Global Hybrid Cloud Market: Snapshot
Hybrid cloud alludes to a figuring stage that consolidates both private and open cloud systems. Organizations execute hybrid cloud as an approach to build the proficiency of business forms by uniting the speed and unwavering quality of private cloud and the monetary and more adaptable nature of open cloud when contrasted with the other. The mix of two assortments of cloud systems enable organizations to abuse the advantages of both. Therefore hybrid cloud has risen as a more practical answer for organizations attempting to cut down the high costs associated with working exclusively with the assistance of private cloud.
A portion of the key elements driving the market for hybrid cloud incorporate the expanded mindfulness with respect to the high effectiveness accomplished in business forms through hybrid cloud, the rising volumes of business information, and expanded usage of Internet of Things crosswise over ventures. The rising prominence of enormous information administration devices crosswise over associations is likewise prompting the expanded joining of hybrid cloud; the esteem increments in business operations accomplished through huge information procedures can be upgraded using adaptable and good cloud systems, which permit the smooth absorption of information into the operational databases of organizations.
Despite the huge advantages of hybrid cloud, the market faces limitations, for example, the high expenses of establishment when contrasted with the establishment of a solitary cloud arrange as the previous requires the organization of two unmistakable cloud systems. Besides, the generally more up to date field of hybrid cloud could likewise imply that new sorts of information security issues may emerge. Albeit progressing mechanical advancements will probably influence the field more to secure and savvy sooner rather than later, the absence of the same by and by upsets the general development prospects of the market to a specific degree.
Global Hybrid Cloud Market: Overview
Hybrid cloud refers to a computing platform that incorporates both private and public cloud networks. Companies implement hybrid cloud as a way to increase the efficiency of business processes by bringing together the speed and reliability of private cloud and the economic and more scalable nature of public cloud as compared to the other. The combination of two varieties of cloud networks allow companies to exploit the benefits of both. Thus hybrid cloud has emerged as a more feasible solution for companies struggling to bring down the high costs involved in operating solely with the help of private cloud.
Global Hybrid Cloud Market: Trends and Opportunities
Some of the key factors driving the market for hybrid cloud include the increased awareness regarding the high efficiency achieved in business processes through hybrid cloud, the rising volumes of business data, and increased implementation of Internet of Things across industries. The rising popularity of big data management tools across organizations is also leading to the increased incorporation of hybrid cloud; the value additions in business operations achieved through big data techniques can be enhanced through the use of flexible and compatible cloud networks, which allow the smooth assimilation of data into the operational databases of companies.
Regardless of the vast benefits of hybrid cloud, the market faces restraints such as the high costs of installation as compared to the installation of a single cloud network as the former requires the deployment of two distinct cloud networks. Moreover, the relatively newer field of hybrid cloud could also mean that new kinds of data security issues might arise. Although ongoing technological developments will likely make the field more secure and cost-effective in the near future, the lack of the same presently hinders the overall growth prospects of the market to a certain extent.
Global Hybrid Cloud Market: Segmentation
The global market for hybrid cloud can be analyzed on the basis of criteria such as application, end-use sector, size of organization, service model, and geography. Key applications of hybrid cloud are found in areas such as data security, data hosting, orchestration, and disaster recovery. By end use, BFSI, IT and telecommunication, government, retail, healthcare, manufacturing, logistics are among the leading end-use segments of the market. On the basis of size of organization, the hybrid cloud market can be segmented into large-, medium, and small-sized organization. Based on service model, the market can segmented into infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS).
Global Hybrid Cloud Market: Geographical and Competitive Dynamics
From a regional perspective, the global hybrid cloud market is dominated by North America. Key factors attributable to the strong presence of the hybrid cloud market in the region include the presence of some of the world’s leading technology companies, which has made hybrid cloud networks more easily accessible than other regions, and the rising demand for industrial and business automation in the region. However, the Asia Pacific market is expected to exhibit growth at a significant pace owing to the rapid adoption of digitization across the industrial and business sectors. The rapid growth of the Asia Pacific market will make it a key contender in the global market in the next few years.
Key companies operating in the global hybrid cloud market include EMC Corporation, Amazon Web Services Inc., Hewlett Packard Enterprise Development LP, VMware Inc., IBM Corporation, Microsoft Corporation, Rackspace Inc., Cisco Systems Inc., Oracle Corporation, and Dell Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.