Share
Hybrid Cloud Management Platform Market By Component (Solution [Software and Hardware] and Services);By Service Model (Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS)); By Organization Size (Large Enterprises, and Small & Medium Enterprises); By Industry Vertical (IT & Telecom, Healthcare, BFSI, Retail, Government, Media & Entertainment, Transportation & Logistics, Manufacturing, and Others)and Region - Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030
Hybrid Cloud Management Platform Market was estimated at USD 60.4 billion in 2021 and is expected to hit USD 281.3 billion by 2030, rising at a CAGR of 18.30% from 2021 to 2030.
A hybrid cloud refers to a hybrid ecosystem of on-premises infrastructure, storage, and services with an integrated cloud infrastructure that utilizes both private cloud providers and a public cloud with an orchestration of various networks to perform distinct functions within the same enterprise in a data center and because of the simplicity and complex nature of the work, the importance of hybrid cloud has increased.
Hybrid Cloud Management Platform Market is expected to project a CAGR of 18.30% during the forecast period, 2021-2030
Hybrid cloud deployment has become the most appropriate solution for companies across all regions. Due to the high flexibility, improved scalability, low cost, and secure implementation options, enterprises adopt the hybrid cloud and it has become a central part of the business process and is expected to accelerate in the coming years.
During the forecast period, the service segment is expected to grow at a higher CAGR, and the solution segment is estimated to hold a bigger market size in the hybrid cloud market in 2018.
The hybrid hosting segment is estimated to hold the largest market size in 2018
It offers several benefits, such as access through a single point of contact; network infrastructure sharing; and hosting services monitoring, delivery, and management. Organizations are improving their ability to create a hybrid hosting system by combining co-location, dedicated servers, and virtualized environments.
Throughout the forecast period, the segment Infrastructure as a Service (IaaS) is projected to have the largest market share
IaaS allows shift workloads during high demand from on-premise systems to the cloud. It advantages assistance in allocating capital for more significant business processes. Organizations can improve their performance, boost delivery speed, enhance productivity, and provide flexible computing capabilities in both the private and public cloud environments.
Increasing demand for agile, scalable, and cost-effective computing
Enterprises utilize the hybrid cloud model to remove the market problems with conventional IT infrastructure that are hard to tackle. The hybrid cloud fills the gap between IT and enterprises by improving agility and performance and quickly delivering low-cost IT services. It emboldens businesses to expand their applications and infrastructure as needed and provides high-speed performance and high availability for users. The hybrid cloud provides economies of scale. Given that the availability of secure, scalable, and cost-effective tools can provide more opportunities for firms to explore new operational avenues, it would push organizations to adopt the hybrid cloud environment.
Lack of awareness regarding data protection and privacy
The lack of understanding about privacy and security issues hinders hybrid cloud adoption. Low-level awareness of the protection advantages the hybrid cloud provides impacts its app adoption rate. Security and data security risks prohibit organizations from bringing their operations into the cloud. The lack of information regarding cloud infrastructure governance expands hybrid-cloud constraints. Cloud operations, therefore, need to be constantly controlled to reduce risks and improve security features.
The hybrid Cloud Management Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA. In the 2020-2030 forecast period, North America is predicted to hold the largest market share, while Asia Pacific (APAC) is projected to rise at the highest CAGR in the hybrid cloud market over the forecast period. Market growth is reflected in the increasing number of vertical adoptions of hybrid cloud-based services and increasing IT skills to develop robust hybrid cloud services that enable heavy investment in emerging economies like China, India, and other Southeast Asian nations.
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