02 Nov 2017
Worldwide Data Services for Hybrid Cloud Forecast Reveals Rapid Growth, According to IDC
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.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading media, data and marketing services company that activates and engages the most influential technology buyers. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn.