Global hybrid cloud market analysis and insights
The global Hybrid Cloud market estimated at US$70.3 billion in the year 2022 is now projected to grow at a CAGR of 17.48% and reach US$184.7 billion by 2028. This growth is primarily driven by the increasing adoption of cloud-based solutions after the Covid-19 pandemic. This market is witnessing a high compound annual growth rate (CAGR) due to the increasing emphasis on business efficiency and scalability. This growth is driven by factors such as the adoption of advanced technologies, including artificial intelligence (AI), the Internet of Things (IoT), and big data, which generate huge volumes of data.
The increasing application of hybrid cloud in storage, backup, and disaster recovery, alongside other segments such as application development and testing, database management, business analytics, integration and orchestration, customer relationship management, enterprise resource management, cloud collaboration and content management, and others, drives the growth of the global hybrid cloud market. The storage, backup, and disaster recovery segment holds the largest market share, enabling companies to categorize their data based on sensitivity and benefit from improved flexibility and data management.
The adoption of hybrid cloud in the banking, financial services, and insurance (BFSI) sector facilitates efficient data management within banks, allowing the separation of sensitive and low-risk data through private and public cloud divisions. Furthermore, the market caters to various end-user segments, including IT and telecommunications, government and public sector, retail and consumer goods, manufacturing, energy and utilities, media and entertainment, healthcare and life sciences, and others.
The global hybrid cloud market serves both small and medium-sized enterprises (SMEs) and large enterprises. While large enterprises dominate the market due to their ability to expand into new markets without significant capital expenditures, SMEs are expected to witness the highest CAGR during the forecast period. Hybrid cloud solutions offer SMEs rapid elasticity, ease of use, and cost-effectiveness with limited capital investment.
Hybrid cloud regional market insights
North American hybrid cloud market is expected to grow significantly over the forecast period 2022-2028. This can be attributed to the presence of major players such as Amazon Web Services (AWS), Microsoft and Google in the region. United States contributed around 78% of the total North American hybrid cloud market. It is estimated to have a market value of US$18.85 billion in the year 2022. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 16.82% and 14.36% respectively over the 2022-2028 period.
Asia Pacific hybrid cloud market is anticipated to witness an upsurge owing to the investments in IT infrastructure in emerging economies like India, China, Japan, and Singapore. Furthermore, increased adoption of advanced technologies and cloud-based solutions across verticals such as manufacturing, retail, BFSI, and healthcare present lucrative growth opportunities for the hybrid cloud market in Asia Pacific. China is expected to dominate the Asia-Pacific market and reach a market size of US$35.19 billion by 2028.
Within Europe, Germany, France, Italy and the U.K. are the key countries responsible for the significant growth of the regional market. Germany is expected to grow at a fastest CAGR of 17.14% over the forecast period.
Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing Middle Eastern nations such as Qatar, U.A.E, and Oman due to a similar growth pattern as the Asia Pacific.
Key players
Key players profiled in the report include Abiquo Europe Ltd; Amazon Web Services, Inc.; Atlantic.Net; Broadcom Inc.; Cisco Systems Inc.; Dell Inc.; Equinix, Inc.; Expedient; Fujitsu Limited; Google LLC; Hewlett Packard Enterprise Company; IBM Corp.; Microsoft Corp.; Oracle Corporation; Panzura; Rackspace Technology, Inc.; RightScale Inc.; VMware Inc., among others.
Competitive Landscape
July 12, 2023 – Broadcom Inc., a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, received conditional approval from the European Commission to complete its acquisition of VMware, Inc.
With this decision, the Commission recognizes the importance of this combination in enabling enterprises to accelerate growth and momentum in the multi-cloud ecosystem, and in expanding customer choice and creating more potential for increased innovation and competition.
July 05, 2023 – Denodo, a leader in data management, and Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, announced partnership to deliver the Denodo Platform on the Alibaba Cloud global Marketplace. This partnership enables businesses to leverage the power of data virtualization for logical data integration and management, and real-time analytics in a hybrid cloud environment.
Hybrid cloud market scope
- By component
- Solution
- Cloud management and orchestration
- Disaster Recovery and Backup
- Others
- Services
- Consulting services
- Migration and integration
- Managed services
- Others
- Solution
- By service model
- Software as a Service (SaaS)
- Platform as a Service (PaaS)
- Infrastructure as a Service (IaaS)
- Function as a Service (FaaS)
- By organization size
- Small and medium enterprises (SMEs)
- Large enterprises
- By industry vertical
- BFSI
- IT & telecommunication
- Retail & consumer goods
- Healthcare
- Manufacturing
- Government & public
- Others
- By region
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
| Report Attribute | Details |
| No. of Pages | 278 |
| Published | July-2023 |
| Forecast Period | 2022-2028 |
| Estimated Market Size in 2022 | US$70.3 billion |
| Forecasted Market Size by 2028 | US$184.7 billion |
| CAGR | 17.48% |
| Regions Covered | North America, South America, Europe, Asia Pacific, Middle East and Africa |
| Companies Mentioned | Abiquo Europe Ltd; Amazon Web Services, Inc.; Atlantic.Net; Broadcom Inc.; Cisco Systems Inc.; Dell Inc.; Equinix, Inc.; Expedient; Fujitsu Limited; Google LLC; Hewlett Packard Enterprise Company; IBM Corp.; Microsoft Corp.; Oracle Corporation; Panzura; Rackspace Technology, Inc.; RightScale Inc.; VMware Inc., among others. |
The research report provides a comprehensive review of market trends (Technology, Product and Application analysis), market growth drivers, PEST Analysis (Political, Economic, Social and Technological Analysis) Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market. The report provides market estimates and forecast for geographic markets such as the North America (United States, Canada, Mexico and Rest of North America), South America (Brazil, Argentina Chile Colombia Peru Venezuela Ecuador and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Belgium, Finland, Norway, Switzerland, Denmark, Czech Republic, Portugal and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia, Indonesia, Philippines, Malaysia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel, Oman, Bahrain, Saudi Arabia, Qatar, Egypt and Rest of Middle East) & Africa.
Research Methodology
