The industry segment had an estimated revenue of $5.01 billion (roughly Rs. 31,793 crores) in January-March quarter of 2014. Cloud computing facilitates sharing of technological resources, software and digital information. It operates on a pay-per-use model, helping companies to cut costs as they do not have to invest heavily in infrastructure.
According to various industry reports, public and private cloud services is expected to be a multi-billion opportunity for IT firms as clients move to the cloud to host their data and applications to become more agile and increase cost efficiencies.
Public IT cloud services spending alone are estimated to grow to more than $127 billion (roughly Rs. 8,06,070 crores) in 2018.
This is the second-highest growth in five quarters (in which IDC has tracked y-o-y revenue) and the second-largest in terms of total spending in nine quarters of tracking.
"Revenue from infrastructure sales for private cloud grew by 24.4 percent y-o-y to $2.4 billion (rouhgly Rs. 15,238 crores)," IDC said.
On the other hand, sales for public cloud grew 25.5 percent to $3.9 billion (roughly Rs. 24,763 crores). "Cloud IT infrastructure growth continues to outpace the growth of the overall IT infrastructure market, driven by the transition of workloads onto cloud-based platforms," IDC Research Manager (Server, Virtualisation and Workload Research) Kuba Stolarski said.
Both private and public cloud infrastructures have been growing at a similar pace, suggesting that customers are open to a broad array of hybrid deployment scenarios as they modernise their IT, Stolarski added.