The country’s enterprise cloud services market could more than double over the next five years, driven by growing demand for cloud based applications, digital transformation and enterprise technology services, according to a Shriram Research note on Jio Platforms’ IPO.
The report projects the market to expand from Rs 36,800 crore in FY26 to Rs 1.03 lakh crore by FY31, implying a compound annual growth rate (CAGR) of 23%. The expansion could create opportunities across India’s digital infrastructure ecosystem, including data centres, cloud platforms, networking and enterprise technology providers. As businesses adopt more cloud based services, demand for computing capacity and reliable digital infrastructure could also increase.
India’s Enterprise Technology Market
FY26 estimates versus FY31 projections
| Market segment | FY26 | FY31 projection | CAGR |
|---|---|---|---|
| Enterprise cloud services | Rs 36,800 crore | Rs 1,02,900 crore | 23% |
| Business applications and solutions | Rs 1.50 lakh crore | Rs 4.30 lakh crore | 23% |
| Managed services and IT support | Rs 1.42 lakh crore | Rs 2.74 lakh crore | 14% |
Source: Shriram Research, Jio Platforms Limited – IPO Note, October 19, 2026. FY31 figures are projections cited in the report, not actual outcomes.
The report also points to growth across related enterprise technology segments. Business applications and solutions are projected to grow from Rs 1.50 lakh crore in FY26 to Rs 4.30 lakh crore by FY31, while managed services and IT support could increase from Rs 1.42 lakh crore to Rs 2.74 lakh crore over the same period.
For Jio Platforms, enterprise cloud is part of a broader strategy to expand beyond connectivity into digital services and technology solutions. However, the company’s core telecom business continues to account for most of its revenue, leaving digital services with room to grow.
The projections underline the potential scale of India’s enterprise technology opportunity, although the report does not quantify how much of the forecast market growth will translate into demand for data centre capacity or AI computing infrastructure.
