The global hybrid cloud market reached a value of US$ 85.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 262.4 Billion by 2027, exhibiting a CAGR of 19.63% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A hybrid cloud refers to a cloud-computing environment that combines on-premises, private, public and third-party cloud services. It enables the movement of workloads between public and private platforms to unify, automate and manage a computing environment. The hybrid cloud architecture generally utilizes three types of service models namely Infrastructure as a Service, Platform as a Service and Software as a Service. It also utilizes a private cloud that is either on-premises or hosted by a third-party cloud provider and a stable wide area network (WAN) connectivity between the environments. It offers various benefits, such as comprehensive support for the remote workforce, minimized costs of operations and improved scalability, control, security and risk management. As a result, it finds extensive applications across various industries, such as banking, financial services and insurance (BFSI), information technology (IT), healthcare, government and public sector, retail and manufacturing.
Hybrid Cloud Market Trends:
Rapid digitization, along with the widespread adoption of cloud-computing services, is one of the key factors driving the growth of the market. Moreover, the growing demand for agile, scalable and cost-effective computing systems is also augmenting the market growth. Hybrid clouds enable organizations to maintain control over data and provide enhanced scalability of operations. Apart from this, due to the sudden outbreak of the COVID-19 pandemic across the globe, enterprises are adopting remote work and video conferencing tools, thereby increasing the demand for hybrid cloud systems for business continuity. Various technological advancements, such as the integration of artificial intelligence (AI), the Internet of Things (IoT), machine learning (ML) and edge computing, are also contributing to the market growth. Other factors, including increasing adoption of Software-as-a-Service (SaaS) and multi-cloud spaces, along with improvements in the IT infrastructure, are expected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hybrid cloud market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, service, service type, service model, organization size and vertical.
Breakup by Component:
Breakup by Service:
Breakup by Service Type:
Cloud Management and Orchestration
Breakup by Service Model:
Infrastructure as a Service
Platform as a Service
Software as a Service
Breakup by Organization Size:
Breakup by Vertical:
Government and Public Sector
Banking, Finance, Services and Insurance (BFSI)
Information and Communication Technology
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Alibaba Group Holding Limited, Amazon Inc., Century Link Inc., Cisco Systems Inc., Citrix Systems Inc., Dell Technologies Inc., DXC Technology Company, Fujitsu Ltd. (Furukawa Group), Google (Alphabet Inc.), Hewlett Packard Enterprise Company, IBM Corporation, Microsoft Corporation, Oracle Corporation, Rackspace Inc. and VMWare Inc.
Key Questions Answered in This Report
1. What is the expected growth rate of the global hybrid cloud market?
2. What has been the impact of COVID-19 on the global hybrid cloud market?
3. What are the key factors driving the global hybrid cloud market?
4. What is the breakup of the global hybrid cloud market based on the component?
5. What is the breakup of the global hybrid cloud market based on the service type?
6. What is the breakup of the global hybrid cloud market based on the service model?
7. What are the key regions in the global hybrid cloud market?
8. Who are the key players/companies in the global hybrid cloud market?