The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The hybrid cloud market has experienced rapid growth in recent years, with significant projections for the future. Here’s a closer look at the factors driving this surge:

• Increasing Adoption of Cloud Services: Cloud services, offering scalability, security, and cost-effectiveness, are being embraced by enterprises worldwide. This fuels the demand for hybrid cloud solutions, blending on-premises infrastructure with public and private cloud services.
• Market Size Growth: The hybrid cloud market is expanding from $99.37 billion in 2023 to $114.87 billion in 2024, with a compound annual growth rate (CAGR) of 15.6%. Forecasts predict a further increase to $215.07 billion by 2028, with a CAGR of 17.0%.
• Market Trends: Major trends shaping the market include business continuity and disaster recovery, AI and analytics integration, edge computing, cost optimization strategies, multi-cloud management, and remote workforce enablement.
• Cloud Adoption Statistics: According to the Flexera 2021 State of the Cloud Report, 92% of enterprises have a multi-cloud strategy, 80% have a hybrid cloud strategy, and 55% of enterprise workloads are expected to be in a public cloud within a year.

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Technological Advancements Propel Market Growth

Technological innovation plays a crucial role in driving efficiency and scalability within the hybrid cloud market. Key advancements include:

• Flexential’s Hybrid IT Options: Flexential introduced new hybrid IT options to extend applications and workloads beyond on-premises data centers, enhancing application performance while alleviating infrastructure management burdens.
• IBM’s Acquisition of Bluetab Solutions: IBM’s acquisition of Bluetab Solutions Group in July 2021 expands its data and hybrid cloud consulting services portfolio, reinforcing its hybrid cloud and AI ambitions.

Segmentation and Regional Outlook

The hybrid cloud market is segmented based on various factors:

• By Component: Solutions and Services
• By Workload: Storage, Backup and Disaster Recovery, Application Development and Testing, Database Management, Business Analytics, and more.
• By Organization Size: Large Enterprises, Small and Medium-sized Enterprises
• By End-User Industry: Government and Public Sector, Healthcare, BFSI, Retail, ICT, Media and Entertainment, among others.

Regional Analysis: In 2023, North America led the hybrid cloud market, while Asia-Pacific is expected to witness the fastest growth during the forecast period.

Conclusion

The hybrid cloud market’s robust growth is fueled by the increasing adoption of cloud services, technological advancements, and the evolving needs of enterprises. As businesses prioritize flexibility, scalability, and security, hybrid cloud solutions emerge as a preferred choice, driving innovation and market expansion. With ongoing technological developments and strategic acquisitions, major players continue to shape the landscape, offering tailored solutions to meet diverse business requirements. As we move forward, the hybrid cloud market is poised for continued growth and evolution, supporting businesses in their digital transformation journeys.

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The Hybrid Cloud Global Market Report 2024  provides an overview of the hybrid cloud market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The hybrid cloud market forecast analyzes hybrid cloud market size, hybrid cloud market share, leading competitor and their market positions.

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