Cloud computing in India is estimated to grow nine fold to reach a market value of $ 4.5 billion or Rs 22,500 crore by 2015 as against the current size of $400 million, according to a study by EMC Corporation and Zinnov Management Consulting.
Within this, the cloud adoption market is likely to grow at 60 per cent and will account for $3.5 billion in revenues, creating 1 lakh jobs by 2015 as against 10,000 today, the study revealed.
"Cloud computing will generate new opportunities for IT vendors and driving changes in traditional IT offerings. There is a high chance that companies that are not adopting IT today and don't have major investments in datacenters and server farms will directly move into the cloud model," Pari Natarajan, chief executive officer at Zinnov Management Consulting said.
Total spends on cloud computing as a proportion of total IT spends is expected to rise from 1.4 per cent in 2010 to 8.2 per cent in 2015. IT/ITeS, telecom, BFSI, manufacturing and government sectors will contribute largest to the cloud market in India, with nearly 78 per cent of the total market, as per the report.
Private cloud deployments could result in potential savings of up to 50 per cent on the IT investments on average, when compared with a legacy IT model, with cost optimisation in segments like telecom and networking, facilities and fabric, hardware, software, internal labour and external IT services, it added.
The study covered responses from over 100 CIOs & IT decision makers in India across industry verticals and was conducted between January and May this year.