Cloud Services (Indian Market)

India IT Market

Main Article: India IT Market

History

2024: Indian cloud services market growth 31.3% to $10.9 billion

At the end of 2024, the volume of the cloud services market in India reached $10.9 billion. For comparison, a year earlier, costs in this area were estimated at $8.3 billion. Thus, an increase of 31.3% was recorded. Relevant data are provided in the IDC study, the results of which were published on July 9, 2025.

Analysts view the IaaS (Infrastructure as a Service), PaaS (Platform as a Service), and SaaS (Software as a Service) segments. The largest share of revenue in the Indian cloud market in 2024 was provided by the direction of SaaS, followed by IaaS and PaaS.

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One of the key drivers of the industry, the authors of the study call digital transformation initiatives, which are accompanied by the active transfer of corporate workloads to the cloud. This model provides flexibility and scalability, as well as cost-effectiveness, since companies do not need to spend money on purchasing equipment and supporting their own IT infrastructure. In terms of revenue in India, cloud collaboration applications, customer relationship management (CRM) and enterprise resource management (ERM) systems led the way in 2024. Artificial intelligence platforms and application development software showed significant growth.

Indian companies are increasingly investing in public cloud services to modernize outdated systems, introduce digital services, improve efficiency and stimulate innovation. The catalyst for the market is AI, says Rajiv Ranjan, IDC's associate director of cloud and artificial intelligence research.

Analysts believe that in the future, the CAGR in India's cloud services market will be 22.6%. Thus, by 2029, expenses may increase to $30.4 billion.^[1]

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