About Hybrid Cloud in BFSI
A hybrid cloud is an integrated cloud comprises multiple computing, storage and services environments. It refers to a mixed computing, storage, and services environment of cloud service that combines private and public clouds to execute different purposes inside the same organization. Hybrid cloud is necessary due to highly changeable workloads. Hybrid cloud is used to separate banking sensitive data from low-risk data. It have several advantages such as cost effectiveness, flexibility, scalability, and high data security due to which organizations are shifting toward hybrid cloud which propels the hybrid cloud in BFSI market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 22.12% |
The hybrid cloud market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Hybrid Cloud in BFSI market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Google LLC (United States), Microsoft Corporation (United States), Alibaba Group Holding Limited (China), IBM Corporation (United States), Amazon Web Services, Inc. (United States), Hewlett Packard Enterprise Development LP (United States), Oracle Corporation (United States), Salesforce.Com, Inc. (United States), SAP SE (Germany) and VMware, Inc. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Hybrid Cloud in BFSI market by Type (Infrastructure as a Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS)) and Region.
On the basis of geography, the market of Hybrid Cloud in BFSI has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Enterprise Size, the sub-segment i.e. Large Enterprise will boost the Hybrid Cloud in BFSI market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Solutions will boost the Hybrid Cloud in BFSI market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Banking will boost the Hybrid Cloud in BFSI market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Inclination towards Hybrid cloud due to its cost effectiveness, flexibility, and scalability
Market Growth Drivers:
Rising Technological development such as Internet of Things (IoT) and Artificial Intelligence
Challenges:
Network complications
Restraints:
Concerns Regarding Cyber-attacks and other security breaches
Opportunities:
High Adoption of hybrid cloud in SMEs
Market Leaders and their expansionary development strategies
In June 2023, IBM announced it has signed an agreement to acquire Agyla SAS, a leading cloud professional services firm in France, to expand IBM Consulting’s localized cloud expertise for French clients. The acquisition will extend IBM’s portfolio of hybrid multicloud services and further advance the company’s hybrid cloud and AI strategy in the region.
In December 2023, Lenovo has announced enhancements to its hybrid cloud platform. Partnering with tech giant Intel by using their new CPUs, Lenovo aims to deliver the latest technology across the ThinkSystem portfolio. This includes new ThinkAgile hyper-converged solutions and ThinkSystem servers powered by the next generation of Intel Xeon Scalable Processors.
Key Target Audience
Hybrid Cloud Management Platform Providers, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.