1 in 2 Indian SMEs leveraging Cloud for business expansion: Report

New Delhi: Fuelled by India's growing digital acceleration, one in two small and medium enterprises (SMEs) are leveraging Cloud for their business expansion, a report revealed on Wednesday.

Around 58 per cent of these SMEs believe they have a high level of digital maturity and are at the forefront of this ongoing digital shift, according to the report by Tata Tele Business Services (TTBS) and Cyber Media Research (CMR).

“Cloud technology presents an unparalleled opportunity for businesses to amplify agility, foster collaboration, and gain a decisive competitive edge while enhancing the customer experience,” said Vishal Rally, SVP, Product and Marketing, Tata Teleservices.

Over half (52 per cent) of the SMEs leverage the scalability and affordability that Public Cloud offers.

Nearly one in every five SMEs (20 per cent) has successfully migrated more than 50 per cent of their workload to Cloud. About 51 per cent of SMEs nationwide prioritise Cloud for customer support.

Nearly half of the SMEs prioritise enhanced security compliance as the main reason for adopting Cloud, highlighting its strategic role in business decisions, said the report.

“Indian SMEs are rapidly leaning-in on Cloud, leveraging its efficiency, reliability, and adaptability to transform their businesses,” said Prabhu Ram, Head, Industry Intelligence Group (IIG), Cyber Media Research (CMR).

“Cloud adoption unlocks access to cutting-edge advancements like AI, empowering SMEs to compete and thrive,” he added.

The number of MSMEs in the country is expected to grow from 6.3 crore to 7.5 crore in the coming times, growing at a projected CAGR of 2.5 per cent, according to IBEF.