What Factors Propelled The Growth Of The Hybrid Cloud Market In The Past?
The hybrid cloud market has seen considerable growth due to a variety of factors.
• There's been swift growth in the market size of the hybrid cloud in the past few years. The market is projected to expand from a value of $112.42 billion in 2024 to $128.64 billion in 2025, indicating a compound annual growth rate (CAGR) of 14.4%. Factors such as complicated application demands, the necessity for business agility and adaptability, safety issues, integrating legacy infrastructure, as well as cost-effective strategies explain the growth observed in the historic period.
What Are the Future Growth Projections for the Hybrid Cloud Market By 2029?
The Hybrid Cloud market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the growth of the hybrid cloud market in the upcoming years, foreshadowing an expansion to $259.13 billion by 2029 with an impressive compound annual growth rate (CAGR) of 19.1%.
This growth during the projected period can be related to factors such as an increased adoption of cloud technology, digital transformation, concerns related to data security, the expansion of remote workforces, management of multi-cloud systems, and the widening scope of AI and analytics. The forecast period also suggests noticeable trends such as a focus on business continuity and disaster recovery, the incorporation of AI and analytics, integration of edge computing, implementation of cost-optimization strategies, management of multi-cloud systems, and the empowerment of remote workforces.
What Are The Core Factors Supporting Growth In The Hybrid Cloud Market?
The escalating adoption rate of cloud services is projected to spur the growth of the hybrid cloud market in the future. Cloud services encompass a broad spectrum of on-demand services provided to customers and businesses through the internet. A hybrid cloud merges on-site infrastructure with public and private cloud services, providing enterprises the advantage of private cloud security along with the economical operation, scalability, security, and control offered by public cloud services. The hybrid cloud is experiencing growing demand due to these features and the benefits of cloud services. To illustrate, as per the European Commission, a Belgium-based governmental entity, in April 2024, it was found that in 2023, 77.6% of large enterprises reported using cloud computing services, marking a 6-percentage point rise since 2021. Mid-sized companies saw their cloud service adoption elevate to 59% in 2023, from 53% in 2021. Concurrently, small businesses reported a growth of 3.8 percentage points in their usage, attaining a rate of 41.7% in the same timeline. Consequently, the escalating adoption of cloud services is fueling the expansion of the hybrid cloud market.
What Are The Major Segments Within The Global Hybrid Cloud Market?
The hybrid cloud market covered in this report is segmented –
1) By Component: Solution, Services
2) By Workload: Storage, Backup And Disaster Recovery, Application Development And Testing, Database Management, Business Analytics, Integration And Orchestration, Customer Relationship Management, Enterprise Resource Management, Cloud Collaboration And Content Management, Other Workloads
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises
4) By End-User Industry: Government And Public Sector, Healthcare, Banking, Finance, Services, And Insurance (BFSI), Retail, Information And Communication Technology, Media And Entertainment, Other End-User Industries
Subsegments:
1) By Solution: Cloud Management Solutions, Integration Solutions, Security Solutions, Backup And Disaster Recovery Solutions, Application Development And Deployment Solutions
2) By Services: Cloud Consulting Services, Cloud Migration Services, Managed Services, Support And Maintenance Services, Training And Education Services
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Which Trends Are Expected To Transform The Hybrid Cloud Market?
The rise of technological innovations is a prominent trend in the hybrid cloud market, with leading companies developing high-tech solutions to heighten efficiency and maintain their market position. For example, Flexential, an IT service management company from the U.S, introduced New Hybrid IT Options on its National FlexAnywhere Platform along with a Cloud Solution Expansion this October 2022 at the Gartner IT Symposium/Xpo. This modern platform enables Flexential's clients to broaden their application and workload reach beyond their on-site data centers. The integration of hybrid cloud deployments on Flexential's nationwide FlexAnywhere platform reduces the necessity for organizations to handle underlying infrastructure, whilst ensuring top-notch application performance.
Who Are the Key Players In The Hybrid Cloud Market?
Major companies operating in the hybrid cloud market include:
• Amazon Inc.
• Fujitsu Ltd.
• Oracle Corporation
• Cisco Systems Inc.
• Citrix Systems Inc.
• Dell Technologies Inc.
• DXC Technology Company
• Alibaba Group Holding Limited
• Google LLC
• Hewlett Packard Enterprise Company
• International Business Machines Corporation
• Microsoft Corporation
• Equinix Inc.
• Rackspace Technology Inc.
• VMware Inc.
• Panzura Inc.
• Lumen Technologies Inc.
• NetApp Inc.
• Atos SE
• Red Hat Inc.
• Nutanix Inc.
• Lenovo Group Limited
• Juniper Networks Inc.
• DigitalOcean LLC
• Zerto Corporation
• NTT Data Corporation
• Hitachi Vantara Corporation
• InterVision Systems LLC
• Scale Computing Inc.
• Stratoscale Inc.
• Morpheus Data LLC
• Joyent Inc.
• DataCore Software Corporation
• Virtuozzo International GmbH
What Is The Most Dominant Region In The Hybrid Cloud Market?
North America was the largest region in the hybrid cloud market in 2024. Asia-Pacific is expected to be the fastest-growing region in the hybrid cloud market during the forecast period. The regions covered in the hybrid cloud market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
