Global Hybrid Cloud Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

A hybrid cloud is a combination of at least two computing operating systems environment that share information and operate at a consistent set of applications for a business or enterprise over the internet. The primary purpose of hybrid cloud is to establish an IT infrastructure design which combines a company’s internal IT resources with the infrastructure and services of third-party cloud providers.

Sizing and Forecast

The hybrid cloud market size has grown rapidly in recent years. It will grow from $99.37 billion in 2023 to $114.87 billion in 2024 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to complex application requirements, business agility and flexibility needs, security concerns, legacy infrastructure integration, cost optimization strategies..

The hybrid cloud market size is expected to see rapid growth in the next few years. It will grow to $215.07 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. The growth in the forecast period can be attributed to increasing cloud adoption, digital transformation, data security concerns, remote workforce expansion, multi-cloud management, ai and analytics expansion.. Major trends in the forecast period include business continuity and disaster recovery, ai and analytics integration, edge computing integration, cost optimization strategies, multi-cloud management, remote workforce enablement..

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Segmentation & Regional Insights

The hybrid cloud market covered in this report is segmented –

1) By Component: Solution, Services
2) By Workload: Storage, Backup And Disaster Recovery, Application Development And Testing, Database Management, Business Analytics, Integration And Orchestration, Customer Relationship Management, Enterprise Resource Management, Cloud Collaboration And Content Management, Other Workloads
3) By Organization Size: Large Enterprises, Small and Medium-sized Enterprises
4) By End-User Industry: Government and Public Sector, Healthcare, Banking, Finance, Services, and Insurance (BFSI), Retail, Information and Communication Technology, Media and Entertainment, Other End-User Industries

North America was the largest region in the hybrid cloud market in 2023. Asia-Pacific is expected to be the fastest-growing region in the hybrid cloud market during the forecast period. The regions covered in the hybrid cloud market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The increasing adoption of cloud services is expected to propel the growth of the hybrid cloud market going forward. Cloud services refer to a wide range of services offered on demand to clients and companies through the internet. A hybrid cloud combines on-premises infrastructure with public and private cloud services. This allows enterprises to benefit from the security of private cloud environments while benefiting from the low-cost operation, scalability, security, and control. Due to such the above offerings and benefits of cloud services, there is an increasing demand for hybrid cloud. For instance, in March 2021, according to the Flexera 2021 State of the Cloud Report survey of 750 technical professionals from around the world and across a diverse range of organizations, 92% of enterprises have a multi-cloud strategy, 80% have a hybrid cloud strategy, and 55% of enterprise workloads are expected to be in a public cloud within a year. Therefore, the increasing adoption of cloud services is driving the growth of the hybrid cloud market.

Key Industry Players

Major companies in the hybrid cloud market are focused on introducing security features for AirLink router management, such as hybrid cloud security, to strengthen their position in the market. Hybrid cloud security is a strategy for securing a computing environment that combines on-premises infrastructure, private cloud, and public cloud services. For instance, in October 2023, Semtech Corporation, a US-based high-performance semiconductor, IoT systems, and cloud connectivity service provider, announced a patent-pending hybrid cloud security feature for AirLink router management. The innovation lies in the way that on-site infrastructure under customer control and cloud technology flexibility work together to provide unmatched security and control that is compliant with Zero Trust strategies.

The hybrid cloud market report table of contents includes:

1. Executive Summary

2. Hybrid Cloud Market Characteristics

3. Hybrid Cloud Market Trends And Strategies

4. Hybrid Cloud Market – Macro Economic Scenario

5. Global Hybrid Cloud Market Size and Growth

….

31. Global Hybrid Cloud Market Competitive Benchmarking

32. Global Hybrid Cloud Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Hybrid Cloud Market

34. Hybrid Cloud Market Future Outlook and Potential Analysis

35. Appendix

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