India Platform as a Service Market Assessment, By Type [Application PaaS, Integration PaaS, Database PaaS], By Deployment Type [Public, Private, Hybrid], By Organization Size [Large Enterprises, Small and Medium Enterprises], By Vertical [Banking, Financial Services, and Insurance, Consumer Goods and Retail, Telecommunications, Information Technology and IT-enabled Services, Manufacturing, Healthcare and Life Sciences, Energy and Utilities, Others], By Region, Opportunities and Forecast, FY2018-FY2032F

India platform as a service (PaaS) market is projected to witness a CAGR of 22.80% during the forecast period FY2025-FY2032F, growing from USD 4.01 billion in FY2024 to USD 20.74 billion in FY2032. Over the last decade, the Indian economy has been digitalizing at a remarkable pace. According to the State of India’s Digital Economy Report FY2024, India has become the third largest digitalized country in the world in terms of economy-wide digitalization and 12th among the G20 countries in the level of digitalization of individual users. Moreover, the Ministry of Electronics & Information Technology, Government of India, estimated that India’s digital economy stood at 11.74% of the national income in FY2022-FY2023 and is anticipated to rise to 13.42% by FY2024-FY2025. Moreover, the department stated that the digital economy in FY2022-FY23 was equivalent to USD 368 billion in Gross Value Added (GVA) and USD 402 billion in Gross Domestic Product (GDP).

Furthermore, as per the Ministry of Electronics & IT, India’s digital economy is projected to contribute nearly one-fifth of the country’s overall economy, outpacing the growth of traditional sectors by FY2030. Also, digital platforms, in particular, have expanded rapidly, with an anticipated growth rate of approximately 30% in the coming years. In FY2022-FY2023, the digital economy accounted for 14.67 million workers, or 2.55% of India’s workforce, with the majority of these jobs (58.07%) in the digital-enabling industry. Therefore, with the growing digitization of the country, it is estimated that the India platform as a service (PaaS) market will experience promising growth in the forecast period.

Growing Cloud Adoption is Driving the Market Growth

The rapid shift towards cloud-based infrastructure and services in India is a major growth driver for platform as a service (PaaS). More and more businesses are moving away from traditional on-premises systems to cloud solutions for greater scalability, flexibility, and cost efficiency. More than 90% of Indian businesses consider cloud transformation essential for AI integration. Additionally, 67% of Indian firms are in the process of moving their applications to the cloud, highlighting the nation's dedication to innovation and efficiency. 

Furthermore, the Government of India is actively driving the adoption of cloud through several initiatives, starting with MeitY launching a GI Cloud called MeghRaj. The initiative is focused on accelerating the delivery of e-services and intelligently optimizing ICT spending across government departments. MeitY has also published extensive guidelines for enabling cloud adoption among government departments. These guidelines range from procurement and capacity planning to best migration practices. This strategic thrust goes hand-in-hand with the burgeoning platform as a service (PaaS) market in India, further accelerating the nation's digital transformation while improving efficiency in the public and private sectors.

Increased Internet Penetration is Proliferating the Market Demand

The growing availability of relatively cheap internet and mobile connectivity in India is expanding the user base for cloud-based services, such as the platform as a service (PaaS) market. Today, with over 900 million internet users in FY2023, India is one of the fastest-growing digital markets in the world, with affordable data plans and high smartphone penetration being driving forces. This increased penetration of the internet is allowing business enterprises, in particular SMEs and startups, to utilize cloud-based platforms for developing, deploying, and managing applications. According to a FY2023 report by the Internet and Mobile Association of India (IAMAI), rural internet users are growing at a faster rate than urban users, further broadening the reach of cloud services.

Growing connectivity further drives demand for scalable and cost-effective platform as a service (PaaS) solutions by building and delivering digital services to a much more enormous audience. For example, e-commerce, edtech, and fintech are using platforms as a service (PaaS) to create new applications that reach a growing and diverse internet user base in India.

Increasing Availability of Skilled Labor Accelerating the Market

The increasing availability of skilled developers and IT professionals, along with cloud-based technology, is supporting the adaptation of platform as a service (PaaS) in India. With more demand in their quest for cloud-based solutions, the government and the private sector are evolving various upskilling initiatives to bridge the gaps between the talent in demand and the talent available within the country. A report issued by the National Association of Software and Service Companies (NASSCOM) in FY2023 stated that India is expected to have more than 1.5 million cloud professionals by FY2025, which positions India as one of the leading pools of talent worldwide regarding cloud technologies. This skilled workforce is helping businesses exploit the PaaS platform to develop, deploy, and manage applications. Educational institutions, training platforms, and associated certification programs focus more on cloud computing, with PaaS being a core area of focus.

Furthermore, initiatives like the National Skill Development Corporation (NSDC) and collaborations between tech giants like AWS, Microsoft Azure, and Google Cloud with Indian universities are developing a new generation of cloud-savvy professionals.

