Hybrid Cloud Market to Reach $149.11 Billion by 2030, Growing at a CAGR of 13.51%
Hybrid Cloud Market to Reach USD 149.11 Billion by 2030, Driven by Demand for Flexible and Scalable Computing Solutions
The global Hybrid Cloud Market is experiencing significant growth, projected to expand from USD 61.41 billion in 2023 to USD 149.11 billion by 2030, registering a robust CAGR of 13.51% during the forecast period. This surge is attributed to the increasing demand for flexible, scalable, and cost-effective computing solutions that bridge the gap between traditional IT infrastructure and cloud services.
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Market Overview
Hybrid cloud solutions integrate on-premises infrastructure with public and private cloud services, offering businesses the agility to scale resources as needed while maintaining control over critical data. This approach enhances operational efficiency, supports rapid deployment of IT resources, and ensures compliance with regulatory requirements.
Regional Insights
North America currently holds the largest share in the global hybrid cloud market, driven by the presence of major cloud service providers and early adoption of advanced technologies. The Asia-Pacific region is expected to witness significant growth due to increasing digital transformation initiatives and the rising adoption of cloud-based solutions across various industries.
Recent Developments
- Microsoft Corporation has enhanced its hybrid cloud offerings by integrating advanced AI capabilities, enabling real-time analytics and improved decision-making processes.
- Amazon Web Services has expanded its hybrid cloud services, offering scalable and secure solutions for various industries.
- Google LLC continues to innovate in the hybrid cloud space, focusing on enhancing scalability and security features to cater to diverse industry needs.
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Hybrid Cloud Market Segmentation:
by Component
Solution
Services
Over the course of the projection period, the services segment is anticipated to increase at a compound annual growth rate (CAGR) of 8.7%. Due to its improved scalability, affordability, and safe deployment options, hybrid cloud adoption among businesses has emerged as a critical part of company operations and is predicted to increase over the next several years. Co-location, dedicated servers, and virtualised systems are becoming easier for businesses to combine to create a hybrid hosting environment.
by Service Model
Software as a service (SaaS)
Infrastructure as a service (IaaS)
Platform as a service (PaaS)
During the projected period, the SaaS category is anticipated to increase at a CAGR of 9.7% by Service Model. SaaS's widespread use can be ascribed to its quick deployment, easy maintenance, and flexible pricing. With over 70% of businesses shifting the majority of their apps to the SaaS platform, more businesses are shifting their operations to the cloud. The need for SaaS solutions that give collaborative teams access to formerly centralised data and analytics has increased as a result of remote working.
by Organization Size
Large enterprises
Small and medium enterprises
by Industry Vertical
IT & Telecom
Healthcare
BFSI
Retail
Government
Media & entertainment
Transportation & Logistics
Manufacturing
Others
During the projected period, the BFSI segment is anticipated to develop at a compound annual growth rate (CAGR) of 8.2% by Industry Vertical. Cloud computing is a key component of the digital transformation that banks have adopted in response to the rise in online banking activity in the BFSI sector. Businesses in the BFSI sector have benefited from cloud computing's ability to save costs, promote innovation, enhance client relations, and boost flexibility. The COVID-19 pandemic has changed how people communicate and do business.
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Hybrid Cloud Market Major Players:
1. Microsoft Corporation
2. Amazon Web Services, Inc.
3. VMware, Inc.
4. Rackspace Inc.
5. Hewlett Packard Enterprise
6. Dell EMC
7. IBM Corporation
8. Google LLC
9. Verizon Enterprise
10. Cisco Systems, Inc.
11. AWS
12. Oracle
13. Alibaba
14. Equinix
15. NetApp
16. Atos
17. Fujitsu
18. CenturyLink
19. NTT Communications
20. Citrix
21. Pure Storage
22. Unitas Global
23. Quest Software.
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