ID: MRFR/ICT/0512-CR | February 2020 | Region: Global | 177 pages
Market Research Future (MRFR) expects the Global Hybrid Cloud Market size to reach USD 173.33 Billion with a CAGR of 22.25% from 2019–2025 (forecast period). Hybrid cloud benefits companies by extending their existing on-premises infrastructure, which helps to handle excess data. For basic and non-sensitive computing tasks, companies achieve the agility of the public cloud while keeping critical data and applications on-premises safely secured through a company firewall. Hybrid cloud is very valuable in variable workload environments with complex workloads, big data processing, and temporary processing.
COVID-19 Impact on the Global Hybrid Cloud Market
COVID-19 is spreading all over the world. In March 2020, governments across the globe declared coronavirus as a pandemic that had a major effect on industries worldwide. The pandemic resulted in partial or full lockdowns and shutdowns of all industries except essential goods and services. Owing to the rapid spread of the virus around the globe, the governments have taken precautionary steps, such as orders for people to stay at home during the COVID-19 pandemic. Cloud computing technology plays a critical role here. Hybrid cloud refers to the storage, hybrid computing, and service environment that consists of public cloud services, on-premises infrastructure, and private cloud. The hybrid infrastructure uses on-premises infrastructure, private cloud, and public cloud in the data centers of the organization. During the COVID-19 pandemic, digital platforms are emerging as crucial due to employees and their families using various digital solutions. Companies also made it easier for the majority of employees to work from home, as cloud technology allows employees in accessing systems and applications from home. The hybrid environment ensures that the cloud works as effectively and seamlessly as the on-premises environment.
Hybrid cloud helps businesses scale up their existing on-premises infrastructure, which helps handle excess data. The key driver of the growth of the hybrid cloud market is the growing demand for agile, scalable, and cost-effective computing. The Hybrid Cloud helps to resolve problems facing companies that are difficult to tackle through traditional IT infrastructure. It helps bridge the gap between the company and IT by improving agility & efficiency as well as providing IT resources at a lower cost. The hybrid cloud also helps to ensure the security of critical business information.
IT companies and other businesses are expected to assure the stability of underlying systems that sustain operating processes and essential activities to operate and sustain during the COVID-19 pandemic, which has presented a short-term challenge to businesses; however, in the long term, it is expected that companies will be able to adopt a remote working policy to avoid the spread of the virus. As a result, cloud technology is rapidly being used during the COVID-19 pandemic.
Increasing demand for agile, scalable, and cost-efficient computing
Enterprises are using a hybrid cloud model to address business challenges that are difficult to address with conventional IT infrastructure. Hybrid cloud bridges the gap between IT and the company by enhancing agility and performance, as well as quickly providing low-cost IT resources. It empowers companies to broaden their applications and infrastructure as required and provides users with high-speed performance and high availability. Hybrid cloud provides economies of scale while at the same time ensuring security to the sensitive information of businesses. As the availability of secure, scalable, and cost-effective resources can give organizations more opportunities to pursue various operational avenues. It would drive the adoption of the hybrid cloud environment among organizations.
North America to hold the largest share
North America captured the largest market share of 35% in 2018, with a market value of USD 15.90 billion; the market is projected to register a CAGR of 23.81% over the forecast period.
The rapid growth in the adoption of hybrid cloud services has intensified the competitiveness of the hybrid cloud industry. Key players in the hybrid cloud industry are experiencing frequent developments and upgrading their offerings in order to offer best-in-class solutions based on changing market needs. The competition between key players such as Amazon Web Services, Microsoft Corporation, and IBM Corporation is strong due to continuous advances in cloud computing technology and high demand for cloud computing.
The Key Players in the Global Hybrid Cloud Market are Equinix, Inc. (US), NTT Communications Corporation (Japan), Rackspace (US), Hewlett Packard Enterprise Development LP (US), Amazon.com Inc. (US), VMware Inc. (US), IBM Corporation (US), Oracle Corporation (US), Cisco Systems, Inc. (US), Google LLC (US), and Microsoft Corporation (US).
September 2019: VMware announced an extended alliance with Oracle Corporation to improve the hybrid cloud strategies of their customers. The alliance allows users to run VMware Cloud workloads on Oracle Cloud Infrastructure.
August 2019: Equinix collaborated with VMware Inc. to accelerate the enterprise hybrid cloud transformations. The collaboration enables both companies to develop solutions to help companies drive hybrid cloud transformations based on VMware Cloud on Dell EMC within Equinix’s International Business Exchange (IBX) data centers.
This study examines vital factors, constraints, and challenges in the global hybrid cloud market, regional and segment revenue estimates, and evaluations. The base year is 2019; the projection period is 2019-2025. The segmentation of the market is described in the following manner.
By Organization Size
By Service Type
By Service Model
Frequently Asked Questions (FAQ) :
The global hybrid cloud market generated revenue of USD 44.87 Billion in 2018.
The global hybrid cloud market is projected to acquire a market valuation of USD 173.33 billion by 2025.
The global hybrid cloud market is expected to record a CAGR of 22.25% during the review period (2019–2025).
Increasing need to avoid vendor lock-in, and growing demand for agile, scalable, and cost-efficient computing are the major driving factors for the hybrid cloud market growth.
the lack of technical expertise is one of the impeding factors for the growth of the hybrid cloud market.
The North American region is expected to acquire the largest market share at a 23.81% CAGR.
The Asia Pacific hybrid cloud market is expanding at a 29.11% CAGR over the review period.
A few significant players of the hybrid cloud market are tech giants such as Google LLC (US), IBM Corporation (US), Oracle Corporation (US), Cisco Systems, Inc. (US), and Microsoft Corporation (US).