Hybrid Cloud Management Platform Market
Published on : Nov-2022
Cloud computing provides various services through the Internet such as data storage, databases, servers, software networking, etc. It is an on-demand availability of resources, especially computing power and cloud storage (data storage). Different types of cloud management platforms include Public, Private, and Hybrid. A hybrid cloud is an arrangement of both private cloud and public environment.
A hybrid cloud is a combination of public and private cloud environments, such as a private cloud or on-premises resources that remain discrete units but are bound together, offering the benefits of multiple deployment models. The hybrid cloud holds the capabilities of managing and/or dedicating services with cloud resources and connecting collocation. It enables to extend capability or capacity of a cloud service, by integration, aggregation, or customization with another cloud service.
Cloud computing has drastically reduced latency between users and far away data centers due to enabled higher Internet speeds which have reduced data storage costs. Business models have been transformed using the cloud since they reduced the requirement for in-house IT expertise, offer consistent application rollout and flexibility for scaling and maintenance. Countries, where the cost of licensed software could be a barrier in providing services and creating applications, free cloud-services such as office-like application tools useful for micro, small and medium enterprises (MSMEs), facilitates them with better alternatives.
However, in many developing countries, high costs of additional international bandwidth to access overseas servers and data centers still limit the uptake of cloud services. Most cloud traffic is generated in North America, followed by the Asia Pacific and Western Europe, which together account for about 90% of all cloud traffic (figure I.3). From 2016 to 2021, the fastest annual growth rate in cloud traffic is expected to occur in the Middle East and Africa, at 35%, followed by Central and Eastern Europe and the Asia Pacific, each with a growth rate of 29%. The cloud market is also highly concentrated. According to Synergy Research Group (2019), the share of the top five providers − Amazon Web Services (AWS), Microsoft, Google, IBM, and Alibaba − in the global cloud infrastructure services market exceeds 75%, with AWS alone accounting for over a third of that market.
With mounting digitalization and abundant data storage requirements businesses are adopting cloud computing services to reduce their operational costs for on-premises data storage and processing techniques around the world. Hybrid management platform provides flexibility, speedy deployments and resilience proving it to be the most cost-effective alternate among private and public computing platforms. Hybrid computing provides a multi-cloud environment where workloads can be deployed into the best location private or public based on performance needs, scalability and security. As of 2018, enterprises in France have adopted cloud computing services with 65.26% followed by Korea with 58.7% and Switzerland with 57.21%.
Fatpos Global predicts that the hybrid management platform is anticipated to observe a boost in growth in the market due to the increasing percentage of adoption of cloud computing services by the business and rising cloud traffic. Moreover, hybrid management platform offers cost-effective and flexible services in comparison to public and private cloud services which makes it more preferable by the enterprises.