Hybrid Cloud Market by Solution (Cloud Management and Orchestration, Disaster Recovery, Security and Compliance, and Hybrid Hosting), by Service (Professional Services and Managed Services), by Service Model (IaaS, PaaS, and SaaS) - Global Forecast to 2021
“The growing demand of organizations for agile, scalable, and cost effective cloud computing solutions is driving the hybrid cloud market”
The hybrid cloud market is estimated to reach USD 91.74 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 22.5% from 2016 to 2021. Factors such as rising need of standards for interoperability between cloud services and existing systems, increasing demand to avoid vendor lock-in, and increasing digital services and their applications are contributing towards the significant growth of the hybrid cloud market. Organizations are deploying cloud-based solutions to overcome business challenges that are difficult to address with traditional IT infrastructure. Moreover, cost effectiveness of hybrid cloud solutions and services is driving this market.
“Disaster recovery solution is expected to grow at a high CAGR during the forecast period”
The report studies the market on the basis of various solutions, including solutions. The disaster recovery solution is expected to grow at the highest CAGR during the forecast period. The disaster recovery solution enables the backup and recovery of data and applications on secondary storages or infrastructure. Hence, companies are deploying hybrid cloud solutions to leverage many benefits that solutions offer.
“Asia-Pacific is expected to grow at the highest CAGR”
The hybrid cloud market in North America is expected to hold the largest market share, followed by Europe. However, the market in Asia-Pacific (APAC) is expected to grow at the highest CAGR. The major factor contributing to the high growth of the hybrid cloud market in APAC is the increasing utilization of data centers and cloud services and increasing trend of large enterprises combining private and public operations for hybrid cloud computing in the region.
Breakdown of primary research interactions:
To determine and verify the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. Below are the details:
• By Company Type: Tier 1 (20%), Tier 2 (30%), and Tier 3 (50%)
• By Designation: C-level (25%), Director level (35%), and other executives (40%)
• By Region: North America (52%), Europe (23%), APAC (15%), and Rest of World (10%)
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis, analysis of top players, their products and services offered, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the network analytics market, high-growth regions, drivers, restraints, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
1. Market Penetration: Comprehensive information on hybrid cloud solutions offered by the top 10 players in the hybrid cloud market
2. Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the hybrid cloud market
3. Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for hybrid cloud solutions and services across various regions
4. Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the hybrid cloud market
5. Competitive Assessment: In-depth assessment of market shares, strategies, products, and capabilities of the leading players in the hybrid cloud market