India platform as a service (PaaS) market is projected to witness a CAGR of 22.80% during the forecast period FY2025-FY2032F, growing from USD 4.01 billion in FY2024 to USD 20.74 billion in FY2032. Over the last decade, the Indian economy has been digitalizing at a remarkable pace. According to the State of India’s Digital Economy Report FY2024, India has become the third largest digitalized country in the world in terms of economy-wide digitalization and 12th among the G20 countries in the level of digitalization of individual users. Moreover, the Ministry of Electronics & Information Technology, Government of India, estimated that India’s digital economy stood at 11.74% of the national income in FY2022-FY2023 and is anticipated to rise to 13.42% by FY2024-FY2025. Moreover, the department stated that the digital economy in FY2022-FY23 was equivalent to USD 368 billion in Gross Value Added (GVA) and USD 402 billion in Gross Domestic Product (GDP).

Furthermore, as per the Ministry of Electronics & IT, India’s digital economy is projected to contribute nearly one-fifth of the country’s overall economy, outpacing the growth of traditional sectors by FY2030. Also, digital platforms, in particular, have expanded rapidly, with an anticipated growth rate of approximately 30% in the coming years. In FY2022-FY2023, the digital economy accounted for 14.67 million workers, or 2.55% of India’s workforce, with the majority of these jobs (58.07%) in the digital-enabling industry. Therefore, with the growing digitization of the country, it is estimated that the India platform as a service (PaaS) market will experience promising growth in the forecast period.

Growing Cloud Adoption is Driving the Market Growth

The rapid shift towards cloud-based infrastructure and services in India is a major growth driver for platform as a service (PaaS). More and more businesses are moving away from traditional on-premises systems to cloud solutions for greater scalability, flexibility, and cost efficiency. More than 90% of Indian businesses consider cloud transformation essential for AI integration. Additionally, 67% of Indian firms are in the process of moving their applications to the cloud, highlighting the nation's dedication to innovation and efficiency.

Furthermore, the Government of India is actively driving the adoption of cloud through several initiatives, starting with MeitY launching a GI Cloud called MeghRaj. The initiative is focused on accelerating the delivery of e-services and intelligently optimizing ICT spending across government departments. MeitY has also published extensive guidelines for enabling cloud adoption among government departments. These guidelines range from procurement and capacity planning to best migration practices. This strategic thrust goes hand-in-hand with the burgeoning platform as a service (PaaS) market in India, further accelerating the nation's digital transformation while improving efficiency in the public and private sectors.

Increased Internet Penetration is Proliferating the Market Demand

The growing availability of relatively cheap internet and mobile connectivity in India is expanding the user base for cloud-based services, such as the platform as a service (PaaS) market. Today, with over 900 million internet users in FY2023, India is one of the fastest-growing digital markets in the world, with affordable data plans and high smartphone penetration being driving forces. This increased penetration of the internet is allowing business enterprises, in particular SMEs and startups, to utilize cloud-based platforms for developing, deploying, and managing applications. According to a FY2023 report by the Internet and Mobile Association of India (IAMAI), rural internet users are growing at a faster rate than urban users, further broadening the reach of cloud services.

Growing connectivity further drives demand for scalable and cost-effective platform as a service (PaaS) solutions by building and delivering digital services to a much more enormous audience. For example, e-commerce, edtech, and fintech are using platforms as a service (PaaS) to create new applications that reach a growing and diverse internet user base in India.

Increasing Availability of Skilled Labor Accelerating the Market

The increasing availability of skilled developers and IT professionals, along with cloud-based technology, is supporting the adaptation of platform as a service (PaaS) in India. With more demand in their quest for cloud-based solutions, the government and the private sector are evolving various upskilling initiatives to bridge the gaps between the talent in demand and the talent available within the country. A report issued by the National Association of Software and Service Companies (NASSCOM) in FY2023 stated that India is expected to have more than 1.5 million cloud professionals by FY2025, which positions India as one of the leading pools of talent worldwide regarding cloud technologies. This skilled workforce is helping businesses exploit the PaaS platform to develop, deploy, and manage applications. Educational institutions, training platforms, and associated certification programs focus more on cloud computing, with PaaS being a core area of focus.

Furthermore, initiatives like the National Skill Development Corporation (NSDC) and collaborations between tech giants like AWS, Microsoft Azure, and Google Cloud with Indian universities are developing a new generation of cloud-savvy professionals.

Download Free Sample Report

Future Market Scenario (FY2025-F2032F)

India's platform as a service (PaaS) market is anticipated to experience steady growth as Indian businesses are increasingly adopting digital technologies to enhance operational efficiency, customer experience, and innovation, driving demand for platform as a service (PaaS) solutions.
Rapid shift towards cloud-based infrastructure and services, supported by government initiatives like "Digital India," is expected to drive the growth of India platform as a service (PaaS) market.
The growing availability of affordable internet and mobile connectivity is expected to expand the user base further for cloud-based services and accelerate the cloud adoption within the country, thereby proliferating the India platform as a service (PaaS) market demand.

Report Scope

“India Platform as a Service (PaaS) Market Assessment, Opportunities, and Forecast, FY2018-FY2032F”, is a comprehensive report by Markets and Data, providing an in-depth analysis and qualitative and quantitative assessment of the current state of India platform as a service (PaaS) market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecasts between FY2025 and FY2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

Click Here:https://www.marketsandata.com/industry-reports/india-platform-as-a-service-market

About Us:

Markets and Data provides a comprehensive/ panoramic understanding of markets at global, regional, and country levels. Examine changing consumer preferences, emerging challenges, underlying trends, and growth prospects to accelerate your business strategies.

Contact

Mr. Vivek Gupta

5741 Cleveland street,

Suite 120, VA beach, VA, USA 23462

Tel: +1 (757) 343-3258

Email: [email protected]

Website: https://www.marketsandata.com

Author : priya sharma