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Written by Jack » Updated on: May 01st, 2024
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the “Global Hybrid Cloud Market.”
TechSci Research's report on the "Global Hybrid Cloud Market" projects robust growth during the forecast period, 2024-2028, attributed to increasing demand for scalable, agile, and cost-effective computing solutions. Factors such as rising volumes of business data and the growing penetration of applications and digital services across enterprises drive this growth.
The decline of traditional data center outsourcing (DCO) and the growth of cloud and industrialized services signifies a substantial shift towards hybrid infrastructure services. With an average of around 2.5 quintillion bytes of data produced daily, the proliferation of technologies like the Internet of Things (IoT) and connected devices contributes to the demand for modern data management solutions. Hybrid cloud services bridge the gap between IT and business by improving efficiency, agility, and cost-effectiveness, accelerating market expansion globally.
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The hybrid cloud market is segmented based on component, delivery model, organization size, end-user, and region. Large enterprises are expected to dominate the market due to the increased adoption of hybrid cloud solutions, driven by the shift to remote work models during the COVID-19 pandemic. Small and medium enterprises are also expected to expand rapidly, driven by government regulations and digitalization efforts.
BFSI is anticipated to dominate the market among end-user segments, driven by factors like interoperability, secure storage, and round-the-clock availability, enabling the sector to focus on customer-centric business models and digital commerce. Software-as-a-service (SaaS) is the dominant delivery model, catering to users seeking customized solutions and accelerating digital business activities.
Key market players in the hybrid cloud market:
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Noteworthy partnerships include Hewlett Packard Enterprise (HPE) GreenLake and VMware's collaboration to deliver a fully integrated hybrid cloud solution, aiming to simplify operational complexity and drive digital transformation. IBM Corporation's extended strategic partnership with VMware Inc. focuses on modernizing mission-critical workloads and easing time-to-value in hybrid cloud environments.
North America is estimated to hold the largest market share in the hybrid cloud market, driven by the demand for hybridization services in the United States. However, Asia Pacific has experienced significant growth throughout the forecast period, attributed to factors like artificial intelligence, 5G infrastructure, digital transformation, and rising government initiatives. High-speed networks and digitization in various sectors fuel market expansion in both regions.
Mr. Karan Chechi, Research Director at TechSci Research, highlights the growth potential and emerging trends in the hybrid cloud market, aiming to provide valuable market intelligence for decision-makers.
The report, "Hybrid Cloud Market - Global Industry Size, Share, Trends, Opportunity, and Forecast," provides comprehensive insights into market size, structure, and future growth, aiming to assist decision-makers in making informed investment decisions. It identifies emerging trends, drivers, challenges, and opportunities in the hybrid cloud market.
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