The hybrid cloud market is valued at USD 89.8 Bn in 2021 and is projected to reach USD 283.9 Bn by 2027, growing at a CAGR of 21.13% from 2021 to 2027.
The rapid development and delivery of digital products and services during the pandemic were largely possible due to Cloud adoption across global industries.
Today, hybrid/multi-cloud as an integrated cloud service is being extensively used to perform distinctive functions in the same organization. From remote workforce management to minimizing the cost of operations and improving scalability, the hybrid cloud is preparing for a digital-first future.
Cloud services such as Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (Saas) are transforming the outlook of global industries.
As enterprises continue their cloud migration for digital transformation, more companies will shift to hybrid/multi-cloud environments to distribute their workload. This fosters innovation by aligning workloads with the cloud service that is best for particular use cases.
Let us analyze the hybrid/multi-cloud ecosystem through
Key Growth Drivers of Hybrid/Multi-Cloud Tech
Rapid digitalization, along with the widespread adoption of cloud-computing services, is one of the key factors driving the market’s growth. Other key growth drivers include:
- Increasing adoption of multi-cloud spaces and SaaS are the hybrid cloud market trends that add to market growth.
- Various technological advancements, such as the integration of Artificial Intelligence (AI), the Internet of Things (IoT), Machine Learning (ML), and Edge Computing, are enhancing the functioning of hybrid cloud systems.
- Increase to avoid vendor-lock in and growing demand for agile, scalable, and cost-efficient computing.
Download the Snippets to gain a comprehensive view of the Hybrid/Multi-Cloud Ecosystem and detailed insights on key growth drivers in the industry.
Key Emerging Hybrid/Multi-Cloud Trends
Cloud is inarguably one of the fastest developing technologies of 2022. The rapid rise in its adoption and development has led to the emergence of influential trends. These trends will cement the foundation of the cloud as a technology that goes hand-in-hand with businesses.
Some of the key Hybrid/Multi-Cloud Trends include:
Automated Cloud Orchestration and Optimization: Cloud platforms will continue to evolve automated cloud orchestration and optimization to manage interconnected services’ quality and quantity across applications. Automated service and performance management will most likely be the key elements to be considered while choosing a cloud provider in 2021.
Edge Computing: Edge computing has emerged as one of the most powerful trends in Hybrid/Multi-Cloud since it is an openly hybrid approach to computing. It spans from the enterprise computing core to the edge of telco and other service provider networks and, from there, to user sites and sensor networks.
Hybrid Cloud Computing: A majority of global organizations are increasingly deploying hybrid cloud computing systems to optimize their workflows and production. Data suggests that companies will most likely shift to hybrid by the end of 2022, as it is ideal for speed, control, and enhanced security.
AI in Cloud Computing: The development and evolution of cloud and AI as complementary technologies is inextricably linked. This could most effectively emerge as a solid trend by the end of 2022 and beyond.
Cloud-Native Technologies: Cloud-native technologies will usher in a new era of distributed enterprise analytics software that will help companies build, migrate, and modernize customer-facing analytics and AI apps efficiently and at scale.
Go-to IT infrastructure Model: Hybrid cloud continues to grow and become the dominant IT model as businesses combine public cloud, private cloud, and on-premises Infrastructure to meet their business needs and drive growth.
Hybrid Cloud Automation: Intelligence-infused cloud-native solutions will enable enterprises with automation, lower maintenance costs, optimal use of resources, advanced AI applications, and better customer experience. This whole process will be about transforming complex IT and simplifying business operations by leveraging AI and driving cloud automation.
Cloud Security: Automating the cloud security process enables organizations to gather the information they need to secure their cloud environments and redirect their efforts towards innovation and growth.
Overview of Hybrid/Multi-Cloud Governance Operations
Cloud governance operations help organizations optimize their business strategy by using the right combination of on-premises and cloud services. Multi-cloud governance is essential for the fast delivery of cloud services while balancing enterprise budget control, visibility, security, and compliance.
Data suggests that Hybrid/Multi-cloud and Edge deployment strategies with a unified operations approach can rapidly accelerate cloud adoption and migration for organizations.
A more competent model for governing cloud data primarily relates to optimizing assets for their workloads and storing the data in the most cost-effective location.
Some of the key types of Hybrid/Multi-Cloud Governance Operations for 2022 include:
- Operational Governance: This includes system testing, cost-cutting measures, terminating unused ZOMBIE assets, and scheduling stop/start timing for non-production instances used in the development, software testing, staging, and QA.
- Cost Optimization: A cost optimization policy minimizes cost by staying updated with opportunities to take advantage of committed use discounts and modifying occasions when committed use discounts are not being utilized fully.
- Financial Management: It consists of budget policies and cost trend policies. Financial Governance helps to determine whether budgets will meet the target or if the enterprises will need to adjust.
- Asset & configuration management: It helps to identify non-conforming assets, like those that exceed the permitted capacity or are incompatible with existing assets.
- Security & Incident management: Quality governance solutions cover multiple cloud security components and may need to be subdivided into smaller principles to address targeted issues in cloud management.
Key Opportunity Areas
The rapid pace of the Cloud computing industry is also an exciting gateway to opportunities for service providers in 2022. Service providers can identify a variety of use cases and present hyper-targeted solutions to help their prospects. Some of the key emerging opportunities are in the areas of:
- Digital Workspace Management by AI/ML, IoT, and Cloud Platform
- Enterprise Modernization by AI/ML, IoT, and Cloud Platform
- Hybrid Cloud Network by IoT, AI, Cloud, Analytics, Edge Computing Platform
- Cloud Automation by AI, IoT, Automation Platform
- Network Virtualization by AI/ML, Data Analytics, Cloud Platform
- Cloud Security Solutions by Edge Computing, AI/ML Platform
- Cloud-Native Application Development by Cloud-Native Technologies, AI/ML Platform
- AI in Cloud Computing by AI/ML, Analytics Platform
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