Northrook, IL -- (SBWIRE) -- 11/12/2019 -- The Hybrid Cloud Market is expected to grow from USD 44.6 billion in 2018 to USD 97.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 17.0% as per a report by MarketsandMarkets.

Why growing need for more computational power is an opportunity?

In the era of the hybrid cloud environment, the rising need for more computational power would prove to be a huge growth opportunity. With the advantages of scalability and flexibility, hybrid cloud is best suited for high computational needs. The hybrid cloud helps organization easily manage large volumes of sensitive data used in analytics. The analytical process can be faster with the hybrid cloud, as it can be processed across multiple servers at once. In other words, if an organization needs to increase its compute power, it can be done through the hybrid cloud. For instance, predictive and advanced analytics need scalability and flexibility capabilities. Thus, the mature analytics market is expected to provide significant growth opportunities for hybrid cloud solution and service providers.

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How workload complexities in hybrid cloud environment could pose a key challenge?

With the advent of the hybrid cloud environment, the workload of applications and services are constantly increasing, leading to further workload complexities. Workload complexities are more prevalent in the hybrid cloud environment than in the single cloud architecture. Organizations are collecting, storing, and analyzing critical data in an efficient manner and making the data easily accessible. In the hybrid cloud environment, enterprises utilize different environments which often work as a unified system. Thus, there is a need for reliable, high-performing back-end integration between systems, which will enable companies to control all of their applications. Businesses can thrive by utilizing a solution that reduces the workload complexity in the hybrid cloud environment.

The services segment is expected to witness a higher growth rate over the next 5 years. The hybrid cloud market comprises professional and managed services. On the basis of professional services, the market has been segmented into training, education and consulting, and support and maintenance. Managed services are focused on services quality and end-user experience while delivering speed, cost optimization, and quality of services.

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The disaster recovery segment is expected to grow at the highest rate over the next 5 years. Disaster recovery ensures business continuity and data backup, thereby enabling enterprises to reduce the recovery time after a major failure. With the implementation of the hybrid cloud model, enterprises can utilize the benefits of both public and private clouds. IT administrators can prioritize their data based on its criticality and accordingly their workloads are migrated to either public or private cloud, thus enabling the backup and recovery of data and applications on secondary storage.

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