India Cloud Storage Market Assessment, By Type [Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), Software-as-a-Service (SaaS)], By Deployment [Private, Public, Hybrid], By Enterprise Type [Large Enterprise, Small and Medium Enterprise], By Industry [BFSI, IT & Telecom, Retail, Healthcare, Government & Public Sector, Media & Entertainment, Others], By Region, Opportunities, and Forecast, FY2018-FY2032F

The Indian cloud storage market size was estimated at USD 3.0 billion in FY2024 and is projected to reach USD 10.9 billion in FY2032, growing at a CAGR of 17.38% between FY2025 and FY2032. 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.

Increased Adoption of Cloud Storage in SMEs

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.

Involvement of Government Entities Drive India Market Growth

The involvement of government entities is a key driver for the India cloud storage market's growth in the forecast period. Government initiatives, including the National e-Governance Plan and the Digital India campaign, have been instrumental in encouraging the adoption of cloud storage solutions. These initiatives focus on improving the effectiveness and accessibility of government services by leveraging cloud technology. In addition, including cloud services and data centres in the harmonised list of infrastructure has increased private sector investments, introducing a robust ecosystem for cloud storage. Furthermore, the collaboration between leading tech companies and launch of cloud concerning programs by government entities are propelling the adoption of cloud storage solutions in different sectors driving the India market growth for cloud storage.

For instance, in March 2024, Reserve Bank of India announced to launch a cloud storage pilot program in 2025 to offering affordable data storage solutions to financial institutions. This initiative aimed to counter the dominance of global cloud service providers including Microsoft Azure, Amazon Web Services, and others.

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.

Government Initiatives Promoting Local Cloud Storage Solutions

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.

In November 2024, the Reserve Bank of India (RBI) announced plans to launch a pilot program in 2025, offering local cloud data storage services to financial institutions at affordable prices. This initiative aims to challenge the dominance of global cloud service providers like Amazon Web Services, Microsoft Azure, Google Cloud, and IBM Cloud in the Indian market. The RBI's cloud platform will collaborate with local IT firms, promoting data localization and enhancing the security and sovereignty of financial data.

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.

Download Free Sample Report

Report Scope :

"India Cloud Storage Market Assessment, Opportunities and Forecast, FY2018-FY2032F,” 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, opportunities and forecast between FY2025 and FY2032. 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	FY2024
Historical Period	FY2018-FY2023
Forecast Period	FY2025-FY2032
Market Size in FY2024	USD 3.0 Billion
Projected Growth Rate	CAGR of 17.38% from 2025-2032
Revenue Forecast in FY2032	USD 10.9 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
   1. Infrastructure-as-a-Service (IaaS)
   2. Platform-as-a-Service (PaaS)
   3. Software-as-a-Service (SaaS)
2. India Cloud Storage Market, By Deployment
   1. Private
   2. Public
   3. Hybrid
3. India Cloud Storage Market, By Enterprise Type
   1. Large Enterprise
   2. Small and Medium Enterprise
4. India Cloud Storage Market, By Industry
   1. BFSI
   2. IT & Telecom
   3. Retail
   4. Healthcare
   5. Government & Public Sector
   6. Media & Entertainment
   7. Others
5. India Cloud Storage Market, By Region
   1. East
   2. West
   3. North and Central
   4. 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.

If you can't find what you're searching for or have any custom requirements for India Cloud Storage Market, you may approach our team at info@marketsandata.com