Hybrid Cloud Market size is set to grow by USD 245.30 billion from 2024-2028, Disaster recovery simplified by hybrid cloud to boost the market growth, Technavio

NEW YORK, July 9, 2024 /PRNewswire/ -- The hybrid cloud market refers to the integration of private and public cloud environments, allowing organizations to leverage the benefits of both. According to Technavio, the market is expected to grow significantly, driven by simplified disaster recovery solutions and the adoption of container technology. However, challenges such as network connectivity issues and latency need to be addressed. Key players driving this market include Accenture Plc, Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Dell Technologies Inc., and others, who are instrumental in shaping its rapid expansion.

Get a detailed analysis on regions, market segments, customer landscape, and companies - Click for the snapshot of this report

Key Market Trends Fueling Growth

Hybrid cloud deployments are becoming increasingly popular as organizations seek a consistent application development environment. Containers and microservices are emerging as effective alternatives to virtual machines, which consume significant resources. Containers, like virtual machines, have dedicated CPU and memory, but they share the operating system kernel. This eliminates the need for a guest operating system or hypervisor, making containers lighter than virtual machines. Organizations often face challenges moving applications between different environments. Containers address this issue by bundling the applications and all their operating system dependencies into a single package. This facilitates the easy transfer of applications between various cloud platforms, making container and microservice architecture a suitable solution for hybrid cloud environments. Moreover, containers offer increased application performance visibility, agility, and cost savings that are challenging to achieve with virtualization technologies. Additionally, container and microservice architecture allows for rapid scaling across different environments, which is crucial for businesses looking to expand. Consequently, many organizations are adopting Kubernetes to leverage the benefits of containers in hybrid cloud services. Therefore, the adoption of container technology is expected to accelerate the growth of the hybrid cloud market during the forecast period. 

Hybrid Cloud is a hot trend in IT spending as more businesses adopt this model for their non-critical applications. Legacy technologies are being transformed through Hybrid Cloud solutions, enabling transactions without the need for physical presence at bank branches. Remote working systems and online documentation have become essential, leading to increased demand for cost-effective and efficient Hybrid Cloud infrastructure. Hybrids offer flexibility and automation for IT services, enhancing productivity for customers. Public Cloud solutions continue to innovate with tablets and Hybrid Cloud Mesh, while Hybrid Multicloud infrastructure ensures observability and scalability. Cost efficiency, agility, security, and business-IT collaboration are key benefits for enterprises of all sizes and verticals, including Telecommunications, Healthcare, and Finance. Hybrid Cloud enables digital transformation through enhanced analytics, data protection, and customized service types and models. Traditional cloud models are being replaced with this flexible and secure solution. Organizations can now reduce costs, increase efficiency, and improve their overall IT infrastructure while ensuring data protection and security. 

Discover 360° analysis of this market. For complete information, schedule your consultation- Book Here!

Market Challenges

• A hybrid cloud setup combines the benefits of on-premises and public cloud environments. However, ensuring seamless connectivity between the two can present challenges. One option is using the Internet for data transfer, which comes with security risks and unguaranteed connection speeds, leading to potential latency issues. Another choice is a VPN connection, which offers encryption for security but doesn't eliminate latency and is costlier than the Internet. Lastly, a direct connection to a public cloud provider via a private network offers optimal performance and security but can be expensive for many organizations. These connectivity choices impact the hybrid cloud market's growth, as businesses weigh the benefits and costs.
• Hybrid cloud is a popular solution for organizations seeking to optimize IT infrastructure while addressing challenges of cost efficiency, scalability, and agility. Businesses of all sizes, from telecommunications and healthcare to enterprises in verticals like banking, face unique needs. Security is a top concern, especially for data protection. Hybrid cloud offers a mix of public and private cloud services, allowing organizations to leverage the benefits of each. Cost-effective hybrid hosting solutions enable businesses to save capital by utilizing public cloud for non-critical workloads and private cloud for sensitive data. Service models like IaaS, PaaS, and SaaS cater to various organization sizes and industries. Regions and public bodies also benefit from hybrid cloud's flexibility in managing cyclical demand and emergency needs. Hybrid cloud deployment involves consolidating IT operations, improving management, and ensuring data security. Hyperscale clouds and data center modernization play a significant role in this evolution. Traditional data centers, colocation, and hosting solutions are being replaced by cloud infrastructure. Dynamic regulatory requirements and virtual services are driving the hybrid cloud market, making it an essential industrial service for organizations.

