ANGALORE, INDIA: The public cloud services market in India is on pace to grow 32.2 percent in 2014 to total $556.8 million, an increase from 2013 revenue of $421 million, according to Gartner, Inc. Spending on software as a service (SaaS) will total $220 million in 2014, growing 33.2 percent from last year.
SaaS is the largest overall cloud market segment, followed by infrastructure as a service (IaaS), totaling $78 million and business process as a service (BPaaS), totaling $75 million.
"Growth of cloud services in India reflects the demand for new sourcing models," said Ed Anderson, research vice president at Gartner. "We expect high growth rates across all cloud services market segments in India."
BPaaS is expected to grow from $62.3 million in 2013 to $204 million in 2018. SaaS is expected to grow from $166 million in 2013 to $636 million in 2018, and IaaS is forecast to grow from $58 million in 2013 to $317 million in 2018.
The total cloud market in India in 2013 was $421 million, and the total market for public cloud services in India is expected to reach $1.7 billion in 2018.