NEW
YORK, July 9, 2024 /PRNewswire/ -- The hybrid
cloud market refers to the integration of private and public cloud
environments, allowing organizations to leverage the benefits of
both. According to Technavio, the market is expected to grow
significantly, driven by simplified disaster recovery solutions and
the adoption of container technology. However, challenges such as
network connectivity issues and latency need to be addressed. Key
players driving this market include Accenture Plc, Alibaba Group
Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc.,
Dell Technologies Inc., and others, who are instrumental in shaping
its rapid expansion.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Component (Services and
Solution), End-user (BFSI, Retail, Healthcare, Telecom, and
Others), and Geography (North America, Europe, APAC, South America,
and Middle East and Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
Accenture Plc, Alibaba
Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems
Inc., Dell Technologies Inc., DXC Technology Co., Equinix Inc.,
Furukawa Electric Co. Ltd., Hewlett Packard Enterprise Co., Intel
Corp., International Business Machines Corp., Kyndryl Inc., Lumen
Technologies Inc., Microsoft Corp., Nutanix Inc., Oracle Corp.,
Panzura LLC, Rackspace Technology Inc., and VMware Inc.
|
Key Market Trends Fueling Growth
Hybrid cloud deployments are becoming increasingly popular as
organizations seek a consistent application development
environment. Containers and microservices are emerging as effective
alternatives to virtual machines, which consume significant
resources. Containers, like virtual machines, have dedicated CPU
and memory, but they share the operating system kernel. This
eliminates the need for a guest operating system or hypervisor,
making containers lighter than virtual machines. Organizations
often face challenges moving applications between different
environments. Containers address this issue by bundling the
applications and all their operating system dependencies into a
single package. This facilitates the easy transfer of applications
between various cloud platforms, making container and microservice
architecture a suitable solution for hybrid cloud environments.
Moreover, containers offer increased application performance
visibility, agility, and cost savings that are challenging to
achieve with virtualization technologies. Additionally, container
and microservice architecture allows for rapid scaling across
different environments, which is crucial for businesses looking to
expand. Consequently, many organizations are adopting Kubernetes to
leverage the benefits of containers in hybrid cloud services.
Therefore, the adoption of container technology is expected to
accelerate the growth of the hybrid cloud market during the
forecast period.
Hybrid Cloud is a hot trend in IT spending as more businesses
adopt this model for their non-critical applications. Legacy
technologies are being transformed through Hybrid Cloud solutions,
enabling transactions without the need for physical presence at
bank branches. Remote working systems and online documentation have
become essential, leading to increased demand for cost-effective
and efficient Hybrid Cloud infrastructure. Hybrids offer
flexibility and automation for IT services, enhancing productivity
for customers. Public Cloud solutions continue to innovate with
tablets and Hybrid Cloud Mesh, while Hybrid Multicloud
infrastructure ensures observability and scalability. Cost
efficiency, agility, security, and business-IT collaboration are
key benefits for enterprises of all sizes and verticals, including
Telecommunications, Healthcare, and Finance. Hybrid Cloud enables
digital transformation through enhanced analytics, data protection,
and customized service types and models. Traditional cloud models
are being replaced with this flexible and secure solution.
Organizations can now reduce costs, increase efficiency, and
improve their overall IT infrastructure while ensuring data
protection and security.
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Market Challenges
- A hybrid cloud setup combines the benefits of on-premises and
public cloud environments. However, ensuring seamless connectivity
between the two can present challenges. One option is using the
Internet for data transfer, which comes with security risks and
unguaranteed connection speeds, leading to potential latency
issues. Another choice is a VPN connection, which offers encryption
for security but doesn't eliminate latency and is costlier than the
Internet. Lastly, a direct connection to a public cloud provider
via a private network offers optimal performance and security but
can be expensive for many organizations. These connectivity choices
impact the hybrid cloud market's growth, as businesses weigh the
benefits and costs.
- Hybrid cloud is a popular solution for organizations seeking to
optimize IT infrastructure while addressing challenges of cost
efficiency, scalability, and agility. Businesses of all sizes, from
telecommunications and healthcare to enterprises in verticals like
banking, face unique needs. Security is a top concern, especially
for data protection. Hybrid cloud offers a mix of public and
private cloud services, allowing organizations to leverage the
benefits of each. Cost-effective hybrid hosting solutions enable
businesses to save capital by utilizing public cloud for
non-critical workloads and private cloud for sensitive data.
