The global hybrid cloud market in the COVID-19 period has been estimated to value USD 63,658.0 million in 2021 and it is projected to reach USD 6, 67,916.4 million by 2030 at a CAGR of 29.8% during the forecast period. Growing adoption of digital services along with increasing demand for cost effective, agile, and scalable computing will drive the hybrid cloud market.
The digital transformation is a key factor boosting the demand for cloud computing services. With the advantages offered by the hybrid cloud, major players are adopting the hybrid cloud platforms to fulfill their current business requirements in alignment with digital transformation. Small scale industries are also working towards modernizing their IT infrastructure, which will further enhance the market growth. However, lack of skills and poor security practices can hamper the market growth during the forecast period.
The changing customer behavior has boosted the growth of digitalization. This has compelled organizations to adapt to the digital environment. Also, in order to fulfill business requirements quickly, various organizations have started adopting new technologies like the internet of things (IoT), big data, machine learning, and others. This in result has amplified the critical workloads and increased the demand for greater computational power which is augmenting the growth of hybrid cloud market. The on-going improvements in IT infrastructure in developing countries will further enhance the market growth. Also, the COVID-19 pandemic made the key players invest in cloud services to improve technical infrastructure for long-term growth.
This research report categorizes the market for hybrid cloud based on various segments and region and forecasts revenue growth and analysis of trends in each of the submarkets. The report analyses the key growth drivers, opportunities and challenges which influence the hybrid cloud market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger and acquisition have been included in order to draw the competitive landscape in the hybrid cloud market. The report strategically identifies and profiles the key market players and analyses their core competencies in each segment such as source and application of the hybrid cloud market.
Based on component, the market is segmented into solution and services. The solution segment is expected to hold the largest share in the global hybrid cloud market during the forecast period. The growth of this segment will be driven by greater flexibility offered by hybrid cloud to move critical workloads between cloud solutions. Furthermore, solutions provide cost-effective approach. This will prompt large as well as small enterprises to adopt hybrid cloud solutions, which is expected to drive market growth.
Based on the service model, the market is segmented into software as a service (SaaS), Infrastructure as a service (IaaS) and platform as a service (PaaS). The Software as a service (SaaS) segment is accounted to have the largest share in global hybrid cloud market during the forecast period. In business environment, SaaS is an intriguing alternative to standard software installation. This is due to various benefits offered by SaaS including it reduces time in configuration and installation, low cost, scalable & integration, easy to use and smooth migration. These factors will thus boost the demand of SaaS and hence drive the market growth.
Based on the organization size, the market is segmented into large enterprises and small & medium enterprises. The large enterprises segment is accounted to have the largest share in global hybrid cloud market during the forecast period. Due to the adoption of work from home models amid the COVID-19 pandemic, which has resulted in a higher and faster adoption rate of hybrid cloud solutions by large enterprises will drive the market growth. Furthermore, small & medium enterprises segment will also grow rapidly in order to meet government regulations and growing digitalization during the forecast period.
Based on the vertical, the market is segmented into IT & telecom, healthcare, BFSI, retail, government, media & entertainment, transportation & logistics, manufacturing and others. The BFSI segment is accounted to have the largest share in global hybrid cloud market during the forecast period. The BFSI vertical is witnessing prominent growth in the market due to the growing need to store sensitive financial information. In this digital age, BFSI companies are making significant adoption of digital tools, which has presented need for effectively separate data loads and transfer relevant part to public cloud.
Based on region, the market has been segmented as North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the world. North America is expected to be the largest region in the hybrid cloud market during the forecast period. However, Asia Pacific is expected to be the fastest growing region during the forecast period. The market in North America is dominating due to the rapid convergence of machine learning solutions with big data, the Internet of Things (IoT), and other emerging technologies. Furthermore, some of the top companies providing hybrid cloud solutions have a large presence in the region, which is expected to generate high revenue in the North American region during the forecast period.
The digital transformation is a key factor boosting the demand for cloud computing services. With the advantages offered by the hybrid cloud, major players are adopting the hybrid cloud platforms to fulfill their current business requirements in alignment with digital transformation. Small scale industries are also working towards modernizing their IT infrastructure, which will further enhance the market growth. However, lack of skills and poor security practices can hamper the market growth during the forecast period.
The changing customer behavior has boosted the growth of digitalization. This has compelled organizations to adapt to the digital environment. Also, in order to fulfill business requirements quickly, various organizations have started adopting new technologies like the internet of things (IoT), big data, machine learning, and others. This in result has amplified the critical workloads and increased the demand for greater computational power which is augmenting the growth of hybrid cloud market. The on-going improvements in IT infrastructure in developing countries will further enhance the market growth. Also, the COVID-19 pandemic made the key players invest in cloud services to improve technical infrastructure for long-term growth.
This research report categorizes the market for hybrid cloud based on various segments and region and forecasts revenue growth and analysis of trends in each of the submarkets. The report analyses the key growth drivers, opportunities and challenges which influence the hybrid cloud market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger and acquisition have been included in order to draw the competitive landscape in the hybrid cloud market. The report strategically identifies and profiles the key market players and analyses their core competencies in each segment such as source and application of the hybrid cloud market.
