India Cloud Storage Market to Grow at 42% CAGR through 2023

Increasing internet and smartphone penetration, rapidly growing IoT ecosystem and expanding e-commerce industry to drive India cloud storage market through 2023

According to TechSci Research report, “India Cloud Storage Market By Type, By Deployment Mode, By Organization Size, By End User, Competition Forecast & Opportunities, 2013 – 2023”, cloud storage market in India is projected to grow at a CAGR of around 42% during 2018 – 2023. The key factors expected to drive the market include increasing investments in 4G and 5G networks, coupled with booming FinTech sector, which is likely to boost the demand for cloud storage on account of increasing level of data usage. Additionally, it is anticipated that the prices of cloud storage would decline, thereby further positively influencing the market during forecast period.  

Browse 39 Figures spread through 79 Pages and an in-depth TOC on “India Cloud Storage Market”

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Rapidly growing IoT ecosystem coupled with increasing internet and smartphone penetration is generating vast amount of data. For the data storage and management at consumer and enterprise level, cloud storage is gaining traction, thereby fueling India cloud storage market. Access speed has increased tremendously in the country, with rising investments being witnessed in fiberization and IP Networks. Growth in bandwidth is boosting the data access and streaming capabilities, and during the forecast period, bandwidth is expected to grow rapidly, thereby aiding growth in the country’s cloud storage market. North India accounts for the largest market share, owing to the huge presence of banking and financial institutions in the region. However, South India is anticipated to emerge as the fastest growing region in the coming years, backed by high and rising concentration of SMEs.

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“Significant growth in the adoption of connected devices, such as smartphones and smart speakers is encouraging Information Technology (IT) companies to acquire cloud storage for the efficient storage of increasing volume of data being generated by connected devices. Moreover, popularity of Over the Top (OTT) content streaming services is growing at a rapid pace. With increasing number of customers opting for premium services, OTT service providers are expected to invest in cloud storage to increase volume of content available on their platforms and reduce their operating cost associated with data infrastructure.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Cloud Storage Market By Type, By Deployment Mode, By Organization Size, By End User, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of India cloud storage market and has also provided the statistics and information on market structure, size, share and future growth of India cloud storage market. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in the market.

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