In The cloud market, says the report, is currently highly fragmented and estimated to be around US$40 billion globally, adding the opportunity provides deep silver lining for IT services players.
Pointing out that cloud is reducing the barrier to entry and enabling non-traditional IT players to enter, it says, cloud will be a net positive impact on existing service lines while also opening up new product opportunities.
The study says of the total share of US$650-US$700 billion market, infrastructure as a service constitutes around USS$140-US$150 billion, while platform as a service would constitute around US$40 billion-US$48 billion. Likewise, software as a service component, the study notes, would constitute around US$230-US$245 billion, with IT services for cloud comprising rest of US$240-US$260 billion.
Releasing the report, Nasscom President Som Mittal said, as businesses move to cloud there will be zero tolerance as clients look for more robust systems.
In this regard, he said, India could lead the cloud revolution through innovations as companies including SMBs are migrating to cloud milieu for most of their IT needs while enterprises are witnessing phased adoption.
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