The Hybrid Cloud Market research report study discusses about market dynamics like drivers, opportunities, restrictions, and challenges. In addition, the report also describes new and developing patterns and their influence on current and future market dynamics. The Hybrid Cloud Market research report provides information about market penetration that offers thorough data on the market offered by the main market players. It also offers analysis and awareness and analysis about different factors during the projected period.
Market Overview
The global Hybrid Cloud market size was estimated at USD 96.2 billion in 2023 and is projected to reach USD 278.51 billion in 2030 at a CAGR of 16.4% during the forecast period 2023-2030.
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A hybrid cloud is an integrated cloud service that uses both private and public clouds to perform individual functions within the same organization. The importance of the hybrid cloud has grown due to the versatility and dynamism of the work. It offers several advantages such as cost-effectiveness and scalability, flexibility and security. Because of these advantages, organizations are moving to hybrid clouds to achieve security for data, applications and mass storage to reduce their capital costs by adopting a combination of private and public cloud models.
Digital transformation is a key factor driving demand for cloud services. Due to the advantages offered by hybrid cloud, major players are adopting hybrid cloud platforms to meet current business requirements in line with digital transformation. Small-scale industries are also modernizing their IT infrastructure, which is fueling market growth. However, lack of expertise and poor security practices may hinder market growth during the forecast period.
The spread of the COVID-19 pandemic resulted in increased adoption of Hybrid Cloud to manage to change business scenarios. Many countries across the globe mandated work from home based on public health safety concerns that drove the need for remote working infrastructure. Therefore, organizations operating at all levels, including government bodies, expected a wide range of potential impacts, such as increased demand for virtual services coupled with rising citizen expectations around the delivery of these services, the longer-term potential for reshaping the government workforce, and the need to provide adaptive and dynamic regulatory models. Additionally, the COVID-19 pandemic accelerated cloud usage for US companies in every industry. Many US enterprises prioritizing cloud adoption in their organization noted the increased importance of cloud due to the pandemic.
Key Findings
- The component segment is further fragmented into Solutions, and Services. The solution segment is expected to account for a larger market size during the forecast period. The growth of this segment is driven by the greater flexibility offered by the hybrid cloud to move critical workloads between cloud solutions. In addition, the solutions offer a cost-effective approach. This is driving both large and small businesses to adopt hybrid cloud solutions, which is expected to drive market growth.
- The service model segment is further bifurcated into software as a service (SaaS), Infrastructure as a service (IaaS) and platform as a service (PaaS). The Software as a service (SaaS) is the largest market during the forecast period. In a business environment, SaaS is an exciting alternative to traditional software installation. This is due to the various advantages offered by SaaS, including reduced setup and installation time, low cost, scalability and integration, ease of use and smooth migration. These factors thus increase the demand for SaaS and thus accelerate the growth of the market.
- The vertical segment is further bifurcated into IT & telecom, healthcare, BFSI, retail, government, media & entertainment, transportation & logistics, manufacturing and others. BFSI to account for a larger market size during the forecast period. The BFSI industry is witnessing strong market growth due to the growing need to store sensitive financial information. In this digital era, BFSI companies are significantly adopting digital tools that have created the need to efficiently segregate data loads and move a significant portion to the public cloud.
- The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period. In North America, due to the rapid convergence of machine learning solutions with big data, the Internet of Things (IoT), and other emerging technologies.
Regional Analysis
North America to Dominate the Market
- North America is estimated to account for the largest market share during the forecast period. In North America, due to the rapid convergence of machine learning solutions with big data, the Internet of Things (IoT), and other emerging technologies.
- Moreover, some of the top companies providing hybrid cloud solutions have a large presence in the region, which is expected to generate high revenue in the North American region during the forecast period.
Competitive Landscape
- Accenture PLC
- Alibaba Cloud (Alibaba Group Holding Limited)
- Amazon Web Services (Amazon Inc.)
- Atos
- AWS
- Centurylink
- Cisco Systems Inc.
- Dell EMC (Dell Technologies Inc.)
- DXC Technology Company
- Equinix Inc.
- Flexera Software LLC
- Fujitsu Ltd
- Google LLC
- Hewlett Packard Enterprise Company
- IBM Corporation
- Intel Corporation
- Lumen Technologies Inc.
- Microsoft CorporationNTT Communications Corporation
- Oracle Corporation
- Panzura Inc.
- Rackspace Technology Inc.
- VMware Inc.
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Recent Developments
- In March 2023, Flexera announced the general availability of Flexera One FinOps. This solution helps in strengthening an enterprise's FinOps and central cloud teams while enhancing the convergence of IT asset management (ITAM) and FinOps, empowering enterprises to significantly improve how they visualize and allocate cloud usage and billing, efficiently manage hybrid IT estates, and operate cloud at scale.
- In March 2023, NTT Communications Corporation announced the launch of efforts involving digital humans and the virtual world as part of its business co-creation program, "OPEN HUB for Smart World," with the goal of broadening possibilities for all people, including those with workplace or time constraints. It plans to encourage solutions to address problems such as Japan's declining labor force participation.
Reasons to Acquire
- Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
- Gain authentic and granular data access for the Hybrid Cloud Market to understand the trends and the factors involved in changing market situations.
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
Table of Contents
The Hybrid Cloud Market is segmented into various segments such as component, end user industry, workloads, organization size, location type, vertical, and region:
Based on Component
- Services
- Cloud Management and Orchestration
- Disaster Recovery
- Hybrid Hosting
- Solutions
Based on the Service Mode
- Software as a Service (SaaS)
- Infrastructure as a Service (IaaS)
- Platform as a Service (PaaS)
Based on the End-user Industry
- Government and Public Sector
- Healthcare
- Banking, Finance, Services, and Insurance (BFSI)
- Retail
- Information and Communication Technology
- Media and Entertainment
- Others
Based on the Workloads
- Storage, Backup, and Disaster Recovery
- Application Development and Testing
- Database Management
- Business Analytics
- Integration And Orchestration
- Customer Relationship Management
- Enterprise Resource Management
- Cloud Collaboration and Content Management
- Others
Based on Organization Size
- Small and medium-sized enterprises
- Large enterprises
Based on Vertical
- BFSI
- IT & Telecom
- Retail
- Healthcare
- Media & Entertainment
- Government
- Manufacturing
- Transportation & Logistics
- Others
Based on Region
Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Vietnam
- New Zealand
- Philippines
- Thailand
- Malaysia
- Hong Kong
- Taiwan
- Singapore
- Indonesia
- Sri Lanka
- Rest of Asia-Pacific
North America
- S.
- Canada
- Mexico
Europe
- Germany
- K.
- France
- Italy
- Spain
- Sweden
- Austria
- Finland
- Belgium
- Turkey
- Russia
- Poland
- Hungary
- Czech Republic
- Switzerland
- Netherlands
- Rest of Europe
South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
Middle East & Africa
- South Africa
- A.E.
- Saudi Arabia
- Oman
- Qatar
- Iran
- Egypt
- Rest of Middle East and Africa
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