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"The India public cloud services (PCS) market, including infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS) solutions, and software-as-a-service (SaaS), touched $1.6 billion for the first half of 2020, according to the International Data Corporation (IDC) Worldwide Semiannual Public Cloud Services Tracker. The overall India public cloud services market is likely to touch $7.4 billion by 2024, growing at a CAGR of 22.2% for 2020-24.\"The current uncertainty has accelerated the demand for public cloud services. Getting to the “next normal” entails businesses to leverage the cloud as part of their business plans. Irrespective of where the businesses are positioned across the IDC’s “response to recovery” framework, organizations state cloud is imperative in attaining their core business objectives. Enterprises across verticals like financial services, IT/ITeS, media, education among others are witnessing a surge in demand,” said Rishu Sharma, principal analyst, cloud and artificial intelligence, IDC India. Software as a Service (SaaS) formed the largest component (63%) of the overall public cloud services market in H1 2020 followed by IaaS and PaaS.The public cloud services market has nearly tripled since 2016, according to the report. While most companies in India are at some stage of cloud adoption, the pandemic has enabled organizations to rely on public cloud IaaS and PaaS to expedite the development process and deployment of business applications.\"Enterprises which adopted cloud and other digital technologies fared better than enterprises with traditional IT systems during the pandemic, thereby stressing the urgent need for digital transformation. During the pandemic, there has been an increase in demand for cloud-based collaboration tools, content management solutions, and online streaming platforms,” said Harish Krishnakumar, Senior Market Analyst, IDC India. He said that there was demand from large enterprises, tech startups and government institutions. The pandemic, along with investments from tech giants is expected to propel the adoption of cloud among SMBs, he added. Follow and connect with us on Twitter, Facebook, Linkedin"
<https://cio.economictimes.indiatimes.com/news/cloud-computing/indias-public-cloud-services-market-to-grow-to-7-4-billion-by-2024-idc/79678423>