India’s Domestic IT Market to Touch $67 Billion by 2020

India Domestic IT Market is currently sized at USD 36 Billion in 2015 and is projected to grow at 14% CAGR to USD 67 Billion by 2020, making it the second largest IT Market in APAC Region by 2018.
Future proofing media with cloud
According to a report by Zinnov, the total cloud market in India will grow at 45% CAGR to USD 14.8 Billion in 2020. The study estimates the private cloud to increase to USD 7.4-7.6 Billion in 2020. The public cloud market is expected to almost of equivalent size at USD 7.0-7.4 Billion in 2020.
Multiple factors are expected to result in significant adoption of cloud solutions. Some of the primary drivers are setting up of local datacenters. The expected 3X increase in internet penetration backed by a digital India initiative that is expected to attract USD 17 Billion investment in next 3-4 years. 90% of SMB’s are expected to be tech influenced by 2020. This coupled with over 3X growth in total number of technology startups in India offering vertical specific innovative solutions backed with affordable pricing will drive adoption of cloud solution