The Indian cloud storage market size was estimated at USD 2.57 billion in FY2023 and is projected to reach USD 7.89 billion in FY2031, growing at a CAGR of 17.38% between FY2024 and FY2031.
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The Indian cloud storage market size was estimated at USD 2.57 billion in FY2023 and is projected to reach USD 7.89 billion in FY2031, growing at a CAGR of 17.38% between FY2024 and FY2031. The Indian cloud market is being driven by factors such as increasing adoption of cloud storage by SMEs, infrastructure for cloud storage being accelerated by high-speed internet, increasing use of cloud analytics for decision making, technological advancements and initiatives being taken by the government.
The adoption of cloud storage by small and medium sized enterprises (SMEs) in India has been growing steadily over the past few years. With increasing availability of affordable internet services and initiatives being taken by the government for promoting digitization, more SMEs are adopting cloud storage for storing their data and run their businesses. There are some 0.3 million small scale enterprises and 5,000 medium scale enterprises in India.
4G and 5G Networks are Establishing Infrastructure for Cloud Storage Market
With high-speed internet connectivity, users can easily upload and access data on cloud storage services from anywhere, without the intervention of physical storage devices. Rolling out of 5G networks in India will offer faster internet speed, making cloud storage more accessible and convenient. 5G technology coupled with cloud computing opens up several opportunities for the India market including increased accessibility, IoT connectivity, improved security systems and better connectivity for work from anywhere.
Application of AI for Achieving Data Integrity
While choosing cloud storage solutions, organisations are looking for Al (Artificial Intelligence) and ML (Machine Learning) capabilities, especially with the massive amount of data that has emerged as a result of the working from home and enterprises migrating primarily to the cloud. For addressing concerns with data integrity, Al assists businesses in segmenting, cleaning and consolidating the data.
Increasing Use of Cloud Computing by Government
Cloud computing practices are frequently being used in the IT projects of the central government. Cloud computing is gradually but steadily replacing traditional government data centres. One of the primary benefits of cloud computing is the ability to reduce expenses for businesses over time. It also helps in reducing the physical storage of data and other important documents.
Digilocker, a cloud storage platform introduced by the Ministry of Electronics and IT in 2016 under the government’s Digital India Initiative crossed 100 million users in 2022.
On the 4th and 5th of August 2022, a two-day workshop was organised at the Haryana Institute of Public Administration for participants from Delhi-NCR. The programme was designed to build capacities within the government at both the central and state levels by using a synchronised approach to ensure the availability of adequate knowledge, appropriate competencies, and skill set to leverage the benefits of cloud computing in e-Governance practises. Meghraj is a government initiative for cloud computing that focusses on the delivery of e-services in India.
Impact of COVID-19 on Indian Cloud Storage Market
The pandemic had a significant impact on the Indian Cloud Storage Market. With the shift towards remote work and virtual connection, businesses and individuals have increasingly relied on cloud storage to store and share their data, which led to a surge in demand for cloud storage services in India. However, the pandemic has also resulted in economic uncertainty and budget constraints for many businesses, which has led to a slowdown in the adoption of cloud storage solutions.
Report Scope
"India Cloud Storage Market Assessment, Opportunities and Forecast, FY2017-FY2031F,” is a comprehensive report by Markets and Data, providing in-depth analysis and assessment of cloud storage market in India, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, COVID-19 impact, opportunities and forecast between FY2024 and FY2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
Report Attribute |
Details |
Base Year for Analysis |
FY2023 |
Historical Period |
FY2017-FY2022 |
Forecast Period |
FY2024-FY2031 |
Market Size in FY2023 |
USD 2.57 Billion |
Projected Growth Rate |
CAGR of 17.38% from 2024-2031 |
Revenue Forecast in FY2031 |
USD 7.89 Billion |
Units |
Revenue in USD and Volume in Units |
Segments Covered |
By Type By Deployment By Enterprise Type By Industry |
Regions Covered |
North East West & Central South |
Key Companies Profiled |
Amazon Internet Services Private Limited (AISPL), Microsoft Corporation India Pvt. Ltd., IBM India Private Limited, Google India Pvt Ltd, Hewlett Packard Enterprise India Pvt Ltd., Dropbox Inc., VMware Software India Private Limited, Cisco Systems (India) Private Limited, Oracle India Private Limited, CTRLS Datacenters Ltd. |
Customization Scope |
15% free report customization with purchase. |
Pricing and Purchase Options |
Avail the customized purchase options to fulfil your precise research needs. |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/PDF format on special request). |
In this report, India Cloud Storage Market has been segmented into following categories:
1. India Cloud Storage Market, By Type
a. Infrastructure-as-a-Service (IaaS)
b. Platform-as-a-Service (PaaS)
c. Software-as-a-Service (SaaS)
2. India Cloud Storage Market, By Deployment
a. Private
b. Public
c. Hybrid
3. India Cloud Storage Market, By Enterprise Type
a. Large Enterprise
b. Small and Medium Enterprise
4. India Cloud Storage Market, By Industry
a. BFSI
b. IT & Telecom
c. Retail
d. Healthcare
e. Government & Public Sector
f. Media & Entertainment
g. Others
5. India Cloud Storage Market, By Region
a. East
b. West
c. North and Central
d. South
Key Player Landscape and Outlook
The market comprises of few small- to medium-sized local firms in addition to major players. New companies are entering the market as the adoption and need for cloud storage is increasing. The market is significantly influenced by major players, and they aim to grow their market share as per consumers accessibility.
