Industry

‘Firms to raise spend on hybrid cloud’

Indian enterprises are expected to spend almost half of their cloud budget on hybrid over the next three years, said IBM.

Business executives in the country are increasingly planning to invest in hybrid multi-cloud platform strategies and capabilities to drive business transformation and unlock value, as per a survey by IBM Institute for Business Value.

Indian companies may be using at least 10 clouds from a growing number of vendors by 2023 but only 29% of businesses have a holistic multi-cloud management strategy.

According to respondents, some 17% of their IT spend is allocated to cloud at present and they plan to increase the share of spend on hybrid from 42% to 49% by 2023. The majority of their cloud budgets are being allocated to hybrid cloud platforms even as their public cloud spend is set to reduce from 50% share today to 43% by 2023. Most industries will exhibit growth in the number of clouds they will deploy, which can go up to 10 clouds particularly in insurance, telecommunications and retail as these industries will continue to expand multiple cloud deployments in the next three years.

Commenting on the survey insights, Viswanath Ramaswamy, Vice-President, IBM Cloud and Cognitive Software and Services, IBM India/South Asia said, “The adoption of cloud has been a central feature in developing new, digitally-driven business models. In India, leading businesses such as Bharti Airtel and Vodafone Idea are achieving business transformation by leveraging hybrid multi-cloud platform technology and embedding AI. We are betting big on Hybrid Cloud which is secure, interoperable, open and free from vendor lock-in.”

The survey was conducted between February and April 2020 in collaboration with Oxford Economics and covered 6,000 executives globally, including 412 executives from India, across industries, job titles and geographies.

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Printable version | Oct 22, 2020 6:57:56 PM | https://www.thehindu.com/business/Industry/firms-to-raise-spend-on-hybrid-cloud/article32516789.ece

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