Hybrid Cloud Market - Trends and Opportunities for the Industry by 2024

Hybrid cloud is an infrastructure that uses a combination of on premise storage and private/public cloud storage to enable data and application portability. Hybrid cloud solutions take advantage of the scalability and cost optimization offered by the public cloud technology. The private cloud could be deployed on premise or outside the organization’s data center.

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The organizations are connected to cloud through safe network technologies such as virtual private network (VPN) or secure hypertext transfer protocol (HTTP). Virtual private network (VPN) is a network technology that enables the end-user to create a secure network connection over a public network such as internet. HTTP is an application layer protocol that enables the end-user to transfer hypertext data such as graphics, video and sound.

Hybrid cloud solutions enables the implementing organizations in increasing their business agility, data scalability and reducing their costs for data storage. Hybrid cloud solutions are expected to foresee high adoption rate as they could be easily integrated with the existing systems. Hybrid solutions enable the businesses to maintain its critical operations under their supervision and thus enhance the security & integrity of data. Development of big data technology and growth in internet of things (IoT) are expected to create immense opportunities for hybrid cloud market. However, huge initial investment is required for deployment of hybrid cloud solutions, which is anticipated to curtail growth of the market. Furthermore, hybrid cloud solutions are still in development phase, therefore security and privacy concerns could arise. This is expected to provide hurdles in the growth of hybrid cloud market.

Hybrid cloud market could be broadly segmented on the basis of service model, application, organization size, end-use sector and geography. On the basis of service model, the global hybrid cloud market is further segmented into platform as a service (PaaS), software as a service (SaaS) and infrastructure as a service (IaaS). On the basis of application, the hybrid cloud market could be segmented into orchestration, cloud hosting, cloud security and disaster recovery.

On the basis of organization size, the hybrid cloud market could be segmented into small & medium-sized enterprises (SMEs) and large sized organizations. Furthermore, on the basis of end-use sector, the hybrid cloud market could be segmented into government, health care, BFSI, retail, logistics, IT & telecommunication and manufacturing sector. In terms of geography, the global hybrid cloud market is further segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America region. Hybrid cloud market shows its strong presence in North America region due to rising needs of business automation, orchestration and compliances in the region. APAC region is expected to witness fastest growth rate of hybrid cloud market due to growing digitalization in the sectors such as government, BFSI and health care.

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The major participants in the hybrid cloud market includes VMware Inc., Amazon Web Services Inc., Microsoft Corporation, Rackspace Inc., EMC Corporation, Hewlett Packard Enterprise Development LP, IBM Corporation, Cisco Systems Inc., Dell Inc. and Oracle Corporation.

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