There’s no question that demand for cloud services is going through the roof right now. Towards the end of 2023, Gartner predicted the cloud market would grow 20.4% to total $678.8 billion in 2024, up from $563.6 billion the previous year, and that certainly seems to be an optimistic forecast if Hyve Managed Hosting’s experience is anything to go by.
Based in Brighton, UK, Hyve says it has seen significant growth with a 51% increase in revenue over the past three years.
This expansion comes from rising demand for bespoke cloud services and has led to the firm opening a new office in Austin, Texas, resulting in a doubling its US customer base since the start of the year.
Looking ahead
Charlotte Webb, Hyve’s Global Marketing and Operations Director, said, “The US continues to prove its status as a leader when it comes to considered cloud adoption, with the market already representing a large proportion of our revenue.”
Hyve has also opened an office in Berlin, which Webb says helps the firm “seamlessly and securely serve EU customers, especially paying attention to helping them navigate compliance with data sovereignty and data protection regulations.”
Talking about how combining AI with cloud computing directly benefits companies, Webb said, “The partnership of AI & Machine Learning with cloud computing allows the opportunity to build and implement easily accessible AI solutions on a large scale. Cloud is already playing a large part in digital transformation for business, adding in AI supercharges this debate. Cloud computing helps companies to be more agile and flexible and provides cost benefits by hosting data and applications on the cloud. Adding AI generates insights from the data. It gives 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 US team in the next quarter and is exploring opportunities for expansion in the Asia-Pacific region, focusing on potential projects in Australia.
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