Hyderabad, July 10, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Global Hybrid Cloud Market Report (2023-2028)," the market is estimated at USD 129.43 billion in 2023. It is expected to register a CAGR of 21.91%during the forecast period.
A hybrid cloud combines on-premises, private cloud, and public cloud services, providing flexibility and deployment options for organizations. It provides greater flexibility and more data deployment options. Traditional data center outsourcing is declining due to the growth of cloud and industrialized solutions. With the sudden shift to remote work, businesses turned to cloud computing solutions. Hybrid cloud allows them to scale computing resources, handle spikes in demand, and maintain data security while saving costs. It also enables government organizations to handle demands and emergency needs without extra hardware.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 129.43 billion |
| Market Size (2028) | USD 348.53 billion |
| CAGR (2023-2028) | 21.91% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Growth of cloud and industrialized services. |
| The increase in infrastructure utility services. |
Who are the Top Companies in the Global Hybrid Cloud Market?
There are several major players in the global hybrid cloud market, making it highly fragmented. A few major players hold the majority of the market share. They are constantly trying to expand their operations into different countries. These companies are also acquiring start-ups working on hybrid cloud technologies to strengthen their product capabilities.
The leading players in the global hybrid cloud market with a majority market share in 2023 are:
- Cisco Systems Inc.
- Hewlett Packard Enterprise Company
- Amazon Web Services (Amazon Inc.)
- Citrix Systems Inc.
- IBM Corporation
- Alibaba Group Holding Limited
- Rackspace US Inc.
- Oracle Corporation
- Google LLC
- Equinix Inc.
- Vmware Inc.
- Panzura Inc.
- RightScale Inc.
- Dell EMC
- Intel Corporation
- Fujitsu Ltd.
- NTT Communications Corporation
- DXC Technology Company
- Lumen Technologies Inc.
- Microsoft Corporation
Other Reports That Might Be of Your Interest:
- Government Cloud Market Report - The government cloud market is expected to grow from USD 30.29 billion in 2023 to USD 66.79 billion by 2028, at a CAGR of 17.13% during the forecast period (2023-2028).
- Retail Cloud Market Report - The retail cloud market is expected to grow from USD 38.46 billion in 2023 to USD 104.54 billion by 2028, at a CAGR of 22.14% during the forecast period (2023-2028).
Key Highlights from the Global Hybrid Cloud Market Report:
Improved Business Performance and Greater Return on Investments
- Hybrid cloud allows businesses to use both public and private cloud resources, improving scalability and agility.
- It provides cost optimization by selecting the best deployment model for each application and workload, all while maintaining control over sensitive data.
North America Holds the Major Market Share
- Businesses in North America are increasingly going digital and adopting hybrid cloud solutions. Cloud service providers in the region are offering advanced capabilities to support this transformation.
- Hybrid cloud solutions address concerns regarding data security and regulatory compliance effectively.
What are the Latest Developments in the Global Hybrid Cloud Market?
- In March 2023, Hewlett Packard Enterprise acquired OpsRamp, an IT operations management (ITOM) company that monitors, observes, automates, and manages IT infrastructure, cloud resources, workloads, and applications for hybrid and multi-cloud environments, including the leading hyperscalers.
- In November 2022, Cisco's expanded partner program demonstrated its commitment to empowering partners with the necessary skills and expertise to capitalize on the significant market opportunities in hybrid cloud, hybrid work, SASE, and full-stack observability.
Mordor Intelligence has Segmented the Global Hybrid Cloud Market Based on Type, End-user Industry, and Geography.
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Solution
- Service
- By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Government and Public Sector
- Healthcare
- Banking, Finance, Services, and Insurance (BFSI)
- Retail
- Information and Communication Technology
- Media and Entertainment
- Other End-User Industries
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Hybrid Cloud Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Cloud Infrastructure Services Market Report - The global cloud infrastructure services market is expected to grow from USD 72.69 billion in 2023 to USD 100.15 billion by 2028, at a CAGR of 6.62% during the forecast period (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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