According to the latest research report by IMARC group, titled “Hybrid Cloud Market Share: Global Size, Growth, Demand, Industry Trends and Forecast 2023-2028”, The global hybrid cloud market size reached US$ 104.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 312.6 Billion by 2028, exhibiting a growth rate (CAGR) of 19.1% during 2023-2028.
Hybrid Cloud Market Definition and Application:
A hybrid cloud refers to an integrated cloud computing environment that combines on-premises, private, public, and third-party cloud services.It enables the proper movement of workloads between platforms to unify, manage, and automate the computing services. It provides numerous advantages, such as comprehensive support for the remote workforce, minimum operational cost, and enhanced scalability, control, security, and risk management. Consequently, it finds extensive application across different industries, such as healthcare, information technology (IT), and banking, financial services, and insurance (BFSI).
Report Metric
Historical: 2017-2022
Base Year: 2022
Forecast Year: 2023-2028
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Hybrid Cloud Market Trends and Drivers:
Rapid urbanization and digitization, along with the widespread adoption of cloud-computing services, represent one of the prime factors driving the market. Moreover, theescalating demand for scalable, agile, and cost-effective computing systems to transfer secured communication is bolstering the market growth. Furthermore, due to the sudden outbreak of coronavirus disease (COVID-19), organizations across the globe are adopting remote workingmodels and video conferencing facilities, which, in turn, ispositively influencing the demand for hybrid cloud systems to maintain business continuity. Moreover, the rising adoption of software-as-a-service (SaaS) and multi-cloud spaces, along with improvements in the IT infrastructure, is projected to impel the market growth.
Competitive Landscape Key Player:
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. VMWare Inc.
The report has segmented the market on the basis on region, component, service, service type, service model, organization size and vertical.
Breakup by Component:
- Solutions
- Services
Breakup by Service:
- Professional Services
- Managed Services
Breakup by Service Type:
- Cloud Management and Orchestration
- Disaster Recovery
- Hybrid Hosting
Breakup by Service Model:
- Infrastructure as a Service
- Platform as a Service
- Software as a Service
Breakup by Organization Size:
- Small Enterprises
- Medium Enterprises
- Large Enterprises
Breakup by Vertical:
- Government and Public Sector
- Healthcare
- Banking, Finance, Services and Insurance (BFSI)
- Retail
- Information and Communication Technology
- Manufacturing
- Others
Breakup by Region:
North America:( United States, Canada)
Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico,Others)
Middle East and Africa
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