According to Gartner, the public cloud services market in India is expected to grow from current $421 million to $1.7 billion in 2018. Further, at end of 2014, the public cloud services market will reach $556.8 million witnessing a growth of 32.2 per cent.
The research firm estimates that spending on software as a service (SaaS) will total $220 million in 2014, registering a growth of 33.2 per cent over 2013. At present, SaaS is the largest overall cloud market segment, followed by infrastructure as a service (IaaS), totaling $78 million and business process as a service (BPaaS), totaling $75 million.
Going forward, BPaaS is expected to grow from $62.3 million in 2013 to $204 million in 2018. SaaS is expected to grow from $166 million in 2013 to $636 million in 2018, and IaaS is forecast to grow from $58 million in 2013 to $317 million in 2018.
Gartner concludes that growth of cloud services in India reflects the demand for new sourcing models and the research firm expects high growth rates across all cloud services market segments in India.
