The rise of Microsoft and HCLTech in the cloud
According to Fortune Business Insights, the global cloud computing market is forecast to reach $1,712.44 billion by 2029, up from $480.04 billion in 2022.
Among leading cloud providers, Microsoft Corporation perhaps knew this prediction better than the rest as it recently beat Wall Street estimates—of $2.23 per share with $2.45 per share—in the fiscal third quarter, driven by growth in its cloud computing among other products and services.
“The bottom line is that despite all the concerns that the sky is falling in big tech, the truth is companies still see value in cloud computing and there’s still a huge percentage of workloads that can be moved to the cloud,” said Bob O’Donnell, an analyst for TECHnalysis Research, speaking to Reuters.
In another news, Irina Ghose, Chief Operating Officer for Microsoft India, recently said the organization’s strategy in India is focused on delivering cloud and AI solutions. For Microsoft, India is an important market and there is a strong demand across industries in the country.
