Hybrid Cloud Market Will Register at a CAGR of 16.4% by 2030, Component, End-user Industry, Workloads, Organization Size, Vertical, Region, and Competitive Landscape

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. 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.

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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 prominent players in the Hybrid Cloud market are

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.

Hybrid Cloud Market 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.

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Scope of the Report:

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, the hybrid cloud market is segmented into:

Services

Cloud Management and Orchestration
Disaster Recovery
Hybrid Hosting

Solutions

Based on the service model, the hybrid cloud market is segmented into:

Software as a Service (SaaS)
Infrastructure as a Service (IaaS)
Platform as a Service (PaaS)

Based on the end-user industry, the hybrid cloud market is segmented into:

Government and Public Sector
Healthcare
Banking, Finance, Services, and Insurance (BFSI)
Retail
Information and Communication Technology
Media and Entertainment
Others

Based on the workloads, the hybrid cloud market is segmented into:

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, the hybrid cloud market is segmented into:

Small and medium-sized enterprises
Large enterprises

Based on vertical, the hybrid cloud market is segmented into:

BFSI
IT & Telecom
Retail
Healthcare
Media & Entertainment
Government
Manufacturing
Transportation & Logistics
Others

Based on region, the hybrid cloud market is segmented into:

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

U.S.
Canada
Mexico

Europe

Germany
U.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
U.A.E.
Saudi Arabia
Oman
Qatar
Iran
Egypt
Rest of Middle East and Africa

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.

Delvens Industry Expert's Standpoint

The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. The hybrid cloud platform has grown in popularity because it not only offers flexibility, scalability and multi-cloud mode, but also guarantees data security to organizations. In addition, the move to hybrid clouds makes information and service integrity a key priority for organizations. That's why it's important to get the right mix of on-premises and multi-service offerings to ensure continuous availability of data that can be coordinated across multiple platforms. In addition, according to the study, IT managers spend 56% of their time on maintenance and operations and 24% on technology development. Additionally, they spend 20% of their time working with business leaders on digital transformation initiatives, which is extremely time-consuming and expensive. Hence the inclination of organizations to the hybrid cloud. These factors have led to the expansion of the market and increased demand for Hybrid Cloud solutions.

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