USD 65.48 Billion
Report ID:
SQMIG45A2216 |
Region:
Global |
Published Date: February, 2024
Pages:
197
|
Tables:
149 |
Figures:
79
Global Hybrid Cloud Market size was valued at USD 65.48 Billion in 2021 and is poised to grow from USD 73.25 Billion in 2022 to USD 179.71 Billion by 2030, growing at a CAGR of 11.87% in the forecast period (2023-2030).
The growth of the global hybrid cloud market is propelled by several key drivers. Chief among these is the widespread adoption of digital transformation strategies across businesses, the escalating use of internet and mobile devices globally, and the surging consumption of Big Data. The evolution of next-generation industrial solutions is poised to heavily rely on cloud enablement, mandating the need for robust cloud platforms to showcase their digital business capabilities. Moreover, the increasing adoption of Internet of Things (IoT), the advent of 5G technology, the rise of edge computing, and the integration of real-time analytics driven by Machine Learning (ML) and Artificial Intelligence (AI) are expected to further elevate the intrinsic value of computing technology among businesses, cementing the pivotal role of cloud solutions in enabling these transformative technologies.
The surge in cloud and industrialized services, coupled with the downturn of traditional data center outsourcing (DCO), signals a substantial transition towards hybrid infrastructure services. In contrast, the conventional DCO sector is dwindling, with expenditure shifting towards colocation, hosting, and the rise of infrastructure utility services. This trend is anticipated to propel the move towards cloud IaaS (Infrastructure as a Service) and hosting. With its manifold advantages, the adoption of hybrid cloud deployment continues to claim a progressively larger portion of the hybrid cloud market.
Global Market Size
USD 65.48 Billion
Largest Segment
Services
Growth Rate
11.87% CAGR
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The global Hybrid Cloud market is segmented into six segments i.e. by Component, Service, Service Model, Organization Size, Vertical and Region. Based on Component, the market is segmented into Solution, Services. Based on Service, the market is segmented into Cloud management and orchestration, Disaster recovery, Hybrid hosting. Based on Service Model, the market is segmented into Infrastructure-as-a-Service, Platform-as-a-Service, Software-as-a-Service. Based on Organization Size, the market is segmented into Large enterprises, Small and medium-sized enterprises. Based on Vertical, the market is segmented into BFSI, IT and Telecommunications, Healthcare, Retail, Media and entertainment, Manufacturing, Government, Transportation, Others (travel and hospitality, and education). Based on Regional the market is segmented as, North America, Europe, Asia Pacific, Latin America
Analysis by Component
The solution segment emerged as the top revenue contributor in 2021, with a notable surge in interest surrounding the adoption of cloud-native hybrid cloud management solutions, fueling substantial growth within this segment. These solutions are witnessing heightened traction due to their capacity to seamlessly integrate public and private cloud infrastructure, aligning with the evolving preferences of businesses.
The services segment plays a pivotal role within the global hybrid cloud market, encompassing a spectrum of offerings essential for effectively implementing, managing, and optimizing cloud solutions. This segment comprises pivotal services such as consulting, integration, migration, managed services, and support, each playing a critical role in ensuring the seamless operation and success of cloud initiatives.
Analysis by Service
The segment dedicated to cloud management and orchestration emerged as the leader in revenue generation. This dominance stems from the intricate nature of overseeing various cloud platforms, often resulting in complex IT procedures and sluggish operational processes. The challenges associated with managing disparate cloud systems underscore the critical role played by effective management and orchestration solutions. However, the integration of effective hybrid tools has proven instrumental in addressing these challenges. These tools enable dynamic scaling of resources in response to real-time demands and historical usage patterns.
The disaster recovery (DR) segment stands for delivering vital safeguards and contingency plans for safeguarding critical data and operations. At the core of this segment lies Disaster Recovery as a Service (DRaaS), a pivotal offering designed to ensure uninterrupted business continuity. DRaaS operates by duplicating and securely storing data across diverse cloud environments, spanning both private and public clouds.
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North America is projected to wield a substantial stake in the hybrid cloud market. Numerous companies across the region are transcending the confines of solely relying on the public cloud. Instead, they are embarking on a transformative phase embracing hybrid IT services, amalgamating public, private, and traditional IT infrastructure. This strategic shift signifies a pivotal move for these organizations, showcasing their adoption of hybrid cloud strategies. Such initiatives have proven instrumental in enhancing their overall business capabilities and enabling the seamless delivery of services to their customer base.
Asia Pacific is anticipated to exhibit the highest CAGR in the hybrid cloud market. Hybrid cloud deployment has emerged as the go-to solution for organizations spanning various regions. Several pivotal factors are poised to propel the growth of this market further. These include the presence of a highly dynamic business landscape, a rising trend in adopting multiple cloud services to drive cost savings, and an increasingly crucial need to enhance productivity and efficiency through centralized cloud governance.
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Drivers
Growing Demand for Agile, Scalable, and Cost-Efficient Computing
Restraints
Lack of Awareness about Privacy and Data Protection
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The global Hybrid Cloud Market operates within a dynamic and competitive landscape, featuring a diverse mix of established industry leaders, emerging contenders, and specialized producers. Innovation stands as a pivotal competitive factor within this environment. Dominant brands actively allocate resources towards research and development endeavors, continually introducing novel flavors, innovative packaging formats, and health-conscious variations to align with evolving consumer preferences. These industry frontrunners frequently serve as trendsetters, setting the pace and dictating the trajectory of market trends through their pioneering approaches, thereby influencing the wider industry landscape.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. The hybrid cloud market has seen substantial growth compared to other cloud services in recent years. It provides distinct advantages to organizations dealing with extensive datasets and fluctuating processing demands. Employing a hybrid cloud empowers companies to dynamically scale their computing resources, effectively eradicating the necessity for significant capital investment to manage abrupt surges in demand. This flexibility enables businesses to reallocate local resources for more sensitive data or applications, optimizing their operations accordingly.
Report Metric | Details |
---|---|
Market size value in 2021 | USD 65.48 Billion |
Market size value in 2030 | USD 179.71 Billion |
Growth Rate | 11.87% |
Base year | 2023 |
Forecast period | 2023-2030 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Hybrid Cloud Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hybrid Cloud Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Hybrid Cloud Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Hybrid Cloud Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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