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Future Market Scenario (FY2025-F2032F)

• India's platform as a service (PaaS) market is anticipated to experience steady growth as Indian businesses are increasingly adopting digital technologies to enhance operational efficiency, customer experience, and innovation, driving demand for platform as a service (PaaS) solutions.
• Rapid shift towards cloud-based infrastructure and services, supported by government initiatives like "Digital India," is expected to drive the growth of India platform as a service (PaaS) market.
• The growing availability of affordable internet and mobile connectivity is expected to expand the user base further for cloud-based services and accelerate the cloud adoption within the country, thereby proliferating the India platform as a service (PaaS) market demand.

Report Scope

“India Platform as a Service (PaaS) Market Assessment, Opportunities, and Forecast, FY2018-FY2032F”, is a comprehensive report by Markets and Data, providing an in-depth analysis and qualitative and quantitative assessment of the current state of India platform as a service (PaaS) market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecasts between FY2025 and FY2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

Report Attribute	Details
Base Year of the Analysis	FY2024
Historical Period	FY2018-FY2023
Forecast Period	FY2025-FY2032F
Projected Growth Rate	CAGR of 22.80% between FY2025 and FY2032
Revenue Forecast in FY2032	USD 20.74 billion
Segments Covered	Type, Deployment Type, Organization Size, Vertical
Regions Covered	North, South, East, West and Central
Key Companies Profile	Google India Private Limited, Amazon Web Services India Private Limited, Microsoft Corporation India Pvt. Ltd., IBM India Private Limited, SB Telecom India Pvt Ltd., NTT India Private Limited, Fujitsu Consulting India Private Limited, NEC Corporation India Private Limited, SAP India Pvt. Ltd., Oracle India Private Limited
Customization Scope	15% free report customization with purchase
Pricing and Purchase Options	Avail the customized purchase options to fulfill your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

In the report, the India platform as a service (PaaS) market has been segmented into the following categories: 

• By Type
  • Application PaaS (aPaaS)
  • Integration PaaS (iPaaS)
  • Database PaaS (dbPaaS)
• By Deployment Type
  • Public
  • Private
  • Hybrid
• By Organization Size
  • Large Enterprises
  • Small and Medium Enterprises (SMEs)
• By Vertical
  • Banking, Financial Services, and Insurance (BFSI)
  • Consumer Goods and Retail
  • Telecommunications
  • Information Technology and IT-enabled Services (ITeS)
  • Manufacturing
  • Healthcare and Life Sciences
  • Energy and Utilities
  • Others
• By Region
  • North
  • South
  • East
  • West and Central

Key Players Landscape and Outlook

The increasing demand for cloud-based solutions and digital transformation is dynamically evolving the competitive landscape of India's platform as a service (PaaS) market. The market features a combination of global cloud giants, local players, and emerging startups like NeevAI SuperCloud Private Limited and Yotta Technologies Private Limited, all vying for a share of India’s growing cloud environment. For instance, in June FY2024, NeevAI SuperCloud Private Limited made a bold entry into the AI cloud space with a plan to construct an AI cloud infrastructure with 40,000 GPUs designed explicitly for Indian clients by FY2026. The project aimed to support Indian enterprises with various AI workloads, including training and inference. To kickstart this venture, NeevAI SuperCloud Private Limited has already ordered 8,000 NVIDIA GPUs with HPE. Approximately 3,500 developers have also registered to use NeevCloud’s inference platform.

Furthermore, India platform as a service (PaaS) market is expected to experience growth due to the increasing number of investments in the cloud environment by major key players. For instance, in January FY2025, Amazon Web Services India Private Limited unveiled its plan to invest USD 8.3 billion into cloud infrastructure in the Maharashtra region to further expand cloud computing capacity in India. The investment is estimated to contribute to USD 15.3 billion in gross domestic product (GDP) of India, supporting more than 81,300 full-time jobs annually in the local data center supply chain by FY2030. Also, the company reported that the USD 8.3 billion investment is a part of its USD 12.7 billion investment in cloud infrastructure in India by FY2030 to cater to the growing customer demand for cloud services across the country.

Key Players Operating in the India Platform as a Service (PaaS) Market are:

• Google India Private Limited
• Amazon Web Services India Private Limited
• Microsoft Corporation India Pvt. Ltd.
• IBM India Private Limited
• SB Telecom India Pvt Ltd.
• NTT India Private Limited
• Fujitsu Consulting India Private Limited
• NEC Corporation India Private Limited
• SAP India Pvt. Ltd.
• Oracle India Private Limited

Markets and Data’s reports answer the following questions:

• What is the current and future market size of the product/service in question in India or specific to different countries?
• How are the markets divided into different product/service segments and the market size and growth of each segment?
• What is the market potential of different product segments and their investment case?
• How are the markets predicted to develop in the future and what factors will drive or inhibit growth?
• What is the business environment and regulatory landscape specific to the product/service?

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