Cloud computing, which is Internet-based, facilitates sharing of technological resources, software and digital information. The emerging field would function on a pay-per-use model, helping technology companies to bring down cost. Cloud computing is a platform where software applications and related resources can be shared online.
A recent study, said that rising growth in the digital information space would create a significant market opportunity for both the cloud computing and storage. Digital information in India will grow from 40,000 petabytes to 2.3 million petabytes. Reports also states that India’s cloud computing market will be around USD 1 billion over the next five years.