Westford, USA, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Hybrid Cloud Market size was valued at USD 81.01 billion in 2022 and is poised to grow from USD 97.8 billion in 2023 to USD 348.14 billion by 2031, growing at a CAGR of 17.2% during the forecast period (2024-2031).
Major factors driving the growth in the global hybrid cloud market are large-scale growth in the usage of mobile and internet devices across the globe, increase in the adoption of digital transformation plans by enterprises, and rise in the utilization of Big Data. The expected role of cloud enablement in the next generation of industrial solution development means that strong cloud platforms need to show their digital business capabilities. Complete adoption of IoT, emergence of 5G, edge computing, and integration of real-time analytics powered with AI and ML are expected to increase the intrinsic value of computing technology for enterprises. This is expected to solidify the critical role that cloud solutions play in enabling such transformational technologies.
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Browse in-depth TOC on the “Hybrid Cloud Market”
Pages- 197
Tables- 149
Figures- 79
Hybrid Cloud Market Overview:
| Report Coverage | Details |
| Market Revenue in 2022 | USD 81.01 billion |
| Estimated Value by 2031 | USD 348.14 billion |
| Growth Rate | Poised to Grow at a CAGR of 17.2% |
| Forecast Period | 2024-2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Service, Service Model, Organization Size, Vertical And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Middle East & Africa, Latin America |
| Report Highlights | Emergence of AI and ML in Computing Technology |
| Key Market Opportunities | Growing Adoption of Hybrid IT |
| Key Market Drivers | Flexibility and Scalability |
Scalability and Adaptability Features Aid Solution Segment to Dominate the Hybrid Cloud Market
The solution segment dominated the hybrid cloud market due to its feature of addressing core needs of integration and maintenance of a hybrid environment. These solutions include platforms and infrastructure technologies which an organization must be employed to connect the on-premises systems to public and private clouds and ensure seamless interoperability. As a result, they act as an intermediary for various tasks such as integrating data, orchestrating applications, and managing workloads, which are critical for the emergent complexities associated with hybrid cloud configurations. In addition, such solutions have already become scalable and flexible to further enable companies to optimize resource utilization and adapt to changing demands.
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Cloud Management and Orchestration: Fastest-Growing Segment in Hybrid Cloud
The cloud management & orchestration segment is the fastest growing within the hybrid cloud market. These services allow the integration of on-premises systems with cloud environments by providing features related to automatic deployment, monitoring, and scaling of cloud resources. By exploiting such solutions in operations optimization, underlined by a rapid growth in demand, especially given the growing realization of hybrid cloud strategies by enterprises, it brings forth another driver such as multi-cloud solutions. These do need adequate management and orchestration tools that enable smooth operation and cost-effectiveness.
Strategic Adoption of Hybrid Cloud in North America: Supporting Its Dominance
North America maintains its leading position in the hybrid cloud market. Several enterprises in the region are moving beyond relying solely on public cloud services. Instead, they are initiating a revolutionary phase when they are embracing hybrid IT services, integrating the traditional IT infrastructure with commercial and public sectors. This tactical shift, since it indeed reflects these companies embracing hybrid cloud offerings, is a critical leap for them. Indeed, such efforts have proved to enhance their overall business capability and smoothly deliver services to their customers.
Hybrid Cloud Market Insights
Drivers
- Flexibility and Scalability of Hybrid Cloud
- Cost Efficiency
- Innovation and Agility
Restraints
- Complexity of Management
- Data Transfer Costs
- Privacy and Security Concerns
Key Player Operating Within the Hybrid Cloud Market
The following are the Top Hybrid Cloud Companies
- IBM Corporation
- Intel Corporation
- Fujitsu Ltd.
- DXC Technology Company
- Microsoft Corporation
- Oracle Corporation
- Accenture Plc
- Alibaba Cloud
- Dell EMC
- Equinix Inc.
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Key Questions Covered in the Global Hybrid Cloud Market Report
- What is the expected CAGR of the global hybrid cloud market by 2031?
- What are key strategies adopted by market players to sustain their position?
- Which is the dominant region of the hybrid cloud market?
This report provides the following insights:
- Analysis of key drivers (cost efficiency and innovation & agility), restraints (data transfer costs and privacy & security concerns) opportunities (growing adoption of hybrid IT), and challenges (integration issues) influencing the growth of the hybrid cloud market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the hybrid cloud market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the hybrid cloud market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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