Hybrid Cloud Market Growing at CAGR of 17.0% | Key Players IBM, Microsoft, Cisco Systems, AWS, Oracle

Report provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the hybrid cloud market.

(EMAILWIRE.COM, October 22, 2019 ) The Hybrid Cloud Market is expected to grow from USD 44.6 billion in 2018 to USD 97.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 17.0% as per a report by MarketsandMarkets.

As new applications are being launched continuously along with the growing use of existing applications, the capacity of private cloud is unable to meet the rising demand. Therefore, enterprises are moving towards the adoption of hybrid cloud deployment model so that they could use the pay-as-you-go capacity model of public cloud with controlled security of private cloud. The hybrid cloud market consists of various solutions such as consulting, integration, cloud management, cloud security, and networking. These tools help to analyze business data and derive valuable insights. The major suppliers in this field include Amazon Web Services, HP, Rackspace, Cisco Systems Inc., Equinix, Inc., IBM and many more.

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In the era of the hybrid cloud environment, the rising need for more computational power would prove to be a huge growth opportunity. With the advantages of scalability and flexibility, hybrid cloud is best suited for high computational needs. The hybrid cloud helps organization easily manage large volumes of sensitive data used in analytics. The analytical process can be faster with the hybrid cloud, as it can be processed across multiple servers at once. In other words, if an organization needs to increase its compute power, it can be done through the hybrid cloud. For instance, predictive and advanced analytics need scalability and flexibility capabilities. Thus, the mature analytics market is expected to provide significant growth opportunities for hybrid cloud solution and service providers.

With the advent of the hybrid cloud environment, the workload of applications and services are constantly increasing, leading to further workload complexities. Workload complexities are more prevalent in the hybrid cloud environment than in the single cloud architecture. Organizations are collecting, storing, and analyzing critical data in an efficient manner and making the data easily accessible. In the hybrid cloud environment, enterprises utilize different environments which often work as a unified system. Thus, there is a need for reliable, high-performing back-end integration between systems, which will enable companies to control all of their applications. Businesses can thrive by utilizing a solution that reduces the workload complexity in the hybrid cloud environment.

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The key industry players are solidifying their presence in the hybrid cloud market through Mergers and Acquisitions (M&A), partnerships, and new product development. A few M&A are: Cisco acquired Metacloud, a unique Openstack-as-a-service model that deploy private cloud in the customer’s data center. Metacloud OpenStack-based cloud platform is expected to accelerate Cisco’s strategy to build the world’s largest global Intercloud. Microsoft had partnership with Cisco to increase the deployment of hybrid cloud worldwide among the enterprises. This partnership would also enable the customers in simplifying their IT operations, reduce additional costs, and experience benefits of optimized data centers. HP launched its new product HP Helion to extensively expand its diverse portfolio in cloud-based services and products.