How Cloud Computing is performing in 2023? Key Trends in India

Cloud computing is gaining momentum all over the world. It offers substantial solutions to businesses in terms of data storage solutions. According to industry reports, the market size will cross USD 1240 billion by 2027. It is estimated to grow at a CAGR of 17.9 percent during the forecast period.

This forecast is for the markets worldwide and India contributes a significant part of this sector. Cloud computing majors Microsoft Azure, Oracle, Amazon web services, and Cisco have built a strong channel partner ecosystem in India.

Under the Digital India campaign, the Indian government has introduced initiatives like Gi cloud and cloud-first policy to encourage the usage of cloud computing in government departments.

In the year 2023, we have seen an impressive boost in the sector of cloud computing. Artificial Intelligence, cloud computing, and cybersecurity are three poles of emerging technology. So far this year we have seen how big name in this sector have expanded their channel partner ecosystem in India.

Some key trends in the cloud computing domain in India 2023

Hybrid Cloud Solutions

Organizations in India have adopted hybrid cloud solutions. It is a mixed computing environment. Here computing, storage, and services are made up of on-premises infrastructure, private cloud, and public cloud. For instance, AWS or Microsoft Azure works on the Hybrid cloud model. This approach allows businesses to leverage the benefits of both public and private clouds while addressing data security and compliance requirements.

Artificial Intelligence and Machine Learning

AI and Machine learning are closely connected to cloud computing. Using AI and ML services can save companies money as they require significant computational power and storage for collecting data and training algorithms. This technology can help manage large amounts of data, improving productivity in tech companies. Predicted trends in this field include greater automation and self-learning capabilities, improved data security and privacy, and more personalized cloud experiences.

Cloud Native Development

As per the latest trends in cloud-native development approaches; for instance, containerization and microservices architecture are used extensively. These are relatively faster to deploy because there is no software or hardware are need to be deployed. Consequently, it aids organizations to build and deploy applications that are scalable, resilient, and easily managed in cloud environments.

Industry-specific Cloud Solutions

Cloud computing is being tailored to meet the specific needs of various industries in India, such as healthcare, finance, and e-commerce. Industry-specific cloud solutions offer specialized features and compliance requirements to address the unique challenges of each sector.

Edge Computing

With the proliferation of Internet of Things (IoT) devices, edge computing has gained traction in India. It involves processing data closer to the source, reducing latency, and improving real-time decision-making capabilities.

According to the reports so far, Amazon, Google, and Microsoft account for 66% market share in the cloud computing domain at the start of 2023. End-User cloud spending is expected to reach $597. 3 billion this year. Moreover, Cloud Market is going to be worth $376. 36 billion by the year 2029.

Likewise, these numbers indicate significant growth in this sector. As a result, there is a rise in the number of start-ups joining the bandwagon.