This year’s EY-Nasscom survey shows that one in every two Indian companies have accelerated their journey in cloud computing. The report reveals that four in every five companies will increase their cloud budgets next year.
The pandemic has driven companies towards remote working and digital payments, 78 percent of IT firms and 53 percent of healthcare and banking and financial services companies, have an increased dependence on cloud adoption. The study also mentioned the benefits of cloud adoption as it allows companies to choose between strategic options based on cost differences.
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According to the survey, 67 percent of large scale enterprises, 39 percent of medium-sized companies and 38 percent of small enterprises have accelerated the adoption of cloud services in the past year.
Nitin Bhatt, Technology Sector Leader of EY India said, “Boards and CEOs are increasingly viewing cloud as a strategic imperative for growth and business transformation. They value being able to leverage data and AI on the cloud, enable richer insights and real-time decisions that improve performance and facilitate market differentiation in a secure and trusted environment. To realize transformational value from cloud investments, CEOs must ensure that their cloud strategy is embedded in their larger business strategy.”