Software as a Service is Enhancing the Global Hybrid Cloud Market to Evolve Around 19.53% of CAGR by 2027
“According to the new market research report published by Inkwood Research, the global hybrid cloud market is growing at a CAGR of 19.53% throughout the forecasting years of 2019-2027.”
“Browse 32 market Data Tables and 41 Figures spread over 110 Pages, along with an in-depth TOC on global hybrid cloud market forecast 2019-2027.”
Hybrid cloud is an infrastructure which includes links between the private cloud and public cloud. The private cloud is the secured data center owned by the company or the user in particular. On the other hand, public cloud is a massive pool of shared resources hosted by service providers. Hybrid cloud empowers the companies and organizations to secure their valuable data. Hybrid cloud enables quick scalability to meet the increased demands and is cost effective. Due to these characteristics, many enterprises have adopted the hybrid cloud application as the next step in the evolution of cloud computing.
Complex structures of organizations has increased the need for a safe and secure system of data access. With the volumes of data managed in large enterprises and small and medium enterprises, it is essential for the organization to have secured access and storage of valuable business data. The companies are reducing costs by saving on the maintenance of IT infrastructure, hardware and software purchases by utilizing a hybrid cloud. These requirements of business enterprises are driving the demand for the hybrid cloud market.
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Cloud integration is a highly adopted application of the global hybrid cloud market
Cloud integration is the dominating application of the hybrid cloud market. Cloud integration is a combination of tools, practices and techniques which an enterprise uses to connect application and the entire IT environments. There are many types of cloud integration like cloud-to-cloud, cloud-to-local and between cloud platforms. In the absence of cloud integration, the entire task needs to be done separately and manually. Thus, companies are adopting this technology to save resources and run their business efficiently.
North America: The prime region in terms of revenue in the global hybrid cloud market
The North America region was the highest contributor in the global hybrid cloud market in 2018. The region is adopting hybrid cloud technology owing to the growing emphasis of data security and easy accessibility. The united states have been the prime revenue contributor followed by Canada. North America has a dynamic business environment with world-leading companies headquartered in this region. With excessive competition, the need for better productivity and efficiency through a centralized cloud has been witnessed. These factors are boosting the demand for the hybrid cloud market in the region.
The top players operating in the global market are Red Hat Inc., Oracle Corp, Hewlett Packard Enterprise Company, IBM, NET, Alphabet Inc., Hitachi Vantara Corp, Dell Technologies Inc, Cisco Systems Inc., Amazon Web Services Inc., CenturyLink, VMWARE Inc., Accenture, Rackspace Holding Inc., Alibaba Cloud.
The top companies are focusing on various strategies for business development such as mergers, acquisitions, partnerships, joint ventures and collaborations. The niche players in the market are witnessing innovative products which are industry-specific being launched in the market, which is leading to healthy competition amongst the companies in the market. Due to the strong position of established players like Google and Amazon, there are entry barriers for new players.
About Inkwood Research
Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy; with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.