Growth opportunities in the Hybrid Cloud market look promising over the next six years. This is mainly due to the rising adoption of hybrid cloud in IT service management models, the shift in the preference towards hybrid cloud, followed by the growing need for connectivity and the rising reliance on mobile communications.
Hybrid Cloud Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The growing adoption of hybrid cloud in IT service management models and the increasing preference towards hybrid cloud acts are the major factors that are contributing to the growth of the Hybrid Cloud market share. The hybrid cloud platform is getting popular in the IT industry as it provides benefits, including higher scalability, flexibility, and multi-cloud space while offering security reassurance to organizations. IT players are spending 56% time on maintenance and 24% spend on resolving technical issues through different platforms. In addition to this, this maintenance and working model is time and capital-consuming, which has encouraged businesses to opt for hybrid cloud, thus surging the global hybrid cloud market size.
Various companies are facing a third wave of digital disruption, which is motivated the core forces such as the long-term falling cost of computing, communications, and storage. Surviving in the digital transformation is becoming a challenge in various industry verticals. Other factors such as the evolution in need for connectivity, the increasing reliance on mobile communications, and others have surged the velocity of disruptions, which is projected to create a new hybrid cloud market opportunity. On the other hand, network complications and increasing security concerns are the major factors that are hindering market growth.
End-Use Segment Drivers
Based on the end-use, the BFSI segment is projected to witness a faster CAGR during the forecast period. The growing adoption of cloud services for the storage and management of customer data is a key driver that is surging the growth of the market. Some other factors, which include secure storage, interoperability, and 24×7 uptime, have encouraged the BFSI industry to focus more on customer-centric business models and digitalization of trade and wealth. Moreover, services that include online fund transfer, digital wallets, payment gateways, and unified customer experience are playing an important role in the BFSI sector, therefore surging the growth of the market.
Hybrid Cloud Market’s leading Manufacturers:
- VMware, Inc
- Microsoft
- RACKSPACE TECHNOLOGY
- IBM
- Amazon
- Hewlett Packard Enterprise Development LP
- CISCO
- Dell Inc.
- Verizon
Hybrid Cloud Market Segmentation:
Segmentation by Service:
- SaaS
- IaaS
- PaaS
Segmentation by Enterprise:
- Large Enterprise
- Small & Medium Enterprise
Segmentation by End Use:
- BFSI
- IT & Telecom
- Retail & Consumer Goods
- Manufacturing
- Energy and Utilities
- Healthcare
- Media & Entertainment
- Government & Public Sector
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company’s large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird’s eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
