Hybrid cloud service allows companies to scale computing resources which provides flexibility and computing power of the public cloud for basic and non-sensitive computing tasks by utilizing both private and public cloud. IndustryResearch’s Hybrid Cloud Market Report shows that the global hybrid cloud market was valued at USD 38.49 billion in 2018. It is expected to reach a value of USD 1.052.34 trillion by 2024, at a CAGR of 18.73%, during the forecast period (2019 – 2024).
A significant overall growth
When we compared the hybrid cloud market with the other cloud services, the hybrid cloud market has experienced significant overall growth in the past few years. It is also possible to say that the decline of traditional data center outsourcing (DCO) indicates a massive shift toward hybrid infrastructure services.
In terms of security, to protect hybrid cloud environments against cyber attacks is complex as multiple users are accessing multiple environments from multiple locations. Enterprises are using hybrid cloud to host their e-commerce website within a private cloud, to ensure its safety. Public cloud is a more cost-effective way for other uses, such as placing a brochure site.
The Asia Pacific will have the highest market share
It is estimated that the Asia Pacific will grow at the highest rate over the forecast period owing to the presence of a huge and wide-spread consumer base in countries like China and India. Due to the scalability it affords, coupled with the provision of increased visibility and control, hybrid cloud models are preferred in the region as a viable IT infrastructure choice.
Increasing demand for cloud technology has led domestic and foreign IT companies. They introduce new cloud services for Chinese consumers and businesses. For instance, Microsoft unveiled Azure Stack in the country, which is an extension of the company’s Azure Cloud platform.