Cloud Adoption in Indian BFSI Sector Survey
The cloud computing paradigm offers users many advantages, such as cost savings, agility, elasticity and shorter time to market. A survey by Markets and Markets estimated the global cloud computing market size to grow from USD 272.0 billion in 2018 to USD 623.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 18.0%.
Cloud adoption has made much progress, albeit at different rates in various industry sectors and countries because of an assortment of factors, drivers and impediments. With an on-demand pay-per-user model, limited upfront investment, flexibility and ease of use, cloud is an even more attractive and lucrative model for the banking, financial services and insurance (BFSI) sector because of the complex IT needs and stringent compliance requirements.
In this survey report, Cloud Security Alliance (CSA) turns its attention to India, a country that has numerous hard and soft infrastructures that support cloud adoption, and is known for its quick adoption of technology and high mobile penetration. Despite that, the Indian BFSI sector is slow in embracing cloud computing technologies compared to other industry sectors.
The “Cloud Adoption in the Indian BFSI sector” survey will be undertaken by CSA Bangalore Chapter to understand and evaluate cloud adoption trends, concerns, drivers and impediments in India’s BFSI sector, with a focus on cloud security.
The key contributors of the research survey are :
Krishna Pandey, Cloudera
Sujatha Yakasiri, Edgeverve, Infosys
Vandana Verma, IBM
Manjesh Pai, Cognizant
Sailaja Vadlamudi, SAP
Sashibhusan Satapathy, Cognizant
Satyavathi Divadari, Micro Focus
Currently the research work is in progress and stay tuned for more updates ……