Hybrid Cloud Market Size, Share, Key Players, Growing Demand and Opportunities by 2023

Hybrid cloud refers to the composition of two or more clouds (private, community or public) that remain individual entities but are bound together. Hybrid cloud offers portability of data and applications across multiple clouds and in-house IT infrastructure effortlessly. Over the recent years, the enterprise cloud strategy has become increasingly prominent and hybrid cloud computing is evolving as a default choice of users. Flexibility of switching between clouds, multiple cloud delivery models and traditional datacenter resources makes it important for companies to implement hybrid cloud.

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The global hybrid cloud market can be categorized on the basis of delivery models, solutions, and industry verticals. On the basis of delivery models, the hybrid cloud market can be categorized into Infrastructure as a Service (IaaS), Software as a Service (SaaS) and Platform as a Service (PaaS).

The main factors driving hybrid cloud market include better resource utilization, new or improved disaster recovery capabilities with the need for additional capacity and increased delivery speed of IT resources to end users. As organizations realize that a single cloud strategy is no longer sufficient in meeting various needs, they are focusing more on the hybrid cloud strategy, which is a common trend in hybrid cloud market.

The hybrid cloud systems and services are currently offered by numerous vendors such as Amazon Web Services (AWS), VMware, Microsoft, Equinix, RightScale, IBM, Cisco, HP and others. In the world in terms of geography, North America dominates the global hybrid cloud market. The hybrid cloud market is expected to grow multiple folds in next three to five years across various regions globally.