Business executives in India plan to invest in hybrid multi-cloud platforms for business transformation: IBM study
Bengaluru: Business executives in India are increasingly planning to invest in hybrid multi-cloud platform strategies and capabilities to drive business transformation and to unlock value, revealed an IBM Institute for Business Value survey.
The IBM said in a statement it surveyed Indian and global executives across industries to gain an in-depth understanding of their organisations current use of hybrid cloud, multi-cloud and their approach to multi-cloud management.
The report is titled, ‘The hybrid cloud platform advantage: A guiding star to enterprise transformation in India.
IBM said according to the survey respondents, 17 per cent of their IT spend is allocated to cloud at present and they plan to increase the share of spend on hybrid from 42 per cent to 49 per cent by 2023, according to the survey respondents.
The majority of their cloud budgets are being allocated to hybrid cloud platforms even as their public cloud spend is set to reduce from 50 per cent share today to 43 per cent by 2023.
Most industries will exhibit growth in the number of clouds they will deploy, which can go up to 10 clouds particularly in insurance, telecommunications and retail as these industries will continue to expand multiple cloud deployments in the next three years, according to the study.
Further, the study confirmed the return on investment (ROI) of a platform approach as respondents said that the value derived from a full hybrid, multi-cloud platform technology and operating model at scale is 2.5 times the value derived from a single platform, single cloud vendor approach.
In fact, the platform approach is cited as accelerating value with scale.