Hybrid cloud by its name is a combination of private and public cloud model elements that are connected over the internet through virtual private networks (VPN) or another dedicated private channel. A typical example of this combination would look like this - using unlimited storage on a public cloud and using your private cloud solutions for data processing or businesses could extend their computer network into the public cloud to save having to buy additional permanent hardware. 

There are several benefits of the Hybrid Cloud - 

• A Hybrid cloud offers benefits of both public and private cloud models.
• It makes Cloud Bursting possible. In this approach, all the applications are supported through the private cloud but when the demand increases and the private cloud can no longer support operations, it is the public cloud that is used to support and supplement the private cloud. 
• Businesses can also use a mix of both private and public models at the same time, for example, a business can store mission-critical applications and information in the private cloud under increased security and the non-mission-critical applications can be stored in the public cloud segment. 
• This is a cost-effective way for businesses to increase computing capacity on demand while still utilising the already paid or on-premise resources. 

The hybrid cloud market had an estimated value of $52 billion in 2020 and is expected to maintain a compound annual growth rate (CAGR) of 18.73% and is expected to reach a value of $145 billion by 2026. 

The leading industries benefiting greatly from hybrid cloud models are - government, healthcare, banking, financial services and insurance (BFSI), IT and communications, and media and entertainment. 

In terms of the demand from the industry, the retail sector has a 21 % rate of hybrid cloud deployment which is one of the highest rates of hybrid cloud deployment, wherein 91% of companies surveyed in the sector called the hybrid cloud solutions ideal. 

There are several regions that are driving the hybrid cloud market - 

• The Asia-pacific region is expected to have the highest growth rate of CAGR (compound annual growth rate) of 29.11%
• Europe has the second largest hybrid cloud market share and is expected to grow at a CAGR of 24.13% until 2025. 
• As for the North American market, it is predicted to reach $14.02 billion by 2025 following a CAGR of 23.81%
• The remaining parts of the global market combined are expected to maintain a CAGR of 20.22%

Based on a survey conducted by Hornetsecurity covering over 900 IT professionals in Europe and North America, it is estimated that over 93% of businesses are going to adopt hybrid cloud solutions within the next five years. 

Some of the leading vendors in the hybrid cloud space include - Microsoft, IBM, Citrix, Cisco, AWS, Dell Technologies, Hewlett Packard Enterprise (HPE), google, and NetApp. 

Knowing about the different types of cloud computing solutions, their respective elements, and how their markets operate and evolve over time is going to help businesses choose the right model that suits their requirements. In order to migrate to the cloud and progress towards digital transformation, great cloud talent is vital. Savant is informed by robust market research and anticipates the growth in the cloud technology sector; we are prepared to meet our client’s potential talent needs in their transformation journeys through our extensive network of cloud professionals. To know more about how we can support you, reach out to us at - technology@savantrecruitment.com for a free consultation!