Indian IT companies rode the cloud wave. As hyperscalers’ growth tapers, how will it impact them?
Synopsis
Cloud services account for a double-digit percentage of sales pipelines of IT companies. Every move to the cloud involves an IT player shepherding the transfer of data and processes. As the hyperscalers grew, Indian IT firms grew alongside them. But with growth slowing down for the last four quarters, what will be the impact on cloud units?
In the early days of the pandemic, it seemed that growth would never end for the large hyperscalers — Amazon Web Services, Microsoft Azure, and Google Cloud. They had spent years investing in enterprise-sales teams and partnering with IT companies and it had begun to pay off. Growth was so good that internal teams were asked to be careful with their own server usage — so that there would always be spare capacity to sell to clients. Internal
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