Hybrid Cloud Market to Witness Double Digit CAGR by 2024

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Global Hybrid Cloud Market: Overview

The hybrid cloud offers features of both public and private cloud computing services to the organization that provides flexibility to perform distinct functions within the same organization. Hybrid hosting is a configuration of hybrid cloud, it possesses various benefits such as cost efficiency, security, scalability, and flexibility. The combination of public and private cloud computing services is deployed for security and to achieve large spaces. Small and big enterprises use hybrid cloud deployment model to reduce their capital expenditures, enjoy disaster recovery, and enhance efficiency, storage, and backup.

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Global Hybrid Cloud Market: Growth Factors

The key advantage of installing hybrid cloud is that it provides flexibility of switching between the clouds and other economies in order to achieve a competitive edge over other companies, this is anticipated to drive the market. Hybrid cloud holds the ability to use multiple features of private and public cloud which leads to the reduction of cost of deployment, which positively enhances the market growth. Hybrid cloud is gaining popularity, thus it is widely adopted in the small and big size enterprises, which may fuel the hybrid cloud market in the near future. Due to the implementation of hybrid cloud the organizational productivity has improved thus expecting to augment the market. It does not require constant internet connectivity thus can be easily deployed in the small organizations. However, major concerns regarding privacy & security and data compliance issues are hindering the global hybrid cloud market to some extent.

Global Hybrid Cloud Market: Segmentation

The hybrid cloud market is segmented on the basis of verticals, delivery model, and type. Based on verticals, the market is fragmented into consumer goods and retail, government and public sector, media and entertainment, banking financial services and insurance, healthcare and life sciences, research and consulting services, telecommunication, information technology, and others. The delivery model is categorized into the platform as a service, infrastructure as a service, and software as a service. Depending on type segment, the hybrid cloud market is segregated into hybrid cloud software, hybrid cloud service, and hybrid cloud hardware.

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Global Hybrid Cloud Market: Regional Analysis

The largest share of the hybrid cloud market is held by the North America; the growth in this region is mainly attributed to the presence of world’s leading technology companies, growing automation demand from industrial & business sector, and easy access to hybrid cloud networks. Asia Pacific is following the same trend, thus it will experience fast growth in the near future due to the rapid adoption of digitization among various industrial and business sectors.

Global Hybrid Cloud Market: Competitive Players

Companies involved in the global hybrid cloud market include VM Ware, Amazon Web Services, Citrix Systems, Eucalyptus, Microsoft Corporation, Ice Web, Cumulogic, and Cisco Systems. Other players involved in the market are IBM Corp., Hewlett-Packard, EMC, RightScale, Datadirect Networks, Rackspace, Oracle, Atlantic. Net, Cloudcontrol, and Dell.

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