Indian cloud service market worth close to $1 billion

cloudsPublic cloud services revenues in the sub-continent are set to generate $731 million by the end of this year, according to a report from market research outfit Gartner.

That’s an increase of $176 million from 2014 revenue, and the growth is being fuelled by sectors including infrastructure as a service (IaaS), cloud management and security services and software as a service (SaaS).

Gartner believes that by 2019 revenues from India will total $1.9 billion.

Sid Nag, a research director at the firm, said that the rapid growth of IaaS and SaaS shows that Indian enterprises are moving away from creating their own on premises infrastructure and shifting from the traditional software licensing model.

Gartner thinks that emerging markets including China and India will show real GDP growth from now through to 2017. But Brazil, Russia and Turkey will be exceptions because of currency fluctuations.