As Indian enterprises continue to invest in digitization and shift to the Cloud, firms like Accenture, Oracle, SAP and Nutanix have all reported high double-digit increases in India revenue over the past year.
None of these companies provide a country-wise breakdown of revenue numbers.
The Covid-19 pandemic drove digital transformation and cloud adoption, and this has translated into high demand across the board.
The last two years have seen an acceleration in cloud computing and because the world went digital so rapidly, organizations have also consumed more digital data, said Piyush N Singh, lead – India Business, Accenture.
“So, when you combine those two points, you start getting into a space of what is driving the tech revolution,” he said.
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Accenture is gaining market share in India at a rapid pace, he added.
“The business is in a very healthy state for Accenture today and the reason is it’s not just the tech demand, we are in a stage where there is an ongoing tech revolution. There are very clear, concrete capabilities or phenomena that are driving that,” he said.
This is driving a significant volume of growth for anyone operating in the cloud space.
While hyper-scalers such as Azure, AWS and Google Cloud are doubling down on their India investments and increasing their presence, companies that are helping customers make this shift are seeing rapid growth as well.
Oracle said its cloud business was growing in triple digits in India on the back of strong demand across private and public sector enterprises.
“…we are witnessing extremely great momentum for cloud in India,” said Kapil Makhija, vice president – technology cloud business, Oracle India.
He said the company was doing well in the Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) market.
“Cloud technology has done significantly well, and Oracle’s India business has been a strong growth engine for the company – with the OCI unit clocking over 100% growth for the third year in a row,” he said.
Globally, companies have deferred tech spends or reallocated budgets to focus on high priority areas. In India so far, companies are reporting that demand continues to remain strong as companies move to digitize a greater part of their workloads and core processes.
For most companies, growth is coming from both existing customers expanding the scope of work as well as an addition of new customers.
About 13% of German technology firm SAP’s global customers are now from India, which is among the fastest growing markets for the company, Scott Russell, executive board member, customer success, told ET recently.
“(Indian firms) are trying to expand their business in other parts of the world, and we are able to get the benefit of that,” he said. The enterprise software maker clocked triple-digit growth in India for three of four quarters in 2021.
Most companies remain confident that even if demand cools in geographies such as Europe or North America, India is likely to continue to grow at a similar pace over the next several quarters.
Hyperconverged infrastructure provider Nutanix said while there may be concerns around an impending recession, there was no shortage of money to invest in ways to optimize the infrastructure of an organization.
“We’re not seeing any signs of anyone possibly slowing down (in India),” said Aaron White, vice president and general manager – APJ sales at Nutanix.
“On the contrary, we think customers, clients are really looking at how they use multi-cloud, hybrid-cloud as opposed to having a single partner in the cloud identity and going all out and spending on that they look at a multi cloud strategy and I think that’s where the opportunity for Nutanix is very high,” White added.
In the past year, the company has seen its annual contract value grow by 64% year on year, outpacing other geographies.
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