New Delhi, Oct 26 (IANS): Public cloud services revenue in India will reach $731 million by the end of 2015 -- an increase of $176 million over the 2014 revenue of $555 million, according to information technology research and advisory company Gartner.

In 2015, public cloud services revenue is driven by high growth rates in key market segments, such as cloud infrastructure as a service (IaaS), cloud management and security services, and software as a service (SaaS), it said.

Gartner also predicted high rates of spending on cloud services in India to continue through 2019 when the market is expected to reach $1.9 billion.

"The forecast for cloud services vary based on local factors, including supply and demand within the local markets, country-specific economic conditions, currency exchange rates, and other global market factors," Sid Nag, research director at Gartner said.

"The explosive growth of IaaS and SaaS in the India market is an indication that enterprises in India are moving away from building their own on premises infrastructure, as well as migrating from the traditional software licensing model, to a SaaS model served up by cloud providers," he added.

According to Gartner's latest cloud adoption survey, 61 percent of respondents in India indicated that they are currently using cloud services, and additional 31 percent plan to use cloud services by the end of 2015.

"Emerging markets, such as China and India, are expected to lead in real GDP growth from 2015 through 2017. There are some exceptions, such as Brazil, Russia and Turkey, whose currencies have declined significantly compared with other world currencies," Nag added.