Revenues From Cloud Services In India To Exceed $3 Billion By 2015

IDC, a technology research firm, has projected that cloud services in India will generate revenues in excess of $3 billion by 2015, out of which $534 million in revenues is expected within this year. The revenues will grow at a compounded annual growth rate (CAGR) of 56 per cent. In the same period the global revenues from cloud services will increase from $29 billion to over $70 billion by 2015 according to Hindustan Times.

Microsoft's CEO Steve Ballmer, on a recent visit to New Delhi had stated that cloud computing will generate 300,000 jobs in India.

Cloud computing is in hot demand because in the traditional software package model, enterprises had to buy software and install them on their servers and computers whereas Cloud computing or Software as a Service (SaaS) allows users to access business applications over the Internet through their browsers.

A lot of companies are entering Cloud computing, earlier this year, Microsoft announced that it will launch its cloud computing offerings with its next major release of Dynamics ERP solutions. The company has also decided to spend around 90 per cent of their research budget on cloud computing.

Apple has also announced that it will reveal its own cloud offering called iCloud next week at the company's Worldwide Developers Conference (WWDC). And in an exclusive interview with Techcircle.in, Raju Vegesna, Chairman of the NASDAQ listed Sify Technologies Ltd said the company is stepping up its focus on cloud computing this year with its Sify Software Services division. Sify already has a consumer cloud service called mylife.