In Q1 2023, global cloud infrastructure service spending grew by more than $10 billion compared to Q1 2022, bringing total spending to $63.7 billion for the first three months of this year. Looking at the trailing twelve months, the cloud Market is now a $237-billion opportunity, explaining why it’s so fiercely contested. As the following chart shows, Amazon, Microsoft and Google accounted for two thirds of cloud infrastructure revenues in the three months ended March 31, with the eight largest providers controlling almost 80 percent of the market.

Hybrid Cloud Market to Grow at 19% during 2022 2030: The global Hybrid Cloud Market is growing at a high CAGR because of the increasing adoption of cloud-based solutions post the COVID-19 pandemic. We always oversee the market – now  the market is also being strengthened by a growing focus on business efficiency and scalability. Enterprise spending on cloud infrastructure services reached $63.7 billion in first quarter 2023, according to data from Synergy Research Group. This represents total cloud computing services sales growth of 20 percent, or over $10 billion, year over year compared to first quarter 2022.

By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by16.5% year over year, while Italy ha s decreased by 0.2%.

Amazon’s market share in the worldwide cloud infrastructure market amounted to 32 percent in the first quarter of 2023, continuing a slight downward trend that saw its market share slip from 34 percent in Q3 2022, to 33 percent in Q4 2022. At the same time, Microsoft gained two points since Q3 2022 and now sits at 23 percent market share, gradually eating away at Amazon’s lead.

Sequentially, first quarter 2023 cloud services grew four percent compared to four quarter 2022. This shows that despite the economic climate which has constrained some growth in cloud spending for enterprises, the market continues to expand at a healthy rate.

Report reveals – recently analyzed the worldwide “Hybrid Cloud Market” industry, employing segmentation based on Geographical Regions, Country, Company, Types, and Applications. Within the Beauty and Personal Care Packaging sector, numerous prominent Key Players[Cisco Systems Inc., NTT Communications Corporation, Hewlett Packard Enterprise Company, Fujitsu Ltd., Amazon Web Services, Intel Corporation, Citrix Systems Inc., Dell EMC, IBM Corporation, RightScale Inc., Alibaba Group Holding Limited, Panzura Inc., Rackspace US Inc., Vmware Inc], have emerged as leaders by implementing diverse strategies aimed at extending their market presence and strengthening their industry position., ICT vendors now annually set aside funding for the growth of the online market. Global ICT exports are anticipated to increase 3.9% on average year fromUS$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169.32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by228.2%year over year, while Sierra Leone has decreased by 61.7% year over year.

A recent study conducted by the strategic consulting and market research firm Report Ocean revealed that the global hybrid cloud market was worth USD 60.6 billion in the year 2021. The market is estimated to grow at a CAGR of 19.40%, earning revenue of around USD 209.8 billion by the end of 2028. The hybrid cloud market is flourishing at a high rate owing to the increasing adoption of cloud-based solutions post the COVID-19 pandemic and the growing focus on boosting business efficiency and scalability. Adding and  subtracting –  the growing adoption of advanced technologies, such as artificial intelligence (AI), IoT, big data, etc., that is generating huge volumes of data, is also providing lucrative growth opportunities to the global hybrid cloud market. Howsoever, high insecurity regarding privacy and data protection may act as a huge restraint for the markets growth.

Impact of COVID-19 on the Global Hybrid Cloud Market:  COVID-19 pandemic outbreak emerged as a major driving factor for the global hybrid cloud market. Why it is useful to a wide range of organisations? Through the application of hybrid cloud services and solutions, the companies were able to overcome the challenge of mobility restrictions and deliver their services to their customers besides exploiting various growth opportunities. In addition, the transition to a work-from-home scenario provided lucrative growth prospects to the market. All the organizations can also maximize cybersecurity when dealing with data breaches and attacks using the private and public cloud models.

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