50% of Indian SMEs prioritize Cloud for business expansion in FY2024, finds ‘SM E Digital Insights’ Study
· 20% of SMEs have successfully migrat ed more than half of their workload to Cloud.
· Over half (51%) of SMEs surveyed prior itize Cloud for customer support.
· Nearly half (40%) of SMEs cite enhance d security as top Cloud driver.
New Delhi, 17th July 2024. Fuelled by In dia’s growing digital acceleration, small and medium enterprises (SMEs) are rap idly leveraging Cloud for their competit ive edge, according to a new ‘SME Digit al Insights’ study by Tata Tele Business Services (TTBS) and Cyber Media Rese arch (CMR). A significant 58% of SMEs nationwide believe they have a high lev el of digital maturity and are at the fore front of this ongoing digital shift. In FY2 024, a whopping 50% of the surveyed S MEs are leveraging Cloud for their busin ess expansion.
The SME Digital Insights study provides invaluable insights into Cloud adoption trends among Indian SMEs,” stated Vish al Rally, Senior Vice President – Product and Marketing, Tata Teleservices. “This study resonates with our business pulse, affirming that cloud technology present s an unparalleled opportunity fo r busin esses to amplify agility, foster co llabora tion, and gain a decisive competi tive ed ge while enhancing the customer experi ence. With domain expertise and innov ative solutions, we are powering S MEs to harnessing the transformative p ower of cloud solutions for sustained success in an increasingly digital world.
According to Prabhu Ram, Head- Indust ry Intelligence Group (IIG), Cyber Media Research (CMR), “Indian small and medi um enterprises are rapidly leaning-in on Cloud, leveraging its efficiency, reliabili ty, and adaptability to transform their b usinesses. The shift to Cloud is enabling SMEs to streamline their operations, fu el their growth and deliver exceptional customer experiences. Cloud adoption unlocks access to cutting-edge advance ments like AI, empowering SMEs to com pete and thrive. Partnering with trusted experts is key to maximizing the Cloud’s potential, from enhanced customer sup port to innovative solutions. This mome ntum towards Cloud is expected to cont inue, with SMEs recognizing it as a comp etitive differentiator and a key factor in building resilience.”
Here are the key study highlights from t he SME Digital Insights study:
· Public Cloud Reigns Supreme. Over hal f (52%) of SMEs leverage the scalability and affordability that Public Cloud offe rs. Nearly one in every five SMEs (20%) have successfully migrated more than 50% of their workload to Cloud. 51% of SMEs nationwide prioritize Cloud for cu stomer support.
· Security First: A Key Cloud Driver for SMEs. Nearly half (40%) of SMEs priorit ize enhanced security compliance as the main reason for adopting Cloud, highlig hting its strategic role in business decisi ns. Interestingly, regional alignment is st rong with Mumbai leading at 55%.· Futureproofing with Cloud Skills. 36% of SMEs are prioritizing Cloud skilling f or their future Cloud usage plans. 48% o f SMEs in North and East India are focus ing on Cloud skills.
· SMEs show varied adoption of emergin g tech. Healthcare (33% Big Data, 31% AI) sees promise in improved patientcar e and faster drug discovery but struggle s with data silos and skill gaps. IT/ITES le ads in AI/ML (35%) for innovation, while BFSI (37% Big Data) leverages Data Ana lytics for insights.
· Partnerships Power Cloud Success: SM Es are actively seeking trusted partners who can assist them in supporting them with their Cloud expansion plans (39%) as well as in attaining Cloud cost-effecti veness (37%).
About the SME Digital Insights
The SME Digital Insights Study is an in-d epth analysis of Cloud adoption trends a mong Indian SMEs. It explores the signifi cant benefits Cloud offers, identifies key opportunities for SMEs, and provides pr actical strategies to maximize their succ ess. The study leverages insights from 8 01 IT decision-makers across micro, sma ll, and medium enterprises in ten major I ndian cities.
Link to access Whitepaper : https://bit.ly/SMEDigitalInsights
About Tata Teleservices
Tata Teleservices Limited along with its subsidiary Tata Teleservices (Maharash tra) Limited (NSE: TTML, BSE: 532371) (Tata Teleservices) is a growing market leader in the Enterprise space. It offers a comprehensive portfolio of Connectivi ty, Collaboration, Cloud & SaaS, Securit y, and Marketing solutions for businesse s in the country under the brand name T ata Tele Business Services (TTBS). Tata Teleservices has an extensive, high quali ty and robust wireline network and offe rs its products and services in more than 60 cities across India. Tata Teleservices has one of the largest enterprise-focuse d teams in the industry with deep custo mer engagement and technology orient ation offering focused sales and service experience to customers. Tata Teleservi ces (Maharashtra) Limited is listed on B SE and NSE in India.
For more information, please visit: https://www.tatatelebusiness.com
About CMR:
CyberMedia Research (CMR) offers ind ustry intelligence, consulting, and mark eting services, catering to a diverse clien tele, including SMBs, Large Enterprises, Associations, and Government entities. With a rich portfolio of syndicated repo rts and custom research capabilities, C MR provides insights across multiple ind ustries, markets, and geographies.
For more information, please visit info@cmrindia.com
