Indian businesses are expected to increase adoption of cloud and co-location.
Deloitte in their annual TMT report has predicted the growth of cloud and co- location market at a CAGR of 30 per cent in order to reach $10.3- 11.3 billion by 2023.
The report , which captures annual trends and extrapolates the same going forward, also predicts the year 2021 to be an overcast with an increased adaptation of cloud services across government and public sectors, corporates, Small and Medium businesses (SMBs). IoT and edge computing will be the key cloud mandates emerging along with data and application modernization (specifically serverless), exponential computation and analytics. New business models are also expected to emerge in India to facilitate the deployment of edge through cloud platforms using AI/ML capabilities, according to Deloitte.
Adoption of serverless computing will allow organizations to shift from the restrictive, time-consuming, and draining traditional work environments and engage in event-based computing, which in turn will make the work a lot more easy and hassle free.
IaaS and PaaS – Infrastructure as a Service (“IaaS”), Software as a Service (“SaaS”) and co-location are expected to constitute the largest opportunities.
A significant increase in demand is expected from the cloud-based support services such as collaboration tools, identity management, end-point encryption, and cyber security. Enterprises are expected to continue to migrate their applications and workloads from on ground data centers to cloud solutions in order to use IT effectively, optimize on IT asset costs and enable virtual ways of working.
The Government of India’s digital initiatives, cloud adoption push, regulatory shifts, and several proposals around incentives for cloud and data center are another major reason for the increase in demand of the cloud based support services.
The rise of edge computing could be attributed to an increase in the number of ‘connected’ devices connected to the internet every second.
Due to the COVID-19 pandemic everything has taken a shift to the virtual world, from classes to work and meetings, companies are adopting to the ‘new normal’ of virtual and digital business models. Cloud, associated exponential technologies and business applications are expected to be the key enablers of bringing this transformation.
Serverless computing with its high deliverability along with the immense opportunities it could create in the near future, makes it a must to adopt. India is expected to continue to lead the race in serverless adoption.