Cloud Computing to help generate 1.1 mn jobs in India by 2022: Study

Cloud Computing and its increasing usage among Indian enterprises is expected to create over a million new jobs by 2022.

According to a new study by IDC, in India, Salesforce, a cloud computing company, will create over 1.1 million direct and indirect jobs, contributing $17.2 billion in new business revenues to the Indian GDP by 2022. Last year IDC forecasted the Salesforce Economy would create 500,000 jobs for India, and $4.2 billion in new revenues by 2020. By 2022, the Salesforce partner ecosystem in India would gain $5.6 for every dollar Salesforce makes.

Globally, the Salesforce Economy’s largest impact on industries will be in finance, with the forecasted creation of 584,995 new jobs and $164 billion in new business revenues by 2022.

According to IDC Research, the new findings demonstrate the benefits of cloud computing by permitting an increase in IT innovation, which, in turn, supports business innovation that leads to accelerated development schedules, faster project completion, shorter time to market for new products, and lower operational costs. Cloud computing is currently growing at a much faster pace than IT as a whole. Annual growth is forecast at 17 per cent, anchoring investments in products and services, supporting digital transformation projects that will reach $2 trillion by 2020.

“The Salesforce economy report reinstates our commitment to the Indian market, creating over 1.1 million jobs. This will produce a cascading effect, significantly contributing to the growth of the Indian economy,” said Sunil Jose, Senior Area Vice-President, Salesforce India. “As the pace of change accelerates, organisations are transforming digitally and we want Salesforce to be at the heart of this revolution democratising digital transformation.”

Because organisations that spend on cloud computing subscriptions also spend on ancillary products and services, from additional cloud subscriptions and professional services to supporting software, hardware, and managed services, the Salesforce ecosystem in 2017 is nearly four times bigger than Salesforce itself. By 2022 it will be more than five times bigger. IDC estimates that in 2017, for every dollar Salesforce makes, the ecosystem will make $3.67 and will reach $5.18 by 2022. By 2022, Salesforce will drive nearly 5 million indirect jobs, which would be created by spending in the general economy by the people filling the 3.3 million direct jobs.