There’s no doubt that demand for cloud services is sky-high right now. By the end of 2023, Gartner predicted that the cloud market would grow by 20.4% to reach a total of $678.8 billion in 2024, up from $563.6 billion the year before – and that certainly seems to be an optimistic forecast based on Hyve Managed Hosting’s experience.
Headquartered in Brighton, UK, Hyve claims to have seen significant growth with revenue up 51% over the past three years.
This expansion stems from the growing demand for tailored cloud services and has led the company to open a new office in Austin, Texas, doubling its US customer base since the beginning of the year.
Looking to the future
Charlotte Webb, Global Head of Marketing and Operations at Hyve, said: “The US continues to demonstrate its leadership in thoughtful cloud adoption, with the market already accounting for a large proportion of our revenue.”
Hyve has also opened an office in Berlin, which Webb said helps the company “securely and seamlessly serve EU customers, with a particular focus on helping them comply with data sovereignty and protection regulations.”
Speaking on how combining AI with cloud computing directly benefits businesses, Webb said, “The partnership of AI and machine learning with cloud computing enables the opportunity to build and deploy easily accessible AI solutions at scale. The cloud is already playing a major role in the digital transformation of businesses, and incorporating AI supercharges this conversation. Cloud computing helps businesses become more agile and flexible and offers cost benefits by hosting data and applications in the cloud. Incorporating AI generates insights from data. It provides intelligence to existing capabilities. This results in a powerful and unique combination that can be used as a competitive advantage.”
Looking ahead, the company says it plans to double its U.S. team in the next quarter and is exploring expansion opportunities in the Asia-Pacific region, focusing on potential projects in Australia.