Based on component, the market is segmented into solution and services. The solution segment is expected to hold the largest share in the global hybrid cloud market during the forecast period. The growth of this segment will be driven by greater flexibility offered by hybrid cloud to move critical workloads between cloud solutions. Furthermore, solutions provide cost-effective approach. This will prompt large as well as small enterprises to adopt hybrid cloud solutions, which is expected to drive market growth.
Based on the service model, the market is segmented into software as a service (SaaS), Infrastructure as a service (IaaS) and platform as a service (PaaS). The Software as a service (SaaS) segment is accounted to have the largest share in global hybrid cloud market during the forecast period. In business environment, SaaS is an intriguing alternative to standard software installation. This is due to various benefits offered by SaaS including it reduces time in configuration and installation, low cost, scalable & integration, easy to use and smooth migration. These factors will thus boost the demand of SaaS and hence drive the market growth.
Based on the organization size, the market is segmented into large enterprises and small & medium enterprises. The large enterprises segment is accounted to have the largest share in global hybrid cloud market during the forecast period. Due to the adoption of work from home models amid the COVID-19 pandemic, which has resulted in a higher and faster adoption rate of hybrid cloud solutions by large enterprises will drive the market growth. Furthermore, small & medium enterprises segment will also grow rapidly in order to meet government regulations and growing digitalization during the forecast period.
Based on the vertical, the market is segmented into IT & telecom, healthcare, BFSI, retail, government, media & entertainment, transportation & logistics, manufacturing and others. The BFSI segment is accounted to have the largest share in global hybrid cloud market during the forecast period. The BFSI vertical is witnessing prominent growth in the market due to the growing need to store sensitive financial information. In this digital age, BFSI companies are making significant adoption of digital tools, which has presented need for effectively separate data loads and transfer relevant part to public cloud.
Based on region, the market has been segmented as North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the world. North America is expected to be the largest region in the hybrid cloud market during the forecast period. However, Asia Pacific is expected to be the fastest growing region during the forecast period. The market in North America is dominating due to the rapid convergence of machine learning solutions with big data, the Internet of Things (IoT), and other emerging technologies. Furthermore, some of the top companies providing hybrid cloud solutions have a large presence in the region, which is expected to generate high revenue in the North American region during the forecast period.
WHAT THIS STUDY PROVIDES
- Global market and submarket forecast covering the period of 2018 to 2030, with accompanying analysis
- Extensive details and analysis of contracts, projects, and programs
- Analysis of game-changing technological trends and how these will shape the industry
- Explanation or political, regulatory and technical factors to consider
- Barriers to entry analysis for markets around the world
- Profiles of leading companies operating within the sector with market share analysis
- SWOT analysis of the major strengths and weaknesses of the market, together with the opportunities available and the key threats faced
- Market conclusions & recommendations
KEY QUESTIONS ANSWERED BY THIS REPORT
- How the hybrid cloud market is evolving?
- What is driving and restraining factors for global hybrid cloud market?
- How will each hybrid cloud submarket segment grow over the forecast period and how much sales will these submarkets account for in 2030?
- How will market shares of each hybrid cloud submarket develop from 2021-2030?
- Which hybrid cloud submarket will be the main driver of the overall market from 2021-2030?
- How will political and regulatory factors influence regional hybrid cloud markets and submarkets?
- Will leading national hybrid cloud broadly follow macroeconomic dynamics, or will individual country sectors outperform the rest of the economy?
- How will market shares of the national markets change by 2030 and which nation will lead the market in 2030?
- Who are the leading players and what are their prospects over the forecast period?
- How will the sector evolve as alliances form during the period between 2018 and 2030?
Frequently Asked Questions about the Hybrid Cloud Market
What is the estimated value of the Hybrid Cloud Market?
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| Report Attribute | Details |
|---|---|
| No. of Pages | 158 |
| Published | September 2021 |
| Forecast Period | 2018 - 2030 |
| Estimated Market Value ( USD | $ 47214.1 Million |
| Forecasted Market Value ( USD | $ 667916.4 Million |
| Compound Annual Growth Rate | 24.7% |
| Regions Covered | Global |
Table of Contents
1. Market Abstract
2. Market Introduction
3. Research Practice
4. Key Related Data
5. Impact Factor Analysis
6. Market Development Analysis
7. Hybrid Cloud Market, by Component
8. Hybrid Cloud Market, by Service Model
9. Hybrid Cloud Market, by Organization Size
10. Hybrid Cloud Market, by Vertical
List of Tables
List of Figures
Companies Mentioned
A selection of companies mentioned in this report includes:
- Ibm Corporation
- Microsoft Corporation
- Cisco Systems Inc.
- Amazon Inc.
- Dell Technologies
- Google LLC.
- Vmware Inc.
- Alibaba Group
- Hewlett Packard Enterprise
- Rackspace Technologies Inc.
- Citrix Systems Inc.
