IT decision-makers from leading Indian companies will be focusing on cybersecurity and cloud adoption as their key priority areas in 2022. Coming in the backdrop of a pandemic situation, businesses have had to take a fresh look at the way they do business.
With social distancing norms, remote working, frequent lockdowns, behavior patterns of end-consumers are undergoing a change of sorts.
Digital transactions and work from home are the new normal. CIOs and IT decision-makers that W.Media spoke to have outlined certain key areas out of which cybersecurity and cloud computing along with other technological advances like AI, ML, and RPA will continue gaining focus in the year 2022.
Priorities in 2022
According to a Mordor Intelligence report, the Global Hybrid Cloud Market is expected to grow by registering a CAGR of 21.06 over the forecast period (2021-2026). The growth of cloud and industrialised services and the decline of traditional data center outsourcing (DCO) indicate a massive shift toward hybrid infrastructure services.
In comparison, the traditional DCO market is shrinking, spending on colocation and hosting along with the increase in infrastructure utility services. This is expected to drive the shift toward cloud IaaS and hosting. Owing to its benefits, the hybrid cloud deployment is occupying a continuously increasing share in the cloud market.
“In this year the major focus of our organisation will be on hybrid cloud adoption and security, RPA & AI/ML with maximum automation wherever possible,” said Tejas Shah, Chief Technology Officer, Kalpataru Group- SSL LTD.
Shree Shubham Logistics Ltd. is one of the leading warehousing companies in India for agriculture and non-agriculture commodities.
Artificial intelligence (AI) is starting to play an increasing role in our daily lives. Whether it is getting shopping recommendations on e-commerce websites, Netflix suggestions, or even emails, AI is always at play behind the scenes.
According to the latest report of International Data Corporation (IDC), India Artificial Intelligence Market, 2021 predicts India’s AI market to reach USD 7.8 billion by 2025 at a compound annual growth rate (CAGR) of 20.2 per cent, from a market value of USD 3.1 billion in 2020. Moreover, the AI services market is set to lead the overall AI market growth in India by 2025 at a CAGR of 35.8 per cent, an India ai report added.
IDC predicts that the India AI software market will grow from USD 2,767.5 million in 2020 to USS 6,358.8 million in 2025, at a CAGR of 18.1 per cent.
Artificial Intelligence (AI) is the holy grail of every organisation, as it tries to better understand its customer. This is especially the case post-COVID-19, as user behaviour has undergone a change and is continuing to evolve.
As the usage of AI grows, cloud infrastructure, which is the heart of any computing requirement, is gaining traction too.
Cloud consolidation, manufacturing – evaluation of IT/OT, and cybersecurity will be some of the focus areas this year, pointed out Shobhana Lele, CIO, The Bombay Dyeing and Manufacturing Company Limited.
Bombay Dyeing & Manufacturing Company Limited is the flagship company of the Wadia Group, engaged primarily in the business of Textiles. Bombay Dyeing is one of India’s largest producers of textiles.
Shah further explained that more focus will be on enhancing the existing digital landscape of the organisation and the budget has been increased for new technology adoption and business enhancement wherever possible.
Lele on the other hand pointed out that her organisation will look for a more cautious approach to ensure long-term sustainability.
“In terms of the budget the organisation will start with caution focusing on cost optimisation, then depending on the situation, new budgets will be assigned to projects particularly centered around customer experience,” added Lele.
Scope of Cloud computing and Cybersecurity in India
India’s public cloud services (PCS) market, including infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS) solutions, and software-as-a-service (SaaS), revenue totaled $2.2 billion for the first half of 2021 (January-June), according to the International Data Corporation (IDC) Worldwide Semi-annual Public Cloud Services Tracker, 1H 2021 release. The overall Indian public cloud services market is expected to reach $10.8 billion by 2025, growing at a CAGR of 24.1 per cent from 2020-25.
The Indian cybersecurity market stood at USD2200.23 million in FY2021 and is forecast to grow at a CAGR of 8.05 per cent by FY2027. Owing to the rising data breach, hacking attempts, phishing, snooping, foreign espionage and a rise in demand to reduce information technology (IT) costs by using the resources of the cloud computing services, there is a boost in India’s cyber security market, a Techsci research report added.