Delvens published a new research publication on "Hybrid Cloud Market Insights, to 2030" with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Hybrid Cloud market was mainly driven by the increasing R&D spending across the world.
The global Hybrid Cloud market size was estimated at USD 96.2 billion in 2023 and is projected to reach USD 278.51 billion in 2030 at a CAGR of 16.4% during the forecast period 2023-2030.
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Competitive Landscape of Hybrid Cloud Market
· Accenture PLC
· Alibaba Cloud (Alibaba Group Holding Limited)
· Amazon Web Services (Amazon Inc.)
· Atos
· AWS
· Centurylink
· Cisco Systems Inc.
· Dell EMC (Dell Technologies Inc.)
· DXC Technology Company
· Equinix Inc.
· Flexera Software LLC
· Fujitsu Ltd
· Google LLC
· Hewlett Packard Enterprise Company
· IBM Corporation
· Intel Corporation
· Lumen Technologies Inc.
· Microsoft Corporation
· NTT Communications Corporation and More
A hybrid cloud is an integrated cloud service that uses both private and public clouds to perform individual functions within the same organization. The importance of the hybrid cloud has grown due to the versatility and dynamism of the work. It offers several advantages such as cost-effectiveness and scalability, flexibility and security. Because of these advantages, organizations are moving to hybrid clouds to achieve security for data, applications and mass storage to reduce their capital costs by adopting a combination of private and public cloud models.
Recent Developments
In March 2023, Flexera announced the general availability of Flexera One FinOps. This solution helps in strengthening an enterprise's FinOps and central cloud teams while enhancing the convergence of IT asset management (ITAM) and FinOps, empowering enterprises to significantly improve how they visualize and allocate cloud usage and billing, efficiently manage hybrid IT estates, and operate cloud at scale.
In March 2023, NTT Communications Corporation announced the launch of efforts involving digital humans and the virtual world as part of its business co-creation program, "OPEN HUB for Smart World," with the goal of broadening possibilities for all people, including those with workplace or time constraints.
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The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. The hybrid cloud platform has grown in popularity because it not only offers flexibility, scalability and multi-cloud mode, but also guarantees data security to organizations. In addition, the move to hybrid clouds makes information and service integrity a key priority for organizations.
That's why it's important to get the right mix of on-premises and multi-service offerings to ensure continuous availability of data that can be coordinated across multiple platforms. In addition, according to the study, IT managers spend 56% of their time on maintenance and operations and 24% on technology development. Additionally, they spend 20% of their time working with business leaders on digital transformation initiatives, which is extremely time-consuming and expensive. Hence the inclination of organizations to the hybrid cloud. These factors have led to the expansion of the market and increased demand for Hybrid Cloud solutions.
Key Findings of Hybrid Cloud Market
· The component segment is further fragmented into Solutions, and Services. The solution segment is expected to account for a larger market size during the forecast period. The growth of this segment is driven by the greater flexibility offered by the hybrid cloud to move critical workloads between cloud solutions. In addition, the solutions offer a cost-effective approach. This is driving both large and small businesses to adopt hybrid cloud solutions, which is expected to drive market growth.
· The service model segment is further bifurcated into software as a service (SaaS), Infrastructure as a service (IaaS) and platform as a service (PaaS). The Software as a service (SaaS) is the largest market during the forecast period. In a business environment, SaaS is an exciting alternative to traditional software installation. This is due to the various advantages offered by SaaS, including reduced setup and installation time, low cost, scalability and integration, ease of use and smooth migration. These factors thus increase the demand for SaaS and thus accelerate the growth of the market.
· The vertical segment is further bifurcated into IT & telecom, healthcare, BFSI, retail, government, media & entertainment, transportation & logistics, manufacturing and others. BFSI to account for a larger market size during the forecast period. The BFSI industry is witnessing strong market growth due to the growing need to store sensitive financial information. In this digital era, BFSI companies are significantly adopting digital tools that have created the need to efficiently segregate data loads and move a significant portion to the public cloud.
The Report helps to identify the opportunities in Global Regions:
· North America (the United States, Canada, and Mexico)
· Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
· Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
· South America (Brazil etc.)
· The Middle East and Africa (North Africa and GCC Countries)
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In addition to the market data for the Hybrid Cloud Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.
Reasons to Acquire
· Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
· Gain authentic and granular data access for the Hybrid Cloud Market to understand the trends and the factors involved in changing market situations.
· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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