Global Hybrid Cloud Market was valued US$ 37 Bn in 2019 and is expected to reach US$ 102 Bn by 2027, at a CAGR of 13.51 % during forecast period.
Hybrid cloud is a computing environment which is a combination of a public and a private cloud. It works by enabling the sharing between data and applications. Generally, hybrid cloud is used to work on application level and infrastructure level. On the infrastructure layer, a hybrid cloud is formed by the grouping of virtual machines from different cloud services. In case of application layer, hybrid cloud is formed with mechanisms in existing applications or different Software as a Service offerings in the data center of an enterprise.
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Major factors which are expected to drive the growth of the hybrid cloud market include growing demand from association for active, scalable, and cost-efficient computing, increasing need of standards for interoperability between cloud services and existing systems, rising demand to avoid vendor lock-in, and rising number of digital services and their applications. Rising need for more computational power and increasing implementation rate of the hybrid cloud are predictable to open new opportunities for the hybrid cloud market.
Demand for hybrid cloud is growing as associations are deploying the hybrid cloud solution to overcome difficulties occurring in the traditional Information Technology (IT) environment. Also, the hybrid cloud solution offers several benefits, like the reduced Total Cost of Ownership (TCO), flexibility, high security, agility, and improved economies of scale.
Hybrid hosting is offering different benefits, like access by a single point of contact, sharing network infrastructure, monitoring, delivering, and managing hosting services. It is offering associations the ability to integrate co-location, dedicated servers, and virtualized environments to build a hybrid hosting environment. Also, it enables associations to host their interoperable applications and workloads on the most suitable hosting platform, based on their expectations and need.
Hybrid cloud is beneficial for businesses to scale their existing on-premises infrastructure which supports in handling excess data. For basic and non-sensitive computing tasks, enterprises gain the activeness of public cloud, where keeping the vital data and applications on-premises safely secured by a company firewall. Hybrid cloud is highly appreciated in variable workload environments with dynamic workloads, big data processing, and temporary processing. In May 2018, Red Hat, the world’s prominent provider of open source solutions partnered with Microsoft and IBM for establishment of their multi-cloud ranges. Joint platform is allowing enterprise developers to run container-based applications across Microsoft Azure and on-premises.
North America is holding the largest market share, and expected to continue during forecast period, due to increased cloud enablement activities and increasing trends in the cloud marketplace. Regulations, like Health Insurance Portability and Accountability Act, Payment Card Industry Data Security Standard, govern the North American industrial environment. These kind of factors will eventually boost the demand for hybrid cloud, because of advantages, like cloud governance, security, and compliance. U.S and Canada are projected to contribute significantly to the growth of the hybrid cloud market in North America. APAC is estimated to offer prospective growth opportunities to the hybrid cloud market during the forecast period.
Scope of Global Hybrid Cloud Market:
Global Hybrid Cloud Market by Component:
Global Hybrid Cloud Market by Service Model:
• Software as a service (SaaS)
• Infrastructure as a service (IaaS)
• Platform as a service (PaaS)
Global Hybrid Cloud Market by Organization Size:
• Large enterprises
• Small and medium enterprises
Global Hybrid Cloud Market by Industry Vertical:
• IT & Telecom
• Media & entertainment
• Transportation & Logistics
Global Hybrid Cloud Market by Region:
• North America
• Latin America
• Middle East & Africa
Key Players Operated in Global Hybrid Cloud Market:
• Microsoft Corporation
• Amazon Web Services, Inc.
• VMware, Inc.
• Rackspace Inc.
• Hewlett Packard Enterprise
• Dell EMC
• IBM Corporation (International Business Machines)
• Google LLC
• Verizon Enterprise
• Cisco Systems, Inc.
• Micro Focus
• NTT Communications
• Pure Storage
• Unitas Global
• Quest Software
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