Service models like IaaS, PaaS, and SaaS cater to various
organization sizes and industries. Regions and public bodies also
benefit from hybrid cloud's flexibility in managing cyclical demand
and emergency needs. Hybrid cloud deployment involves consolidating
IT operations, improving management, and ensuring data security.
Hyperscale clouds and data center modernization play a significant
role in this evolution. Traditional data centers, colocation, and
hosting solutions are being replaced by cloud infrastructure.
Dynamic regulatory requirements and virtual services are driving
the hybrid cloud market, making it an essential industrial service
for organizations.
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challenges - Download a Sample Report
Segment Overview
This hybrid cloud market report extensively covers market
segmentation by
- Component
- 1.1 Services
- 1.2 Solution
- End-user
- 2.1 BFSI
- 2.2 Retail
- 2.3 Healthcare
- 2.4 Telecom
- 2.5 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Services- The Hybrid Cloud market refers to the
use of both private and public clouds by businesses to store and
manage their data. This approach offers flexibility, cost savings,
and enhanced security. Companies can leverage public clouds for
scalability and cost efficiency while keeping sensitive data in
private clouds. Hybrid Cloud solutions enable seamless data
transfer between clouds, ensuring business continuity and
compliance with data protection regulations.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The Hybrid Cloud market is a dynamic and evolving technology
landscape that offers businesses the benefits of both private and
public cloud solutions. With cost efficiency, businesses can save
on IT infrastructure expenses while still maintaining control over
their critical data and applications. Scalability is another key
advantage, allowing businesses to easily adapt to cyclical demand
and emergency needs. Agility is also a significant factor, enabling
businesses to quickly respond to dynamic regulatory requirements
and market changes. Telecommunications, healthcare, enterprises,
public bodies, and the banking sector are among the industries
increasingly adopting Hybrid Cloud solutions. Security is a top
priority, with data protection being a major concern. Components
include virtual services, management tools, and IT infrastructure.
Service types range from Infrastructure as a Service (IaaS),
Platform as a Service (PaaS), and Software as a Service (SaaS).
Legacy technologies and digitization are driving the shift towards
Hybrid Cloud, with many businesses seeking to modernize their IT
spending and enable remote working. The banking sector, in
particular, is embracing Hybrid Cloud for critical banking
processes and non-critical transactions without compromising
security. The future of Hybrid Cloud lies in its ability to provide
flexibility, efficiency, and security while enabling business-IT
collaboration and addressing the unique needs of various
industries.
Market Research Overview
Hybrid cloud is a computing solution that combines the benefits
of public and private clouds, allowing organizations to achieve
cost efficiency, scalability, agility, and business-IT
collaboration. Telecommunications, healthcare, enterprises, and
various verticals are adopting hybrid cloud for its flexibility in
managing IT infrastructure and data protection. Hybrid cloud
deployment models include colocation, infrastructure utility, and
cloud infrastructure. Service types range from IaaS, PaaS, and
SaaS, while service models offer traditional, industrial, and
Hyperscale cloud solutions. Organization size, verticals, and
regions influence the hybrid cloud market, with public bodies and
enterprises driving significant growth. Hybrid cloud enables
consolidated operation and management, enhancing productivity and
digital transformation. Dynamic regulatory requirements and
emergency needs further boost the demand for hybrid cloud
solutions. Hybrid cloud mesh and hybrid multicloud infrastructure
offer automation, observability, and flexibility for sensitive
business processes. Cost reduction, efficiency, and innovation are
key drivers for customers in their adoption of hybrid cloud
services. Traditional IT spending shifts towards cloud computing,
with on-premises infrastructure and legacy technologies being
replaced by virtual services and digitization. The banking sector
leverages hybrid cloud for critical banking processes and
non-critical applications, enabling remote working systems, online
documentation, and transactions without interruption. Hybrid cloud
solutions offer enhanced analytics and productivity, with tablets
and virtual services becoming essential tools for businesses in
various industries.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Component
-
- End-user
-
- BFSI
- Retail
- Healthcare
- Telecom
- Others
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio