WILMINGTON, DE, UNITED STATES, January 31, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, Hybrid Cloud Market Size by Component, Service Model, Organization Size, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,
The global hybrid cloud market was valued at $36,138 million in 2017, and is projected to reach $171,926 million by 2025, growing at a CAGR of 21.7% from 2018 to 2025.
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Shift in preference toward hybrid cloud, growth in digital disruptions, increased adoption of hybrid cloud in IT service management (ITSM) models, and growth in demand for scalable, agile, and cost-efficient cloud computing solutions majorly contribute toward the growth of the market. However, workload complexities in the hybrid cloud environment and security issues are expected to hamper the market growth.
The Infrastructure as a service (IaaS) segment is expected to grow at the highest CAGR during the forecast period owing to rise in popularity of IaaS on account of the numerous benefits such as enhanced performance, improved productivity, increased delivery speed, and others.
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Competitive Analysis:
The competitive environment of Hybrid Cloud Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Hybrid Cloud Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Key Players:
Microsoft Corporation
Amazon Web Services, Inc.
VMware, Inc.
Rackspace Inc.
Hewlett Packard Enterprise
Dell EMC
International Business Machines Corporation (IBM)
Google LLC
Verizon Enterprise
Cisco Systems, Inc., and Many More
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Region wise, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
Based on component, the solution segment dominated the global hybrid cloud market in 2017 and is expected to continue this trend during the forecast period owing to the growing demand for hybrid cloud solutions, as large number of companies are expected to commit to multi-cloud architectures, both public and private, and other solutions from different providers. Furthermore, the services segment is expected to grow at the highest CAGR during the forecast period, as it provides a cost-effective way of allowing easy access to the organizations and ensuring more secure operations.
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