The global hybrid cloud market is expected to post a CAGR of over 18% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global hybrid cloud market 2019-2023. (Graphic: Business Wire)
Security and compliance concerns are the biggest issues faced by public cloud solutions which prevent enterprises from adopting these solutions. Although service providers implement features such as secure multitenancy, the nature of the public cloud service leaves them open to attacks from hackers. In addition, there are many regulations that impose certain restrictions on where the data can be stored. Hence, the adoption of hybrid cloud solutions is increasing as it offers organizations the flexibility to store their critical data on-premises and move the less important data to the public cloud. Hybrid cloud solutions provide higher design and architecture flexibility, coupled with a higher level of security. These solutions allow organizations to use a firewall in the private cloud component, thereby restricting data access only to authorized employees. Such security and compliance benefits of hybrid cloud solutions will fuel their demand during the forecast period.
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As per Technavio, the containers enhancing hybrid cloud services, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Hybrid Cloud Market: Containers Enhancing Hybrid Cloud Services
Increasing hybrid cloud deployments require a consistent application development environment. Containers and microservices have emerged as an alternative solution to virtual machines, which consume large amount of resources. Containers do not need a guest operating system or a hypervisor as they share the kernel of the operating system. They combine all the operating system dependencies in a single package, thereby reducing the issues faced by the organization when moving applications between different environments. Containers also offer agility and cost benefits that are difficult to achieve with virtualization technologies. These applications of containers are likely to make them a popular choice in the hybrid cloud industry, which will propel market growth.
“The simplification of disaster recovery by hybrid cloud services and the use of hybrid cloud solutions to lower TCO are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Hybrid Cloud Market: Segmentation Analysis
This market research report segments the global hybrid cloud market by end-user (BFSI, retail, healthcare, telecom, and others) and geographical regions (North America, Europe, APAC, South America, and MEA).
The North American region led the market share in 2018, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market. This is due to the presence of prominent vendors in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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