A new report released by MarketsandMarkets
suggests that the global hybrid cloud market is expected to increase in value significantly by 2021. MarketsandMarkets, which has headquarters in Pune, Maharashtra, India, considered a wide variety of cloud areas including cloud management and orchestration, security and compliance, disaster recovery, and hybrid hosting. The report also considered the Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS) service models.
According to the report the market is likely to grow from its current value of $33.28 billion to $91.74 billion by 2021. The growth will be fueled by a move in the market towards scalable and flexible cloud-based services alongside growth in the analytics market. The growth represents “immense opportunities to the hybrid cloud solution and service vendors”. However, the disaster recovery market is also projected to experience significant growth in the period. While hybrid hosting will have the largest market share, disaster recovery will have the fastest growth.
The report goes on to suggest that North America will have the bulk of the hybrid cloud market share, while the APAC region represents the area with the greatest hybrid cloud market growth. This will be driven by increased data center utilization alongside an increase in companies utilizing hybrid cloud computing as a means of merging private and public operations. Companies expected to benefit from this growth include Microsoft Corporation, Hewlett-Packard (HP) IBM Corporation, Cisco Systems, AWS and Oracle. What do you think about the future of the global hybrid cloud market? Let us know your thoughts. Add your comments below.