Hybrid Cloud Market Size Sees Exponential Rise Amidst Hybrid IT Adoption | Expected to Surpass $171,926 Million by 2025
Hybrid cloud market driven by agility, scalability, cost-efficiency, and data control, meeting diverse enterprise cloud needs.
PORTLAND, OREGON, UNITED STATES, September 11, 2023/EINPresswire.com/ — The Hybrid Cloud Market was valued at $36,138 million in 2017; by 2025, it is anticipated to have grown to $171,926 million, with a CAGR of 21.7%.
The market is expected to rise as a result of a shift in consumer preference toward hybrid clouds, an increase in digital disruptions, growing usage of hybrid clouds in IT service management (ITSM) models, and rising demand for scalable, agile, and affordable cloud computing solutions. However, it is anticipated that the growth of the market will be hampered by security concerns and workload complexity in the hybrid cloud environment.
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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.
Organizations are increasingly embracing multi-cloud approaches, leveraging multiple cloud providers for diverse workloads. This trend reflects the need for flexibility, vendor diversity, and avoiding vendor lock-in, contributing to the growth of hybrid cloud solutions that seamlessly integrate on-premises infrastructure with various cloud environments.
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The rise of edge computing has led to the integration of hybrid cloud solutions at the network edge. This allows for data processing closer to the source, reducing latency and improving real-time decision-making. Hybrid cloud architectures are crucial in extending cloud capabilities to edge locations. Heightened concerns around data security and compliance have led to an increased focus on hybrid cloud solutions. Organizations can maintain sensitive data on-premises while leveraging public cloud resources for other purposes, ensuring data sovereignty and regulatory compliance.
Containerization technologies like Kubernetes are playing a pivotal role in hybrid cloud adoption. These technologies enable consistent application deployment and management across hybrid environments, facilitating the movement of workloads between on-premises and cloud infrastructure seamlessly.
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Some of the key market players profiled in the report include 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 others.
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David Correa
Allied Analytics LLP
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