A Zinnov Study predicts that the adoption of cloud technologies will drive the growth of the Indian domestic IT market, which will touch $67 billion by 2020.
The Indian Government’s Digital India project will be an exponential driver for massive growth in IT adoption, the report said. The estimated budget of Digital India is going to be $19 billion between 2014 to 2018.
Zinnov study found that increased access to enabling infrastructure such as the increased use of smart phones, and easy access to the Internet will result in the greater adoption of technology by small businesses.
The study highlights key initiatives in IT across government, BFSI, education, healthcare and telecom. All of this is expected to help India become the second largest IT market in APAC by 2018.
The key drivers of IT growth highlighted in the report are:
According to the report, the cloud market in India will grow at 45% CAGR to $14.8 billion in 2020. The study estimates that the private cloud market will increase to $7.4-7.6 billion in 2020. The public cloud market is expected to grow to an almost of equivalent size at $7.0-7.4 billion in 2020.
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