The Global Hybrid Cloud Market size was valued at USD 83.42 Billion in 2022 and is expected to surpass USD 342.72 Billion by 2031, expanding at a CAGR of 17% during the forecast period, 2023 – 2031. A hybrid cloud is a cloud solution that combines private and public clouds to execute different purposes inside the same business. It provides various advantages including cost-effectiveness and scalability, adaptability, and security. Owing to the versatility and dynamic nature of work, hybrid cloud is widely applied across various industries and several enterprises are increasingly shifting toward a hybrid cloud.
The platform offers numerous applications such as accomplish data, application, and huge storage space security while reducing capital expenditure by deploying a hybrid of the private and public cloud models. This cloud platform normally do not require continual internet connectivity but it ensures secure, scalable, and cost-effective use of resources that can give organizations more chances to explore alternative operational paths.
Market Trends, Drivers, Restraints, and Opportunities
Improvement in IT infrastructure as well as wide usage of multi-cloud spaces such as SaaS are major drivers, expected to drive the market growth.
Ability to use different functionalities of private and public clouds along with lower deployment costs is a fundamental driver of the market.
Wide adoption of the platform among small & medium-sized enterprises to enhance their business operation and effective functionality of operation units present vital factors boosting the market.
High cost of using cloud platform along with issues concerning about privacy violation and misuse of data act as major challenges. This is projected to hamper the market growth in the coming years.
Growing demand for interoperability standards between cloud services and existing computational power systems is a key aspect expected to offer several growth opportunities of the market.
Scope of Hybrid Cloud Market Report
The report on the global hybrid cloud market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Hybrid Cloud Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Components (Services and Solutions [Hardware and Software]), Service Models (Platform-as-a-Service, Infrastructure-as-a-Service, and Software-as-a-Service), Organization Sizes (Small & Medium-sized Enterprises and Large Enterprises), Service Types (Hybrid Hosting, Cloud Management & Orchestration, and Disaster Recovery), Verticals (Healthcare, IT & Telecommunications, BFSI, Transportation, Retail, Government, Media & Entertainment, Manufacturing, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
IBM; Microsoft; Cisco Systems; AWS; Oracle; Google; VMware; Rackspace; NetApp; Atos; Fujitsu; Alibaba; CenturyLink; HPE; Equinix; DXC; NTT Communications; Flexera; Cofluent, Inc.; Micro Focus; Dell EMC; Citrix; Pure Storage; Unitas Global; and Quest Software
Hybrid Cloud Market Segment Insights
Service segment is projected to expand at a rapid pace
Based on components, the hybrid cloud market is divided into services and solutions. The solution segment is further bifurcated into hardware and software. The service segment is projected to expand at rapid pace during the forecast period owing to wide availability of various advanced cloud service platforms.
Moreover, the public cloud service providers are offering data storage and computing resources more affordable and available to organisations on a large scale, which is fueling the segment expansion. However, the solutions sector is expected to register large market share due to its high flexibility, better scalability, cheap cost, and secure deployment options.
The hybrid cloud adoption has become a critical component of the business process among organizations, which is projected to grow the segment in the coming years.
Infrastructure-as-a-Service segment to account for a substantial share
On the basis of service models, the market is segmented into platform-as-a-service (PaaS), infrastructure-as-a-service (IaaS), and software-as-a-service (SaaS). The IaaS segment is anticipated is projected to account for a substantial share during the projected period owing to rising demand for the service model as it assists in shifting workloads from on-premises systems to the cloud.
Organizations can improve their performance, speed up delivery, increase productivity, and provide flexible computing capabilities in both public and private cloud environments. This benefit aids in allocating resources to more critical company tasks.
Large enterprises segment to hold a significant market share
In terms of organization sizes, the hybrid cloud market is bifurcated into small & medium-sized enterprises (SMEs) and large enterprises.
The large enterprises segment is projected to hold a significant market share due to several benefits such as easy disaster recovery, storage, and backup using the hybrid cloud approach along with increased efficiency and lower expenses. The small & medium-sized enterprises segment is anticipated to expand at a rapid pace due to the availability of secure, scalable, and cost-effective resource operations along with reducing capital expenses to SMEs.
Hybrid hosting segment to register a high CAGR
Based on service types, the market is segregated into hybrid hosting, cloud management & orchestration, and disaster recovery.
The hybrid hosting segment is expected to register a high CAGR during the forecast period due to several advantages including easy access through a single point of contact, network infrastructure sharing, and monitoring, delivery, and management of hosting services. Companies are improving their ability to combine co-location, dedicated servers, and virtualized environments to create a hybrid hosting environment.
IT and Telecommunications segment to expand at a fast rate
On the basis of verticals, the hybrid cloud market is segmented into healthcare, IT & telecommunications, BFSI, transportation, retail, government, media & entertainment, manufacturing, and others.
The IT and telecommunications segment is expected to expand at a fast growth rate owing to improvements in IT infrastructure as well as increased usage of multi-cloud spaces and SaaS. Many IT firms are majorly concerned about the reducing operation cost, which leads to shifting to the cloud platforms. The capacity to automatically adjust to changes in demand is a critical factor in both innovation and competition and thus, driving the segment growth.
North America is estimated to dominate the market
In terms of regions, the market is categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.
North America is estimated to dominate the market in the coming years as the cloud deployment has emerged as the most appropriate choice for majority of enterprises in the region. Moreover, the presence of dynamic corporate environment, increased use of different cloud services for cost savings, and unavoidable requirement to attain higher productivity are key drivers of the segment.
Factor such as efficiency through centralized cloud governance and favorable government policies are some primary reasons that are anticipated to accelerate the segment expansion further.
By Service Models
By Organization Sizes
- Small & Medium-sized Enterprises
- Large Enterprises
By Service Types
- Hybrid Hosting
- Cloud Management & Orchestration
- Disaster recovery
- IT and Telecommunications
- Media & entertainment
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
By Key Players
- Cisco Systems
- NTT Communications
- Cofluent, Inc.
- Micro Focus
- Dell EMC
- Pure Storage
- Unitas Global
- Quest Software
Key players in the global hybrid cloud market are IBM; Microsoft; Cisco Systems; AWS; Oracle; Google; VMware; Rackspace; NetApp; Atos; Fujitsu; Alibaba; CenturyLink; HPE; Equinix; DXC; NTT Communications; Flexera; Cofluent, Inc.; Micro Focus; Dell EMC; Citrix; Pure Storage; Unitas Global; and Quest Software.
These players are constantly engaged in various market development activities including collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.