8K Miles Eyes $200-Million Revenue Over Next Two Years
Suresh Venkatachari, CEO at 8K Miles talks about the boom n cloud servicing and future outlook.
Cloud solutions provider 8K Miles Software Services Ltd. aims to clock $200-million revenues in 24-30 months, riding on the strong growth in the segment as a whole, its Chief Executive Officer Suresh Venkatachari told BloombergQuint in an interview.
“The cloud industry is growing tremendously at 26 percent compounded annual growth rate compared to the traditional IT. The cloud adaption is happening a lot in the life sciences or healthcare industry...where the cloud adaption as of now is perhaps 10-15 percent. So, there is (an opportunity of) 85 percent growth within the organisation over the next 3-6 years period,” he said.
Road Ahead
According to a research report, healthcare spending on cloud servicing is expected to be at $9.5 billion by financial year 2019-20.
As the workload in healthcare moves to clouds systems, there is an opportunity in recurring revenue in terms to manage the infrastructure on the public cloud, Venkatachari said.
We see a tremendous opportunity where the cloud becomes our biggest innovation in terms of the Internet of Things, or mobility. A lot of IoT devices generate a large amount of data, and for that cloud is the way to solve the problem. This, we believe, is a great opportunity for us.Suresh Venkatachari, CEO, 8K Miles Software Services