Hybrid Cloud Market Growth Opportunities, Top Key Players Such as Microsoft Corporation, Amazon Web Services, Inc., VMware, Inc., Rackspace Inc., Hewlett Packard Enterprise, Dell EMC, International Business Machines Corporation (IBM), Google LLC, Verizon

The increased preference towards hybrid cloud, growth in digital disruptions, rise in adoption of hybrid cloud in IT service management (ITSM) models, and surge in demand for scalable, agile, and cost-efficient cloud computing solutions are the factors driving the industry growth. Nonetheless, workload complexities in the hybrid cloud environment and security issues are expected to hamper the market growth. On the other hand, high adoption of hybrid cloud among small and medium organizations and emergence of hybrid IT services are likely to present lucrative opportunities for the market growth.

Based on component, the solution segment dominated the global hybrid cloud market in 2017 and is expected to continue this trend during the forecast period owing to the growing demand for hybrid cloud solutions, as large number of companies are expected to commit to multi-cloud architectures, both public and private, and other solutions from different providers. Furthermore, the services segment is expected to grow at the highest CAGR during the forecast period, as it provides a cost-effective way of allowing easy access to the organizations and ensuring more secure operations.

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A report on “Hybrid Cloud Market by Component, Service Model, Organization Size, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018 – 2025” published by Allied Market Research states that the global hybrid cloud market is expected to accrue a sum of $171,926 million by 2025 from $36,138 million in 2017, attaining a CAGR of 21.7% during the forecast period, 2018 - 2025.

In 2017, the BFSI segment was the highest contributor to the global hybrid cloud market and is projected to maintain its dominance during the forecast period. However, the healthcare segment is expected to witness the highest growth, as the adoption of hybrid cloud has become essential for healthcare organizations due to concerns regarding security, cost, and complexity.

Services segment to grow the fastest

The services segment is estimated to register the fastest CAGR of 23.1% during the forecast period, owing to the rise in adoption of hybrid cloud services on account of their cost-effectiveness and ease of access. However, the solutions segment held the largest market share, contributing about two-thirds of the total revenue, owing to the increasing inclination of companies toward building multi-cloud architectures.

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Major service models of the industry

Based on service model, the global hybrid cloud market report is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). SaaS segment held the largest market share, contributing about 61% of the total revenue, owing to the increasing adoption of SaaS among organizations that seek complex software and hardware management. However, IaaS segment is expected to register the fastest CAGR of 26.1% through 2025, owing to various benefits such as enhanced performance, improved productivity, flexible computing capabilities, and increased delivery speed. In addition, the PaaS segment is expected to grow at a steady rate during the forecast period.

Large enterprises segment offers lucrative opportunities

In 2017, the small & medium enterprises segment was the largest contributor to the global hybrid cloud market in terms of revenue, holding more than two-thirds share. Moreover, the segment is expected to portray the fastest CAGR of 22.5% during the study period. On the other hand, the large enterprises segment is estimated to manifest gradual growth through 2025.

Key Findings of the Hybrid Cloud Market:

•By component, the services segment is expected to exhibit significant growth in the global hybrid cloud market during the forecast period.
•In 2017, the small and medium enterprises segment accounted for the highest revenue in the organization size category.
•Based on service model, the software as a service (SaaS) segment generated the highest revenue in 2017.
•Based on industry vertical, the BFSI segment generated the highest revenue in 2017.
•Based on region, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.

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Some of the key market players profiled in the report include Microsoft Corporation, Amazon Web Services, Inc., VMware, Inc., Rackspace Inc., Hewlett Packard Enterprise, Dell EMC, International Business Machines Corporation (IBM), Google LLC, Verizon Enterprise, Cisco Systems, Inc., and others.

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