Tech Firm's Oracle Cloud Infrastructure Shows 125% India Market Growth By CIOTechOutlook Team

Tech Firm's Oracle Cloud Infrastructure Shows 125% India Market Growth

CIOTechOutlook Team | Monday, 03 April 2023, 03:15 IST

As per Chris Chelliah, senior vice president, technology & customer strategy, Japan & Asia Pacific, Oracle Cloud Infrastructure (OCI) business showed a 125% increase in the India market during the first half of 2022–2023 compared to the same period the previous year.

The organisation also seen a surge in growth inside the government sector thanks to the implementation of programmes like NITI Aayog, PM Gati Shakti, and ONDC.

“We see demand and growth in consumption across industries driven by a need for personalised services,” said Chelliah.

He claimed that the cloud and software company, particularly with regard to supply chain solutions, sees a significant need for AI-based solutions within its portfolio.

In the first half of 2022–2023, he claimed, the company's cloud consumption solutions saw growth of up to 125% year over year.

Cloud consumption refers to the usage of cloud applications or cloud infrastructure by customers. “During this time the company also saw rapid growth of its customer base, with almost 70% of Oracle's customers in India signing long-term contracts with us. They are committing not just for one year or two years, they’re committing for multi years,” said Chelliah.

According to Chelliah, demand for OCI is rising from both the public sector and small and medium-sized enterprises (SMB). According to him, digitalization measures have driven a recent five-fold increase in economic activity in the public sector. “We have seen significant growth opportunities from the Indian SMB market from digital natives (startups) and mid-tier companies, including edtechs, fintechs, cooperative banks,” he said.

This pattern is also seen in the rise of the company's mid-sized clients from Tier 2 and Tier 3 locations, where it has intensified its concentration.

The company has also witnessed a large number of customers close down their on-premise or physical data centres and migrate crucial workloads to OCI, like in the cases of firms like IFFCO and Manappuram Finance.

Out of the 41 global cloud regions owned by the corporation, two are located in India. According to the CEO, OCI has converted many customers who were wanting to scale up from on-premises to the cloud hyperscaler environment by having a presence in both cloud application services and physical infrastructure.

“We work very closely with them (customers) through our partners and system integrators. Partners are an integral part of our go-to-market strategy and we are fully geared to drive growth for each other with cloud opening so much business opportunity,” said Chelliah.