Global Hybrid Cloud Market 2019-2023|18% CAGR Projection over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--May 16, 2019--
The global hybrid cloud market is expected to post a CAGR of more than 18% during the period 2019-2023, according to the latest market research report by Technavio.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190516005721/en/
Technavio has published a new market research report on the global hybrid cloud market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global hybrid cloud market is the security and compliance benefits. Several organizations hesitate to adopt public cloud solutions owing to their security and compliance concerns. 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 they offer 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 the data access only to employees. Such security and compliance benefits of hybrid cloud solutions will fuel their demand during the forecast period.
As per Technavio, the emergence of containers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global hybrid cloud market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global hybrid cloud market: Emergence of containers to enhance hybrid cloud services
With the demand for hybrid cloud deployments increasing at a significant rate, organizations in the industry are looking for a consistent application development environment. Containers and microservices have emerged as alternative solutions 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. Containers combine all the operating system dependencies in a single package, thereby reducing the issues faced by organizations when moving applications between different environments. Containers also offer agility and cost benefits that are difficult to achieve with virtualization technologies. This and many other applications of containers are likely to make them a popular choice in the hybrid cloud market.
“Apart from the emergence of containers that may enhance hybrid cloud services, factors such as the growing demand for colocation services providers for hybrid cloud, and the increasing adoption of cloud orchestration and cloud management software will have a significant impact on the growth of the hybrid cloud market during the forecast period,” says a senior research analyst at Technavio.
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 geographic regions (North America, APAC, Europe, South America, and MEA).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. The market growth in North America can be attributed to the growing number of organizations moving their workloads from the public cloud to on-premises data centers. This is mainly due to the improved performance of on-premises systems, and growing concerns over data sovereignty issue and security issues.
Looking for more information on this market? Request a free sample report
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
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190516005721/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT INTERNET SOFTWARE
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 05/16/2019 10:21 AM/DISC: 05/16/2019 10:21 AM