For more insights on driver and challenges - Download a Sample Report

Segment Overview 

This hybrid cloud market report extensively covers market segmentation by

1. Component 
• 1.1 Services
• 1.2 Solution
2. End-user 
• 2.1 BFSI
• 2.2 Retail
• 2.3 Healthcare
• 2.4 Telecom
• 2.5 Others
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Services-  The Hybrid Cloud market refers to the use of both private and public clouds by businesses to store and manage their data. This approach offers flexibility, cost savings, and enhanced security. Companies can leverage public clouds for scalability and cost efficiency while keeping sensitive data in private clouds. Hybrid Cloud solutions enable seamless data transfer between clouds, ensuring business continuity and compliance with data protection regulations.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 - 2022)  - Download a Sample Report

Research Analysis

The Hybrid Cloud market is a dynamic and evolving technology landscape that offers businesses the benefits of both private and public cloud solutions. With cost efficiency, businesses can save on IT infrastructure expenses while still maintaining control over their critical data and applications. Scalability is another key advantage, allowing businesses to easily adapt to cyclical demand and emergency needs. Agility is also a significant factor, enabling businesses to quickly respond to dynamic regulatory requirements and market changes. Telecommunications, healthcare, enterprises, public bodies, and the banking sector are among the industries increasingly adopting Hybrid Cloud solutions. Security is a top priority, with data protection being a major concern. Components include virtual services, management tools, and IT infrastructure. Service types range from Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). Legacy technologies and digitization are driving the shift towards Hybrid Cloud, with many businesses seeking to modernize their IT spending and enable remote working. The banking sector, in particular, is embracing Hybrid Cloud for critical banking processes and non-critical transactions without compromising security. The future of Hybrid Cloud lies in its ability to provide flexibility, efficiency, and security while enabling business-IT collaboration and addressing the unique needs of various industries.

Market Research Overview

Hybrid cloud is a computing solution that combines the benefits of public and private clouds, allowing organizations to achieve cost efficiency, scalability, agility, and business-IT collaboration. Telecommunications, healthcare, enterprises, and various verticals are adopting hybrid cloud for its flexibility in managing IT infrastructure and data protection. Hybrid cloud deployment models include colocation, infrastructure utility, and cloud infrastructure. Service types range from IaaS, PaaS, and SaaS, while service models offer traditional, industrial, and Hyperscale cloud solutions. Organization size, verticals, and regions influence the hybrid cloud market, with public bodies and enterprises driving significant growth. Hybrid cloud enables consolidated operation and management, enhancing productivity and digital transformation. Dynamic regulatory requirements and emergency needs further boost the demand for hybrid cloud solutions. Hybrid cloud mesh and hybrid multicloud infrastructure offer automation, observability, and flexibility for sensitive business processes. Cost reduction, efficiency, and innovation are key drivers for customers in their adoption of hybrid cloud services. Traditional IT spending shifts towards cloud computing, with on-premises infrastructure and legacy technologies being replaced by virtual services and digitization. The banking sector leverages hybrid cloud for critical banking processes and non-critical applications, enabling remote working systems, online documentation, and transactions without interruption. Hybrid cloud solutions offer enhanced analytics and productivity, with tablets and virtual services becoming essential tools for businesses in various industries.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Component
• Services
• Solution
• End-user
• BFSI
• Retail
• Healthcare
• Telecom
• Others
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED