Amongst the public cloud offerings, infrastructure as a service (IaaS) is the fastest-growing segment
Rising usage of big data, IoT, AI, AR VR, along with enterprises’ focus on cost reduction and operation scalability is expected to boost cloud adoption in India, according to GlobalData.
This way, the overall spending on cloud computing in India is set to reach $16.5 billion in 2024.
This growth will be driven by the rising preference of enterprises to migrate their application and workloads from on-premises data centers to cloud solutions to use IT effectively.
Increased government spending on new e-governance projects based on cloud technology is expected to boost cloud adoption in the nearest future. For example, India’s thrust towards ‘Digital India’ will result in increased spending towards cloud services to advance digital business procedures.
In addition, India plans to launch a national AI program by the end of 2020.The National Institution for Transforming India Aayog further proposes the establishment of a cloud computing platform known as AI Research, Analytics, and Knowledge Assimilation platform (AIRAWAT). This will create opportunities for the deployment of cloud services in the forthcoming years.
We’ve reported that some Chinese and Thai central banks are working with the Hong Kong Monetary Authority (HKMA) to introduce the digital currency in the Southeast Asia region.