Hybrid Cloud Computing Market - Emergence of advanced technologies and global industry analysis 2024

Hybrid cloud computing is gaining traction fast. It is a seamless integration of private, public, and community clouds from various service providers to carry out different functions within the same organization. It helps organizations to take advantage of the cost-effectiveness of public cloud platforms for all non-sensitive operations and rely on private cloud where they are required. Different cloud services complement one another’s functionalities in hybrid cloud computing thereby allowing users to maximize their efficiencies. The adoption of hybrid cloud depends on various factors such as the degree of control needed over data, data security and compliance requirements, and the type of application being used by an organization.

A report by Transparency Market Research segments the global market for hybrid cloud computing based on parameters such as solutions, services, service models, verticals, and organizations’ sizes. Depending upon solutions, for example, it segments the market into security and compliance, cloud management and orchestration, disaster recovery, and hybrid hosting. On the basis of service, it classifies the market into professional and managed services.

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At the forefront of driving growth in the global hybrid cloud computing market is various entities’ requirement for scalable, nimble, and cost-effective cloud computing solutions and the need for smooth interoperability between the existing applications and cloud services. Going forward, more and more savvy enterprises are expected to adopt hybrid cloud technologies to save on costs and to have acces to technical expertise to focus on their core competencies. Organizations can easily shift their non-critical data and applications from private to the public cloud to reduce the web traffic. Another growth driver is the increasing demand for digital services and their applications.

However, factors such as infrastructure dependency and fears over dearth of privacy and data protection are predicted to counter the growth in the global market for hybrid cloud computing. A noticeable trend in the market is the soaring popularity of SaaS and IaaS service model. This is because many SaaS vendors provide applications as a service to the end users and focus on the hybrid cloud management software.

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Geography-wise, the key segments of the global hybrid cloud computing market are Asia Pacific, North America, Eastern Europe, Western Europe, Latin America, and the Middle East and Africa. Among them, North America leads the global market with maximum share. This is mainly because entities in the U.S. have been frontrunners in adopting latest technologies to gain a competitive edge. In the years ahead, however, Asia Pacific is forecasted to gain the most on account of a fast-paced expansion in its market. Large enterprises in the region are increasingly leveraging hybrid cloud solutions to operate better and slash costs.

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