PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1460744
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1460744
Market Overview
The total value of the Indian digital transformation market was USD 31.2 billion in 2023, and it will rise at a growth rate of above 25.1% shortly, reaching USD 149.1 billion by 2030. The industry is propelled by the growing acceptance of the Internet of Things and the rising manufacturing sector in the nation.
Being a major part of the Indian ICT industry, the country is expected to embrace digital transformation positively, thanks to key sectors such as BFSI, healthcare, e-commerce, and, lastly, government, which try to enhance productivity and service quality.
Along with the connected cloud, the market witnessed the emergence of one more key trend. It comes as a connected cloud that offers the highest degree of sophistication since data can be available from anywhere at any time. Secondly, organizations leverage cloud technology in order to operate many apps and analyze huge amounts of data in the cloud.
In addition, SMEs see cloud deployment as an opportunity to enter the market quickly with small investments; it is no surprise that faster growth of cloud adoption is associated with cloud solutions that can be deployed with no need for hardware investments.
As a result of the following reasons, Indian corporations have now embraced a cloud. Lastly, small and large businesses alike are utilizing automation, making the work of cloud administrators simpler due to the reduction of costs and time and the elimination of manual procedures.
In 2023, the solution category had the dominating share, of approximately 75%. This is mainly because it is extensively utilized for digital renovation in India.
By multiple modes of delivery which include private cloud, public cloud besides hybrid cloud infrastructure, cloud computing has caused further evolution of a business model of large as well as small enterprises.
The advantages involve paying for the usage, low entry costs, and good data management systems. One of the major players in the cloud solution market is the central government of India which is aiming to spread its e-governance program all over the country and borrowing cloud computing.
The large enterprise category leads with a 45% revenue share, prioritizing flexibility and data security.
Medium-scale enterprises are the fastest-growing, benefiting from government incentives and cluster programs.
They benefit from the convenience of resources, aid, and raw materials that aid the development of production and services.
Large establishments apply complex technologies whereas small and medium-sized businesses decide on the basis of efficiency and employment.
Both of them significantly contribute to the process of digital transformation of the country and its economy. Use our artificial intelligence to write for you for FREE with the click of a button! Create Word Cloud.
In 2023, South India dominated with a 50% revenue share, projected to uphold the highest CAGR.
Key IT hubs such as Bengaluru, Chennai, and Kochi propel the region's technical development.
The region contributes more than 30% of India's tax revenue with 20% of the populace.
Government steps like the Smart Cities Mission appeal to substantial investments.
Amravati in Andhra Pradesh is noteworthy for its proposed infrastructure developments.