According to the report published by Allied Market Research, the global hybrid cloud in BFSI market generated $7.98 billion in 2020, and is projected to reach $36.15 billion by 2030, witnessing a CAGR of 14.2% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Shift in preference toward hybrid cloud, growth in digital disruptions, and technological advances such as the integration of edge computing, internet of things (IoT), and artificial intelligence drive the growth of the global hybrid cloud in BFSI market. However, network complications and growth in security concerns restrain the market to some extent. On the other hand, rise in adoption among small and medium organizations presents new opportunities in the upcoming years.
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The outbreak of the COVID-19 pandemic led to a significant growth of the global hybrid cloud in BFSI market, owing to increase in demand for more computing power among banks and fintech sector than before.
Implementation of global lockdown by governments in the majority of the countries and shutdown of the businesses across the globe resulted in the growth of digital banking among the users.
Moreover, most banks and financial institutes have experienced an increase in usage of hybrid cloud owing to increase in the digital transformation among the banks and fintech sector.
The report offers detailed segmentation of the global hybrid cloud in BFSI market based on component, type, end user, enterprise size, and region.
Based on component, the solution segment held the highest market share in 2020, holding around four-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the service segment is estimated to register the highest CAGR of 18.1% from 2021 to 2030.
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Based on enterprise size, the large enterprises segment held the largest market share in 2020, holding around two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. However, the SMEs segment is projected to register the highest CAGR of 17.8% from 2021 to 2030.
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding around half of the total market share, and is estimated to continue its dominant share by 2030. Moreover, Asia-Pacific is projected to manifest the fastest CAGR of 18.8% during the forecast period. Other regions discussed in the report include Europe and LAMEA.
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Leading players of the global hybrid cloud in BFSI market analyzed in the research include Alibaba Group Holding Limited, Amazon Web Services, Inc., Google LLC, Hewlett Packard Enterprise Development LP, IBM Corporation, Microsoft Corporation, Oracle Corporation, Salesforce.Com, Inc., SAP SE, and VMware, Inc.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.