Hybrid Cloud Market 2020: Global Industry Expected To Expand Annually At 21.7% For The Next Seven Years

Increasing need for more computational power among organizations and growing awareness about the benefits of hybrid cloud drive the growth of the global hybrid cloud market. However, lurking concerns about data privacy and security hamper the market growth. On the other hand, rapid increase in adoption of hybrid cloud among small- and large-sized companies and augmented demand among various organizations to boost its IT service management capabilities without the addition of servers are expected to create lucrative opportunities for the market players in near future.

Among industrial verticals, the global hybrid cloud market report is analyzed across IT & Telecom, healthcare, BFSI, retail, government, media & entertainment, transportation & logistics, manufacturing, and other sectors. In 2017, the BFSI segment was the largest contributor, holding about one-third share of the market and would continue to retain its dominant position during the forecast period. However, the healthcare segment is expected to manifest the fastest CAGR of 27.9% during the forecast period, as concerns regarding security, cost, and complexity have considerably increased among healthcare organizations.

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The global hybrid cloud market was pegged at $36.14 billion in 2017 and is estimated to reach $171.93 billion by 2025, registering a CAGR of 21.7% from 2018 to 2025.

North America contributed about half share of the market in 2017, owing to the increasing number of cloud-based service providers in the region. However, Asia-Pacific region would grow at the fastest CAGR of 25.3% during the study period, owing to rise in usage of cloud-based services and growth in deployment of data centers in the developing countries such as India and China. In addition, the hybrid cloud market in Europe is expected to grow gradually from 2018 to 2025.

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The key market players analyzed in the report include Microsoft Corporation, VMware, Inc., Hewlett Packard Enterprise, Dell EMC, Google LLC, Cisco Systems, Inc., Amazon Web Services, Inc., Rackspace Inc., IBM Corporation (International Business Machines), and Verizon Enterprise. These market players have adopted various strategies such as partnerships, collaboration, mergers & acquisitions, and new product launch to maintain their leading position in the industry.

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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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