The Global Public Cloud spend, valued at $332 billion is projected to grow by 20 per cent YoY till 2022.
India’s cloud market is estimated at $4.4 billion and is projected to grow by 26 per cent to reach $5.6 billion by 2022, added a NASSCOM- Draup report titled ‘Cloud Skills: Powering India’s Digital DNA.’
The report further added that most Indian businesses are in early to midstages of Cloud maturity, incorporating easily deployable end-user SaaS applications, primarily in CRM, ERP and analytical functions. BFSI (incl. FinTech), Media & Entertainment, Manufacturing and Telecom are at the tipping point of Cloud adoption.
Investments in Cloud Management, Storage Networks, Security & Back-up services are expected to grow 31 per cent YoY till 2022, reflecting the demand for Cloud-enabled infrastructure up-gradation and hybrid cloud adoption by firms in India is set to grow 49 per cent over the next 3 years.
“Globally, India ranks 3rd with an installed supply of 608,000 (FY2021) cloud professionals (across Technology & other verticals), projected to grow at 24 per cent CAGR till FY2025.
At a baseline with a 24 per cent growth, India’s cloud talent pool is expected to grow to nearly 1.5 million by FY2025”, NASSCOM said.
It further added that the demand is estimated to be over 2.2 million and to make up for this difference, India would need to accelerate its cloud talent supply, 30 per cent and 35 per cent by FY2025, India then has the opportunity to become the world’s 2nd largest cloud talent hub.
As of FY2021 India has a vast pool of talent in adjacent technologies 1.7 to 1.8 million.
Tata Consultancy Services (TCS) and Accenture were strategic partners for the research effort.
The report estimates that building a vast talent pool of nearly 1 million cloud professionals by 2025 will require stakeholders in industry, academia, associations and government to work in collaboration to create the necessary learning culture.
SaaS companies in India employ over 40,000 professionals across job domains, more than any other tech startup segment, Nasscom said.
“Cloud adoption has witnessed an accelerated adoption during the pandemic as enterprises focused on building hybrid work models, collaboration infrastructure and business continuity. Cloud has moved from being a relative back-end to a front-end (business-facing) technology, enabling on-demand access to resources,” said Debjani Ghosh, Nasscom President.
She further added that for India to carve itself a unique identity as a global hub for cloud solutions, a concentrated public-private partnership and large-scale skilling are the key.
Nasscom has set up its FutureSkills PRIME initiative in partnership with the Ministry of Electronics and Information Technology (MeitY) to upskill talent in emerging technologies and cloud skills are a key area of focus on this platform.
The report explained that the demand for cloud solutions is growing exponentially, India saw about 380,000 job openings for cloud roles in 2020 and this demand is expected to increase with time.