. What keeps the cloud relevant is its flexibility and the ease with which it can take-in any new technology. So, while we see hybrid, multicloud environments on the rise, we can confidently say that technologies like 5G will further drive the scale of adoption.
India will Emerge as a Leading Cloud Market by 2022
A study by NASSCOM highlights that the cloud market is presently valued at $2.2 billion, with a promising future in
India. The market is projected to grow threefold and is estimated to be valued at $7.1 billion by the end of 2022. Artificial Intelligence, Machine Learning, analytics and other immersive technologies have been rendering a helping hand in the seamless adoption of SaaS, IaaS and PaaS solutions. The study further points-out that be it large enterprises, small & medium businesses or even the government, every entity has been welcoming the cloud with open arms.
While over 60 percent of the SMBs have adopted the cloud, 50 percent are still at a nascent stage with only 15 percent operating as advanced users. The COVID-19 pandemic however has further expedited the cloud adoption among small and medium businesses.
India will be a SaaS Driven CountryOur country is quickly emerging as a hub for SaaS, and presently, has 1,000+ SaaS companies. Out of these, over 150 companies have annual recurring revenues of more than $1 million. The Indian SaaS market is also expected to boost significantly in the times to come. As per NASSCOM's reports, it will grow at 36 percent and will touch up to $3.4 billion by 2022.
Cloud Vision for India 2022
Major industries like healthcare, BFSI and retail are gradually inching towards the Cloud. Adding to it, various leading IT and telecom firms, including Google, have already announced that they are expanding their cloud services and setting up data centres across the country.
What is noteworthy is that the sector has also been receiving support from the government. The country's National Digital Communications Policy 2018, as well as Cloud Vision for India 2022, envisions establishing India as a global hub for the cloud computing market. This vision also includes content hosting and delivery and data communication systems and services.
Furthermore, NITI Aayog along with AWS has announced the launch of the Frontier Technologies Cloud Innovation Centre. This is a public-private collaboration to address societal challenges via digital transformations. Such initiatives only point to one thing: we are looking at a cloud revolution in the country.
Cloud Solutions will Focus on Sustainability & Carbon Intelligence
Almost all businesses and governments have become conscious of climate change and are doing all they can to mitigate its impact and look for greener technologies. Cloud service providers offer solutions that are sustainable and environment friendly. After all, with cloud solutions, there's no need for on-premise infrastructure, given that everything is hosted on the Internet. Moreover, providers are also increasing their focus on carbon-neutral goals and taking-up initiatives to make the technology greener.
Cloud Solutions can Smoothen All StormsCloud services have successfully defeated the pandemic-induced instability in the business world. Not only has it facilitated remote working and collaboration, but it has also optimized processes and even helped increase profits. The industry has been able to make a mark for itself, foray into all sectors and set the path for growth in the coming years. It will only continue to grow, especially in India, where the market is ripe for a cloud revolution.
While over 60 percent of the SMBs have adopted the cloud, 50 percent are still at a nascent stage with only 15 percent operating as advanced users. The COVID-19 pandemic however has further expedited the cloud adoption among small and medium businesses.
Artificial intelligence, machine learning, analytics and other immersive technologies have been rendering a helping hand in the seamless adoption of saas, iaas and paas solutions
India will be a SaaS Driven CountryOur country is quickly emerging as a hub for SaaS, and presently, has 1,000+ SaaS companies. Out of these, over 150 companies have annual recurring revenues of more than $1 million. The Indian SaaS market is also expected to boost significantly in the times to come. As per NASSCOM's reports, it will grow at 36 percent and will touch up to $3.4 billion by 2022.
Cloud Vision for India 2022
Major industries like healthcare, BFSI and retail are gradually inching towards the Cloud. Adding to it, various leading IT and telecom firms, including Google, have already announced that they are expanding their cloud services and setting up data centres across the country.
What is noteworthy is that the sector has also been receiving support from the government. The country's National Digital Communications Policy 2018, as well as Cloud Vision for India 2022, envisions establishing India as a global hub for the cloud computing market. This vision also includes content hosting and delivery and data communication systems and services.
Furthermore, NITI Aayog along with AWS has announced the launch of the Frontier Technologies Cloud Innovation Centre. This is a public-private collaboration to address societal challenges via digital transformations. Such initiatives only point to one thing: we are looking at a cloud revolution in the country.
Cloud Solutions will Focus on Sustainability & Carbon Intelligence
Almost all businesses and governments have become conscious of climate change and are doing all they can to mitigate its impact and look for greener technologies. Cloud service providers offer solutions that are sustainable and environment friendly. After all, with cloud solutions, there's no need for on-premise infrastructure, given that everything is hosted on the Internet. Moreover, providers are also increasing their focus on carbon-neutral goals and taking-up initiatives to make the technology greener.
Cloud Solutions can Smoothen All StormsCloud services have successfully defeated the pandemic-induced instability in the business world. Not only has it facilitated remote working and collaboration, but it has also optimized processes and even helped increase profits. The industry has been able to make a mark for itself, foray into all sectors and set the path for growth in the coming years. It will only continue to grow, especially in India, where the market is ripe for a cloud revolution.