The Hybrid Cloud Market is expected to grow from USD 44.60 billion in 2018 to USD 97.64 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 17.0% during the forecast period, owing to the existing market offerings and the increasing focus on pricing and promotions.
Solution segment to hold a larger market size in the hybrid cloud market during the forecast period
The hybrid cloud solution helps organizations in overcoming complexities arising out of traditional IT environments. Moreover, it provides various advantages, including reduced Total Cost of Ownership (TCO), high security, flexibility, agility, and improved economies of scale. Among components, the solution segment is expected to have a larger market size, as the hybrid cloud solution manages both private and public cloud with the help of a single platform.
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Disaster recovery segment to grow at the highest CAGR in the hybrid cloud market during the forecast period
Disaster recovery assists enterprises in protecting their technology resources and ensuring they can quickly recover from events causing significant interruption in business operations. It protects mission-critical data from any man-made or natural disaster. The disaster recovery strategy comprises four important parts, namely, business continuity and continuous availability, backup and recovery, real-time replication, and data archiving. Under service types, the disaster recovery segment is expected to grow at the highest CAGR, owing to the rising demand for business continuity and data backup.
Major players in the hybrid cloud market include IBM (US), Microsoft (US), Cisco Systems (US), AWS (US), Oracle (US), Google (US), VMware (US), Alibaba (China), Equinix (US), Rackspace (US), NetApp (US), Atos (US), Fujitsu (Japan), CenturyLink (Louisiana), HPE (US), DXC (US), RightScale (US), Micro Focus (US), NTT Communications (Japan), Dell EMC (US), Citrix (US), Pure Storage (US), Unitas Global (US), and Quest Software (US). These players have adopted various growth strategies, such as new product launches, mergers and acquisitions, partnerships, collaborations, and business expansions, to expand their footprint in the hybrid cloud market.
In the hybrid cloud market, Microsoft is a leading provider of hybrid cloud solutions. The company’s cloud business benefits from 3 economies of scale which are larger data centers that deploy computational resources at significantly low cost per unit than the smaller data centers; larger data centers that coordinate and aggregate diverse customer, geographic, and application demand patterns, improving the utilization of computing, storage, and network resources; and multitenancy locations that reduce application maintenance labor costs. The hybrid infrastructure offered by the company includes identity, data, compute, management, and security capabilities. These capabilities help support the evolving regulatory requirements of commercial customers and enterprise-focused Software-as-a-Service (SaaS) partners. The company focuses more on inorganic growth strategies to offer enhanced services capabilities to customers for cloud storage. In May 2018, Microsoft and Red Hat expanded their alliance for container-based applications across Microsoft Azure. With this partnership, these companies would introduce the first jointly managed OpenShift offering in the public cloud, combining the power of Red Hat’s OpenShift platform and Microsoft’s public cloud services, Azure.
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AWS provides cloud products, which offer robust features and functionalities to customers with continuous upgradations. The company has developed a broad set of hybrid capabilities across storage, networking, security, application deployment, and management tools. These tools enable easy integration of cloud and secure extension of the existing infrastructure. AWS has implemented various organic growth strategies to strengthen its foothold in the hybrid cloud market. It constantly upgrades its offerings and works on providing new services to customers to stay competitive in the hybrid cloud market. In November 2016, AWS launched 2 new hybrid services AWS Greengrass and AWS Snowball Edge to help customers extend the AWS Cloud to connected devices. In December 2017, AWS established a strategic technology partnership with Ningxia Western Cloud Data Technology to expand infrastructure footprint in China.
The hybrid cloud market research report analyzes the global adoption trends, growth potentials, key drivers, vendor portfolio analysis, restraints, and opportunities in the market.
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