Multi-cloud has a positive impact on the financial growth of enterprises in India: Vanson Bourne-VMware Research
~71% of enterprises surveyed by Vanson Bourne believe that multi-cloud is absolutely critical to success of a business
~ New global research from VMware reveals that strategic approach to cloud could fast-track business growth in India
~ The transition from cloud chaos to cloud smart is inevitable for organizations in the multi-cloud journey
VMware Inc. (NYSE: VMW), a leading innovator in enterprise software, recently released a global research report on the Multi-Cloud Maturity Index. The new global study from Vanson Bourne in collaboration with VMware identifies the top challenges of those in the midst of cloud chaos. In contrast, cloud smart organizations reveal what they’re doing differently as they capture strategic advantages. The report that includes and covers regions in Asia Pacific, elaborated on the challenges and opportunities that Indian enterprises face as a part of their digital transformation journey, and their strategic approach to multi-cloud adoption. According to the report, 71% of Indian enterprises believe that multi-cloud architectures are absolutely critical to business success, particularly those organizations that are in advanced stages of their cloud journey. However, most enterprises surveyed in India do raise concerns about data sovereignty.
As per the study that was conducted with a sample size of close to 2,000 professionals interviewed during April, May, and June 2022 across the Asia Pacific market, the majority of APJ respondents (90%) say that their organization uses apps that were built to run across multiple public clouds. However, 83% of Indian respondents have had apps built to run across multiple public clouds for more than a year.
There are seven key findings from the report that highlight the multi-cloud journey of Indian enterprises.
- Apps built to run across multiple public clouds: 83% Indian respondents are most likely to have had apps built to run across multiple public clouds for over a year
- Financial impacts: 98% and 100% of those surveyed across India report positive impacts of multi-cloud in terms of revenue and profitability growth, respectively
- Data monetization as a source of revenue: 66% respondents from India believe that data monetization will be a “significant” source of revenue in 2 years’ time
- Data Sovereignty: 60% of Indian respondents show significant concern over data sovereignty
- Managing and securing data: Although a concern, 90% of Indian organizations generally find it easy to manage and 85% of Indian organizations find it easy to secure data in whichever nation it resides
- Impact on business success: A large majority of respondents (71%) believe that multi-cloud architectures are absolutely critical to business success.
- Cost visibility: 94% of Indian respondents report that improvements are required for visibility over operational expenses
As dependencies over digital infrastructure increased during lockdowns, cloud computing technology played an integral role in driving digital acceleration and innovation and helped enterprises enhance speed, agility, and responsiveness. Furthermore, the report states that it is expected that by 2027, businesses all over the world will on average rely on more than two public cloud vendors. Currently, only 19% of surveyed businesses worldwide identify as “cloud smart.” The complexity of multi-cloud, security issues, and a lack of internal experience in multi-cloud deployment and administration are major obstacles for businesses.
While multi-cloud brings with it many advantages, there are also several challenges associated with it. The complexity of multi-cloud, security risks, and a lack of in-house expertise in multi-cloud deployment and management are some of the key challenges enterprises are facing due to increased cybersecurity risks. Along with this, organizations will face challenges related to skills gaps.
Pradeep Nair, Vice President & Managing Director, VMware India, said, “The study confirms that multi-cloud is already a reality for Indian enterprises and is critical to drive greater profitability and revenue growth. However, concerns around data sovereignty, cost and security remain. VMware is uniquely positioned to help enterprises become cloud-smart – move faster and spend less – as they harness the power of multi-cloud.”
Pippa Thirkettle, Senior Research Manager, Vanson Bourne, said, “The results of this research piece are fascinating and really highlight the need for organizations to best utilize their multi-cloud operations in order to get the best out of their business. With just 19% of those surveyed globally falling within the most advanced cloud smart maturity group, it goes to show how much ample opportunity there is for others to improve. With organizations within that most mature group experiencing more favorable business outcomes such as revenue and profitability growth, it demonstrates the positive impacts organizations lagging behind can expect to experience if and when they get there.”
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About Vanson Bourne
Vanson Bourne is an independent specialist in market research for the technology sector. Their reputation for robust and credible research-based analysis is founded upon rigorous research principles and their ability to seek the opinions of senior decision makers across technical and business functions, in all business sectors and all major markets. For more information, visit www.vansonbourne.com