Worldwide data services for hybrid cloud forecast reveals rapid growth, according to IDC
Nov 2, 2017
FRAMINGHAM, Mass., November 2, 2017 – In a newly published study, International Data Corporation (IDC) forecasts that worldwide data services for hybrid cloud (DSH) revenues will reach $68.8 billion by 2021. According to the forecast, the DSH market is expected to grow at a five-year compound annual growth rate (CAGR) of 20%, which is 15 percentage points faster than the worldwide software market.
As the abundance of data grows in amount and variety, business leaders will need to assess what data is most important, and the enterprises who can analyze and use data to drive meaningful user experiences will be the ones who thrive.
"There are three significant shifts happening in the DSH market that are reflected in this forecast. First, the rapid growth of data location optimization services employing cognitive/machine-learning; second, the growth of integration and orchestration software with an ongoing shift to hybrid/multicloud; and third, growth in security and compliance data services with heightened emphasis on regulatory compliance and an ongoing increase in security breaches," said Ritu Jyoti, research director on IDC's Enterprise Storage, Server and Infrastructure Software team.
The IDC study, Worldwide Data Services for Hybrid Cloud Forecast, 2017-2021 (IDC #U3004417), provides a forecast of data services for hybrid cloud (DSH) through an analysis of worldwide and U.S. DSH markets.
In the inaugural Worldwide Data Services for Hybrid Cloud Taxonomy, 2017 (#US42598817), IDC defines a competitive market with key technology offerings that can help end-users accelerate their digital transformation (DX) journey, get timely insights, and gain sustainable competitive differentiation and advantage.