Hybrid Cloud Market Research Report- Forecast till 2023
According to Market Research Future (MRFR), the global hybrid cloud market had a market value of USD 44.87 billion in 2018 and is projected to reach USD 173.33 billion with a CAGR of 22.25% from 2019 to 2025 (forecast period). The report includes a complete overview of the global situation, the economic condition, and COVID-19 analysis of the overall industry.
A hybrid cloud is a computing environment made up of both a public and a private cloud. It works by enabling data and applications to be shared between them. In addition, the hybrid cloud operates primarily at the application and infrastructure level. On the infrastructure layer, a hybrid cloud is developed by a combination of virtual machines from a variety of cloud services. In the case of an application layer, a hybrid cloud is developed with components in existing applications or different SaaS offerings within the company’s data center.
Hybrid cloud supports companies by extending their existing on-premises infrastructure, which helps to handle excess data. For basic and non-sensitive computing activities, companies achieve the agility of the public cloud while maintaining essential data and applications on-premises safely secured through a company firewall. Hybrid cloud is very useful in variable workload environments with complex workloads, massive data processing, and temporary processing.
Increasing need to avoid vendor lock-in and increasing demand for agile, flexible, and cost-effective computing are the important drivers for this market’s growth. There is an increasing emphasis among organizations worldwide on avoiding vendor lock-in by opting to different service models like multi-cloud and hybrid cloud. Disaster recovery in the event of security breaches in databases stored on the cloud is one of the critical features that caused companies to move to a hybrid cloud service model. Hybrid clouds have allowed organizations to maintain control of their data, offering flexibility and power of choice, thus significantly lowering the issues related to vendor lock-in. Organizations tend to maintain the mission-critical applications on-premises while reaping the processing advantages and capabilities of public clouds for non-critical applications. The advantages provided by hybrid cloud service models in terms of avoiding vendor lock-in are anticipated to propel the development of the global hybrid cloud market during the assessment period. Nevertheless, the lack of technical expertise is one of the main limiting factors for the development of the hybrid cloud industry.
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The global market for hybrid cloud has been segmented on the basis of component, organization size, service type, service model, and vertical.
On the basis of components, the global hybrid cloud market has been segmented into solutions and services. The services segment has been further categorized as managed services and professional services.
On the basis of organization size, the global hybrid cloud market has been segmented into large enterprises and small and medium enterprises.
Based on service type, the global hybrid cloud market has been segmented into hybrid hosting, disaster recovery, and cloud management and orchestration.
On the basis of the service model, the global hybrid cloud market has been segmented into platform as a service, software as a service, and infrastructure as a service.
On the basis of vertical, the global hybrid cloud market has been segmented into BSFI, IT & telecom, retail, manufacturing, media and entertainment, healthcare, transportation, and others.
By region, the global hybrid cloud market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America had the largest market share of 35% in 2018, with a market valuation of USD 15.90 billion; the market is projected to have a 23.81% CAGR over the assessment period.
Asia Pacific is set to achieve the highest CAGR of 29.11% during the forecast period 2019-2025.
The key participants in the global hybrid cloud market are Equinix, Inc. (US), Amazon.com Inc. (US), IBM Corporation (US), NTT Communications Corporation (Japan), Google LLC (US), Hewlett Packard Enterprise Development LP (US), VMware Inc. (US), Oracle Corporation (US), Rackspace (US), Cisco Systems, Inc. (US), and Microsoft Corporation (US).
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Hybrid Cloud Market Research Report: By Component (Solution and Services), Organization Size (SMEs, Large Enterprises), Service Type (Hybrid Hosting, Cloud Management, and Orchestration and Disaster Recovery), Service Model (Infrastructure-as-a-Service, Software-as-a-Service, Platform-as-a-Service), Vertical (BFSI, IT & Telecommunication, Retail, Manufacturing, Media & Entertainment, Healthcare, Transportation) and Region (North America, South America, Europe, Asia- Pacific and Middle East and Africa) – Forecast till 2025
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