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Hybrid Cloud Market - Global Forecast to 2023 - Rising Need for Interoperability Standards Between Cloud Services and Existing SystemsDUBLIN, Aug. 30, 2018 /PRNewswire/ --
The "Hybrid Cloud Market by Component, Service Type (Cloud Management and Orchestration, Disaster Recovery, and Hybrid Hosting), Service Model, Organization Size (SMEs and Large Enterprises), Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering. The hybrid cloud market is expected to grow from USD 44.60 billion in 2018 to USD 97.64 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 17.0% during the forecast period. The demand for hybrid cloud is expected to be driven by several factors, such as cost efficiency, scalability, agility, and security. Hybrid cloud bridges the gap between Information Technology (IT) and businesses by improving agility and efficiency, as well as by rapidly delivering IT resources at a low-cost. The hybrid cloud market has been segmented on the basis of components (solution and services), service types, service models, organization size, verticals, and regions. The services segment is expected to grow at a higher CAGR during the forecast period, and the solution segment is estimated to hold a larger market size in 2018 in the market. The adoption of the hybrid cloud among enterprises has become a central part of the business process, due to the high flexibility, enhanced scalability, low cost, and secured deployment options, and is expected to grow in the coming years. The hybrid hosting segment is estimated to hold the largest market size in 2018, as it offers numerous benefits, such as access through a single point of contact; sharing the network infrastructure; and monitoring, delivering, and managing hosting services. Organizations are enhancing their ability to integrate co-location, dedicated servers, and virtualized environments to construct a hybrid hosting environment. The Infrastructure-as-a-Service (IaaS) segment is expected to hold the largest market size during the forecast period. IaaS helps in transferring workloads from on-premises systems to the cloud during the peak demand. This advantage helps allocate resources for more important business processes. Organizations can enhance their performance, increase delivery speed, improve productivity, and provide flexible computing capabilities, both in the public and private cloud environments. North America is estimated to hold the largest market size in 2018, whereas Asia Pacific (APAC) is projected to grow at the highest CAGR in the hybrid cloud market during the orecast period. Hybrid cloud deployment has become the most suitable solution for organizations across all regions. The major factors that would further drive the growth of the hybrid cloud market are the presence of a dynamic business environment, increasing adoption of multiple cloud services for cost savings, and an indispensable need to achieve better productivity and efficiency through centralized cloud governance. The rising need for more computational power and rapidly increasing adoption rate of the hybrid cloud are expected to open new avenues for the hybrid cloud market. Key Topics Covered: 1 Introduction 2 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/research/58j3hk/hybrid_cloud?w=5 Media Contact: Laura Wood, Senior Manager
SOURCE Research and Markets 
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