AWS (Amazon Web Services) stated that they are satisfied with their position in the Indian market, where technology adoption provides great headroom for development, few days after making sizable investments to create its second datacentre cluster in Hyderabad, India. Google Cloud’s presence in in India is expanding rapidly as Google has already established two cloud offices in India and intends to open a new one as well.
Key Players Operating in India Cloud Storage Market
· Amazon Internet Services Private Limited (AISPL)
· Microsoft Corporation India Pvt. Ltd.
· IBM India Private Limited
· Google India Pvt Ltd
· Hewlett Packard Enterprise India Pvt Ltd.
· Dropbox Inc.
· VMware Software India Private Limited
· Cisco Systems (India) Private Limited
· Oracle India Private Limited
· CTRLS Datacenters Ltd.
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Table of Contents
1. Service Overview
2. Research Methodology
3. Impact of Covid-19 on India Cloud Storage Market
4. Executive Summary
5. Voice of Customer
6. India Cloud Storage Market Outlook, FY2017-2031F
6.1. Market Size & Forecast
6.1.1.By Value
6.2. Market Share & Forecast
6.2.1.By Type
6.2.1.1. Infrastructure-as-a-Service (IaaS)
6.2.1.2. Platform-as-a-Service (PaaS)
6.2.1.3. Software-as-a-Service (SaaS)
6.2.2.1. Private
6.2.2.2. Public
6.2.2.3. Hybrid
6.2.3.1. Large Enterprise
6.2.3.2. Small and Medium Enterprise
6.2.4.1. BFSI
6.2.4.2. IT & Telecom
6.2.4.3. Retail
6.2.4.4. Healthcare
6.2.4.5. Government & Public Sector
6.2.4.6. Media & Entertainment
6.2.4.7. Others
6.2.5.1. East
6.2.5.2. West
6.2.5.3. North and Central
6.2.5.4. South
6.2.6.By Company Market Share (%), FY2023
7. Market Mapping, FY2023
7.1. By Type
7.2. By Deployment
7.3. By Enterprise Type
7.4. By Industry
7.5. By Region
8. Macro Environment Review and Industry Structure
8.1 Value Chain Analysis
8.2 Supply Demand Analysis
8.3 Import Export Analysis
8.4 Porter’s Five Force Analysis
8.1.1 Threat of Substitutes
8.1.2 Threat of New Entrant
8.1.3 Bargaining Power of Suppliers
8.1.4 Bargaining Power of Suppliers
8.1.5 Intensity of Competitive Rivalry
8.5 PESTEL Analysis
8.5.1 Political Framework
8.5.2 Environmental Impact
8.5.3 Social Factors
8.5.4 Technological Advancements
8.5.5 Economic Review
8.5.6 Legal Policies and Regulatory Bodies
9. Price Analysis for Top Five Market Players
10. Market Dynamics
10.1. Growth Drivers
10.2. Growth Inhibitors
11. Market Trends & Developments
12. Case Studies
13. Competitive Landscape
13.1. SWOT Analysis of Top Five Market Leaders
13.1.1. Core Competence and Key Value Proposition
13.1.2. Areas of Improvement
13.1.3. Untapped Scope of Business
13.1.4. Market Value Proposed by Competitors
13.2. Market Competition Matrix of Top Five Market Leaders
13.3. Market Revenue Analysis of Top Five Market Leaders (in %, FY2023)
13.4. Emerging Players and Substitutes (If Any)
13.5. Mergers and Acquisitions/ Joint Ventures (If Applicable)
14. Competition Outlook
14.1. Amazon Internet Services Private Limited (AISPL)
14.1.1. Company Details
14.1.2. Products & Services
14.1.3. Financials (As reported)
14.1.4. Key Market Focus & Geographical Presence
14.1.5. Recent Developments
14.1.6. Key Management Personnel
14.2. Microsoft Corporation India Pvt. Ltd.
14.3. IBM India Private Limited
14.4. Google India Pvt Ltd
14.5. Hewlett Packard Enterprise India Pvt Ltd.
14.6. Dropbox Inc.
14.7. VMware Software India Private Limited
14.8. Cisco Systems (India) Private Limited
14.9. Oracle India Private Limited
14.10. CTRLS Datacenters Ltd.
15. Strategic Recommendations
16. About Us & Disclaimer
List of Figure: India Cloud Storage Market
Figure 1. India Cloud Storage Market, By Value, In USD Million, FY2016 - 2030F
Figure 2. India Cloud Storage Market Share, By Type, In USD Million, FY2016 - 2030F
Figure 3. India Cloud Storage Market Share, By Deployment, In USD Million, FY2016 - 2030F
Figure 4. India Cloud Storage Market Share, By Enterprise, In USD Million, FY2016 - 2030F
Figure 5. India Cloud Storage Market Share, By Industry, In USD Million, FY2016 - 2030F
Figure 6. India Cloud Storage Market Share, By Region, In USD Million, FY2016 - 2030F
Figure 7. By Type Map-Market Size (USD Million) & Growth Rate (%), FY2022
Figure 8. By Deployment Map-Market Size (USD Million) & Growth Rate (%), FY2022
Figure 9. By Enterprise Map-Market Size (USD Million) & Growth Rate (%), FY2022
Figure 10. By Industry Map-Market Size (USD Million) & Growth Rate (%), FY2022
Figure 11. By Region Map-Market Size (USD Million) & Growth Rate (%), FY2022
List of Table : India Cloud Storage Market
Table 1. Pricing Analysis of Products from Key Players
Table 2. Competition Matrix of Top 5 Market Leaders
Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
Table 4. About Us - Regions and Countries Where We Have Executed Client Projects
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