APPD Market Report Article
MumbaiMarch 16, 2023
Dr Samantak Das, Chief Economist and Head of Research & REIS, India
BFSI and fintech scale up colo and cloud requirements
- Demand from BFSI, fintech and tech players increased during the quarter.
- Cloud players continued to increase their pre-commitments alongside robust growth in cloud services.
Cloud players scale up self-build ambitions
- Amazon Web Services is reported to have acquired 60 acres of land in Thane, near Mumbai, for over INR 18 billion (USD 220 million).
- Google is reported to have picked up a 381,000 sq ft space in Navi Mumbai through a long-term lease of over 28 years.
Rollout of 5G and data protection bill to propel industry growth
- The central government announced the Digital Personal Data Protection Bill 2022, providing a framework for data protection and supervision.
- Major telecom players have rolled out 5G services in the city, driving growth for the data centre industry.
Outlook: New operators to explore entry strategies
- New colo operators are expected to assess the power availability for setting up base.
- Cloud players are expected to diversify across micro-market locations in the availability zones (AZs).