The public cloud services market in India is on pace to grow 29.8% in 2014 to total $550 million, an increase of $127 million from an estimated 2013 revenue of $423 million.
According to Gartner, spending on software as a service (SaaS) will total $218 million in 2014, growing 30.3% from 2013 through 2014.
Gartner predicts that from 2013 through 2017, $4 billion will be spent on cloud services in India. SaaS is the largest overall cloud market segment, followed by infrastructure as a service (IaaS), totally $76 million in 2014 and business process as a service (BPaaS), totally $73 million over the same period.
Ed Anderson, research director at Gartner, said “The market for public cloud services in India continues to expand at rates outpacing much of the rest of the world. Increased demand for the business benefits and cost efficiencies will drive growth uniformly across virtually all cloud market segments through 2017.”
BPaaS is expected to grow from $61.9 million in 2013 to $154 million in 2017. SaaS is expected to grow from $167 million in 2013 to $507 million in 2017, and IaaS is forecast to grow from $58 million in 2013 to $217 million in 2017.
The Indian market is expected to be one of the fastest growing countries in Gartner’s cloud forecast. IT spending on public cloud services in India is expected to reach $1.3 billion in 2017.