Cloud computing is a nascent market in India and very less Indian companies actually offer services related to cloud computing, a facility that allows sharing of technological resources, software and digital information. It functions on a pay-per-use model which in turn helps tech companies to bring down their costs substantially.

According to a report released by consulting firm Zinnov Management Consulting, India’s cloud computing market will be around USD 1 billion over the next five years. The potential of the cloud computing platform is massive and is expected to mainly benefit small and medium business, SOHO (small office, home office) and consumer segments.

A recent study, sponsored by IT infrastructure firm EMC, said that rising growth in Digital information in India is growing at a rapid rate and it is estimated that it will grow from 40,000 petabytes to 2.3 million petabytes over the next ten years which happens to be twice as fast as the worldwide rate. Another study sposored by IT infrastructure firm, EMC shows that the digital information space would create a significant market opportunity for both the cloud computing and storage. The EMC estimates also show that the storage market in India will be over $1 billion in the next five years. India shining digitally, really?

via Livemint (Image Courtesy)