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Hybrid Cloud is in the air and 74 per cent of mid-market enterprises (among those surveyed) in India are currently moving their applications to Cloud, embracing the power of digital to be more agile, flexible and scalable, a new report said on Wednesday.

While 82 per cent of mid-market enterprises are reducing their focus from on-premises business applications, 46 per cent of enterprises are adopting a Hybrid Cloud strategy, said the report by software major SAP India.

The report assessed over 350 Indian mid-market enterprises with an annual revenue of Rs 500 crore-Rs 2,000 crore.

"The Indian midmarket segment is poised to play a significant role in the country's quest to become a $5tn economy. SAP is committed to co-create, empower and enable mid-market enterprises in their digital-first business and growth journey," said Kulmeet Bawa, President, and Managing Director, SAP Indian Subcontinent.

The findings also showed that 68 per cent of mid-market enterprises either intend to increase (5-10 per cent) or retain their IT spend in 2022.

Nearly 83 per cent of enterprises are focusing on resiliency objectives like business continuity in the country while 50 per cent of enterprises are taking an integrated approach towards employee experience and engagement post the pandemic as compared to only 36 per cent enterprises in pre-pandemic.

"For small and midsize businesses, 2021 represent the dawn of a golden age. Based on IDC research, it is very clear that smart business leaders are investing in cloud technologies that will help them meet their future goals," said Subramanian Ananthapadmanabhan, Vice President, SAP Indian Subcontinent.