Rising Phenomenon of Work-from-Home and Inclination of the Industry towards the Cost-Cutting Measure Anticipated to Promote the Adoption of the Hybrid Cloud market in China!
- Vikas Kumar
- November 24, 2023
- NEWS, TELECOM & IT
- Asia-Pacific Hybrid Cloud Market Analysis, Asia-Pacific Hybrid Cloud Market Forecast, Asia-Pacific Hybrid Cloud Market Growth, Asia-Pacific Hybrid Cloud Market Outlook, Asia-Pacific Hybrid Cloud Market Share, Asia-Pacific Hybrid Cloud Market Size, Asia-Pacific Hybrid Cloud Market Trends
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China would hold the highest market size during 2023-2030 attributed to factors such as the high number of enterprises adopting cloud services solutions for optimizing their operational activity, which includes streamlining their application resource sharing, managing storage through database management, etc. At the forefront of this growth is the increasing adoption of remote working due to work-from-home adoption by a myriad of companies and industries in the region, which has been bolstered by rising adoption support and technological advancements and innovation.
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The hybrid cloud computing industry in the Asia Pacific region has been increasing rapidly, driven by the aid of burgeoning demand from companies readily digitalizing their operations due to the stressed need for catering to a wide category of customers looking for digital options for the timely rendering of services. Additionally, economic flexibility and security benefits have also promoted businesses in the Asia-pacific region to opt for hybrid solutions rather than renewing their existing on-premises systems. For instance, as per the Alibaba survey being conducted for the Asia-pacific region the investment from the businesses towards cloud computing solutions is anticipated to rise in the coming years. Various countries with the anticipated percentage increase in investment towards cloud computing are Thailand (93%), Indonesia (94%), the Philippines (91%), Hong Kong SAR (83%), and Singapore (83%).
Various other factors have also instigated the integration of hybrid cloud computing among the businesses in the region which includes email and productivity, enterprise resource planning, security, file and content storage, and database and data warehousing solutions, etc.
Many of the banks in the country have also started shifting towards hybrid and other public cloud computing networks which has proven to be instrumental in the higher demand for hybrid cloud solutions in the country.
For instance, in 2021, China’s Central bank announced its plans to upgrade the digital infrastructure for financial technology. This includes data centers and the network linking all the branches of the cloud network.
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Additionally, overall cloud computing has emerged as a major contributor to the growth of the IT services and solutions market in China. According to the China Ministry of Industry & Information Technology, enterprise demand for new digital services such as cloud computing, big data, and data centers were the biggest drivers for the increased revenue of the IT sector in 2021. Revenue from the respective categories increased by 27.8% in 2021, subsequently providing ample thrust to the IT sector in China. As hybrid cloud is a more flexible approach for the businesses in the country which have long been working on private cloud networks and seeking a bridging gap between private and public cloud computing the deployment of hybrid cloud computing solutions in China is anticipated to grow in the coming years.
The respective development easing the adoption of hybrid cloud computing services would be crucial for the upcoming surge in the demand for hybrid cloud computing solutions in the Asia-pacific region during 2023-2030.
Further, the Asia-Pacific Hybrid Cloud Market is expected to grow at a strong CAGR during the forecast period (2023-2030). China is anticipated to emerge as the fastest-growing automotive solenoid market, primarily owing to the surge in industry development and government incentives and in terms of the establishment of new businesses in the country. Furthermore, the technological advancements in countries such as India, China, and Japan have massively created the demand for the hybrid cloud market.
