Oracle’s Indian business has posted a strong growth in the cloud front, registering a 25 per cent growth quarter-on-quarter (QoQ) in Q1 FY23. The growth is in line with Oracle’s global results, which saw its Q1 Cloud Infrastructure (IaaS) revenue rise to USD 0.9 billion (up 52 per cent in USD).
During the Q1 FY23, Oracle Cloud Infrastructure (OCI) has shown itself to be a strong growth contributor for the company. It has posted 100 per cent growth for the third year in succession while other businesses too have shown growth year-on-year (YoY).
The quarter has seen Oracle win big customers in Q1 including HDFC Life, Federal Bank, NSE, Cognizant, Manappuram Comptech and Consultants Limited, SBI, Polycab, Forbes Marshall Pvt Ltd, Tensor
The company’s investments in the cloud regions of Mumbai and Hyderabad are yielding it strong results. With the MeitY’s empanelment, Oracle can now also tap into the government sector and customers operating in heavily regulated industries.
According to IDC, the overall Indian public cloud services market is expected to reach USD 13.5 billion by 2026, growing at a CAGR of 24 per cent for 2021-26.
For growth in the coming quarters in FY23, Oracle has identified the public sector, banking, financial services and insurance (BFSI), manufacturing, professional services (Information Technology/Information Technology Enabled Services).
The perception of Oracle cloud business’ reliability quotient is a key propeller driving enterprises to embrace its cloud services in the India.
Speaking to BW Businessworld, Kapil Makhija, Vice President – Technology Cloud Business, Oracle India said, “The cloud market today in India has been growing at 20+ per cent YoY and we have been registering this growth on quarterly basis. So, our growth is four times the market today”.
The stellar growth of the company’s cloud business in the country makes India the top performing country in the Japan and Asia-Pacific region.
“In the last eight months, we have seen more cloud projects than we have seen in the last three years because even governments today want quick deployments, so they can deliver better governance and operate more efficiently, and most importantly, save their costs”, Makhija added.
In addition, the company has also seen good traction amongst the startups and SMBs in India. In this segment, Oracle serves the likes of DeepVisionTech.AI, TechGentsia, Light Information Systems, Focus Edumatics, National E-Repository Limited, Shanrohi Technologies and Shivalik Bank. Unicorns such as Flipkart and OYO also use Oracle’s cloud services.
Oracle says that Indian organisations (on an average) using OCI report 30-40 per cent improvement in application performance, saving 30 per cent time with faster migration and improved data management, which results in faster reporting and analytics, particularly for some of the long-running and time-consuming reports/procedures. Most of them are also reporting 30-40 upfront cost savings.
The company serves more than 15,000 customers in India across large and SMB enterprises, across the private and public sectors. BusinessWorld