The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The Hybrid Cloud Market was valued at USD 45.70 billion in 2019?and is expected to reach USD 128.01 billion by 2025, at a CAGR of 18.73% over the forecast period 2020?- 2025. The growth of cloud and industrialized services and the decline of traditional data center outsourcing (DCO) indicate a massive shift toward hybrid infrastructure services. While the traditional DCO market is shrinking, spending on collocation and hosting along with the increase in infrastructure utility services. This is expected to drive the shift toward cloud IaaS and hosting. Owing to its benefits, the hybrid cloud deployment is occupying a continuously increasing share in the cloud market.
- The hybrid cloud market has experienced significant overall growth in the past few years compared to that of the other cloud services, as it offers certain benefits that the organizations with a huge set of data and need of processing demand for.
- Using a hybrid cloud allows companies to scale computing resources and also helps in eliminating the need to invest a massive capital for handling short-term spikes in demand, also in cases when the business needs to free up local resources for more sensitive data or applications.
- Companies using cloud services are required to pay only for resources that they temporarily use instead of purchasing, programming, and maintaining additional resources and equipment that remains idle over long periods of time. This helps the companies in minimizing costs that do not generate revenue.
Scope of the Report
Hybrid cloud is a cloud computing environment that practices a mix of on-premises, private cloud and third-party, public cloud services with instrumentation between the two platforms. By permitting workloads to move between private and public clouds as computing needs and costs change, hybrid cloud provides businesses greater flexibility and more data deployment options.
Key Market Trends
Alternative Way of Accessing Software with Eased Scalability
- Software-as-a-Service (SaaS) refers to an alternative way of accessing software instead of traditional methods of access where the service provider delivers software and applications through the internet, and the end users subscribe to the software and access it via the web or vendor APIs.
- SaaS refers to a subscription-based model in which the software is hosted in the cloud and accessed through the internet. Accounting, tracking sales, performance monitoring, and communications (such as webmail and messaging amongst others) are the typical examples of SaaS usage by the enterprises. Applications will be updated and can be used online while the files will save in the cloud itself instead of on the individual machines.
- Using SaaS, the customers can access new functionalities much faster with lower upfront costs compared to traditional on-premise solutions. SaaS-based applications can be accessed through the internet. They require proper integration with on-premise systems or other clouds.
- The significant benefits of SaaS include no hardware costs, no initial set up costs, paying for only what the customer uses, scalable usage, automatic updates, cross-device compatibility, and accessibility from any location. The users neither manage nor control the cloud infrastructure, which includes networks, servers, operating systems, storage, and individual application capabilities.
North America Holds a Prominent Share in the Hybrid Cloud Market
- North America is expected to hold a prominent share in the hybrid cloud market. Many companies in the region are moving beyond the public cloud and are stepping into a new era of hybrid IT that combines public cloud, private cloud, and traditional IT. These organizations have implemented a hybrid cloud strategy as it is aiding them to improve their business and deliver services to the customers.
- Vendors are also encouraging the hybrid model in a number of ways. For instance, VMware Inc. and IBM announced new offerings to accelerate enterprise hybrid cloud adoption. The offerings include new IBM services offering to help migrate and extend mission-critical VMware workloads to the IBM Cloud, and new integrations to help enterprises modernize applications with Kubernetes and containers.
- Another company that embraced the hybrid cloud environment is HudsonAlpha, one of the leading players in genomic research. Many of the organization’s researchers have been given government grant money to test new treatment theories. Because of these grants, they can quickly test ideas in a public cloud without taking resources away from the more accepted research methodologies that rely on its private cloud.
The hybrid cloud market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. The companies operating in the market are also acquiring start-ups working on hybrid cloud technologies to strengthen their product capabilities.
- February 2019 - Microsoft announced the general availability of Azure Data Lake Storage (ADLS) Gen2. Azure is now the only cloud provider to offer a no-compromise cloud storage solution that is fast, secure, massively scalable, cost-effective, and fully capable of running the most demanding production workloads.
July 2018 - Citrix Systems Inc. announced a partnership with Microsoft Corporation to provide Citrix SD-WAN solution to Microsoft Azure Virtual WAN service. This partnership is expected to develop enhanced user experience, consistent productivity, and automate the branch-office network deployments.
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