Hybrid Cloud Market Outlook 2026 By Component, Size, Share, Trends, Opportunity and Forecast
According to TechSci Research, Global hybrid cloud market was valued USD45890.53 million in 2020 and is expected to grow at a CAGR of 16.63% during the forecast period. The factors that are contributing to the expansion of the global hybrid cloud market include cost effectiveness of hybrid cloud as the organizations have to pay for only what they use. Hybrid cloud meets the security and scalability requirements of the organizations, thus leading to its increased demand. Remote workforce can be easily supported, and the organizations can have better control on their confidential data by implementing hybrid cloud. The global hybrid cloud market is segmented based on component, delivery model, organization size, end user, and region. Based on the component, the market is bifurcated into service and solution. Service segment captured the majority share of 65.81% in 2020, as IT sector works on the model of service where there is long term relation between the service provider and user...