Hybrid Cloud Market 2022 Status, Players, Segments Growth, Regional analysis and Forecast to 2030 | Leading Players: IBM Corporation, Microsoft Corporation, Cisco Corporation, Amazon Inc, Dell Technologies, Google LLC

Global Hybrid Cloud Market is Expected to Grow at a CAGR of 29.8% from 2021 to 2030

The global hybrid cloud market in the COVID-19 period has been estimated to value USD 63,658.0 million in 2021 and is anticipated to grow at a CAGR of 29.8% during the forecast period. Digital transformation is becoming a new trend in IT infrastructure. Various organizations are moving towards digital businesses and hence adopting hybrid cloud model for innovation to accommodate varying and complex workloads. Digital services also assist company to speed up, automate, and improve business through new forms of technologies like big data, internet of things (IOT), artificial intelligence, machine learning and others. Thus, for robust digital transformation networks, hybrid cloud provides compatible and scalable computing services. These factors are expected to drive the growth of hybrid cloud market during the forecast period.

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Various corporations are now taking climate change thoughtfully and prioritizing sustainability in their business schemes. This has resulted to the growth of cloud computing which is thus contributing to low energy consumption through cloud platform as large data centers consume a lot of energy. Thus, adoption of sustainable practices is a key industry trend driving the market growth.
Hybrid IT services technology is an approach to business computing in which an organization offers and manages some information technology resources in-house but utilizes cloud-based services for others. Hybrid IT is a combination of external and internal services usually of internal and public clouds. Hybrid IT comprises services like cloud migration, cloud consulting, automation, container as a service, managed services, and others. Thus, innovative cloud technologies will continue to increase the adoption of hybrid cloud in the coming years.

Some Significant Market Developments Considered in the Report:

• January 2021 - Citrix confirmed buying enterprise-focused work management platform Wrike in around USD 2250.0 Million. This project management platform was sold to businesses to monitor and track projects, workflows, and deadlines through a software-as-a-service (SaaS) model.

• December 2019 - AWS launched AWS outposts, which vertically integrates across the layers of this framework by providing a hybrid cloud solution that brings AWS infrastructure, security, services, APIs, management tools, support, and operating model to data centers, co-location spaces, or on-premises facilities.

• August 2019 - VMware launched the evolutionary hybrid cloud platform, allowing enterprises to migrate and modernize applications across data center, clouds, and edge locations.

Global Hybrid Cloud Market, by Component

Based on component, the market is bifurcated into solution and services. The services segment has witnessed the fastest growth in the market during the projected period. Adoption of hybrid cloud services amongst organizations has become a crucial part of the business procedure due to the high flexibility, improved scalability, reduced price, and secured deployment alternatives. These factors are expected to drive segment growth during the forecast period.

Global Hybrid Cloud Market, by Service Model

Based on the service model, the market is segmented into software as a service (SaaS), Infrastructure as a service (IaaS) and platform as a service (PaaS). The infrastructure as a service (IaaS) segment is accounted to be the fastest growing segment in global hybrid cloud market during the forecast period.

IaaS helps to create easily scalable and cost-effective procedures for IT solutions. It is used due to its advantages such as low infrastructure cost, ability to run even if the server goes down, and features like quick maintenance and setup of storage and servers. Organizations can enhance their performance, improve delivery speed, increase productivity, and offer flexible computing capacities, in private and public cloud environments. All these factors are expected to contribute to the market growth.

Global Hybrid Cloud Market, by Organization Size

Based on the organization size, the market is bifurcated into large enterprises and small & medium enterprises. The small & medium enterprises segment is expected to be the fastest growing segment in the market during the forecast period.

Adoption of work from home models during the COVID-19 pandemic has resulted in a high and fast adoption rate of hybrid cloud solutions by small & medium enterprises. The most crucial reason for utilizing hybrid cloud solutions in medium-sized enterprises is their dynamic scalability. A new sales and production location, for example, can more smoothly integrate into the enterprise resource planning system (ERP), and new end-users can access the ERP system flexibly and quickly via the cloud. Thus, these factors are estimated to augment market growth during the forecast period.

Global Hybrid Cloud Market, by Vertical
Based on the vertical, the market is segmented into IT & telecom, healthcare, BFSI, retail, government, media & entertainment, transportation & logistics, manufacturing and others. The BFSI segment is expected to be the fastest segment in the market during the forecast period.

Due to growing need of storing sensitive financial information, BFSI is witnessing prominent growth in the market. In this digital era, BFSI companies using public cloud resources can remarkably grow their infrastructure at no remarkable price. All of this can be done while safekeeping the important data on-premise to satisfying compliance needs. Furthermore, hybrid cloud can assist with securing important data with disaster recovery system. These factors will boost the market growth during the analysis period.

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Global Hybrid Cloud Market, by Region

Based on region, the market has been segmented as North America, Asia Pacific, Western Europe, Eastern Europe, Middle East and Rest of the World. Asia Pacific is expected to be the fastest growing region during the forecast period.

The market in Asia Pacific is growing due to massive use of cloud services and data centers and increasing trend of large establishments incorporating public and private operations for hybrid cloud computing. Also, with increasing partnership of domestic companies with top sellers, the Asia Pacific is estimated to grow at a remarkable rate during the forecast period.

Some Major Findings of the Hybrid Cloud Market Report Include:

• Major global market trend and forecasts analysis along with a country-specific market analysis for up to 25 countries

• An in-depth global hybrid cloud market analysis by the aforementioned segments, along with an analysis of trend-based insights and factors

• Profiles of major market players operating in the global hybrid cloud market, which include IBM Corporation, Microsoft Corporation, Cisco Corporation, Amazon Inc, Dell Technologies, Google LLC, VMware Inc, Alibaba Group, Hewlett Packard Enterprise, Rackspace Technologies Inc, and Citrix Systems, Inc.

• Competitive benchmarking, product offering details, and growth strategies adopted by the leading market players, along with their major investments in the last five years

• Key impact factor analysis across regions that includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global hybrid cloud market

• Impact of COVID-19 on the global hybrid cloud market

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This release was published on openPR.