In a recently released report by IBM Institute for Business Value (IBV) says that Indian organizations are predicted to spend almost half of their cloud budget on hybrid in the next three years. Allocating 17 percent of the IT spending to cloud, business executives plan to increase the share of expenditure on hybrids. The increase is from 42 percent to 49 percent by 2023. “A major part of the cloud budget is focused on hybrid cloud platforms, with a reduction from 50 percent share at present to 43 percent share by 2023 in public cloud expends,” says the report.

The report, named as ‘The hybrid cloud platform advantage: A guiding star to enterprise transformation in India’, is subjected after a survey conducted by IBV in collaboration with Oxford Economics, which encircled 6,000 executives in the world. The total number of executives from India includes 412, who have been working in different industries, under various job designations, in different parts of the world.

According to the study conducted, the return on investment (ROI), when compared between the value derived from a full hybrid multi-cloud platform technology and operating model is 2.5 times higher than the value derived from a single platform cloud vendor approach. The report suggests that 64 percent of the cloud companies at the advanced level globally recognize the requirement of an enterprise transformation and application modernization to go hand-in-hand. And 68 percent of businesses on the advanced cloud technology is ready to create an open-source cloud platform.