PUBLISHER: Inkwood Research | PRODUCT CODE: 1240645
PUBLISHER: Inkwood Research | PRODUCT CODE: 1240645
The India Everything as a Service (XaaS) market is forecasted to register a CAGR of 23.96% during the projection period. While the base year considered for the studied market is 2022, the forecasting years are between 2023 to 2030. The country's market growth is facilitated by the advantages offered by cloud-based solutions, the significantly high rates of digital adoption, and the surging demand for streaming platforms.
India's current emphasis on the generation of considerable economic value as well as citizen empowerment is predominantly accredited to the robust foundation of the Digital India Program's expanded digital access and digital infrastructure. The nation also has one of the fastest rates of digital adoption globally, fuelled by a combination of government action, new digital applications, as well as business innovation and investment. Furthermore, these factors also play a vital role in enhancing a wide range of activities, in addition to different types of work domains.
On the other hand, streaming services like Disney Plus, Netflix, and Amazon Prime utilize cloud services to supplement video-on-demand streaming. As per industry sources, Indian customers are the most likely to avail of streaming platforms, with only 9% asserting they do not utilize any. As a result, these factors are set to augment the Everything as a Service (XaaS) market growth in India during the estimated period.
Key companies operating in the market include: Microsoft Corporation, HCL Technologies Ltd, IBM Corporation, etc.