Hyve Managed Hosting, a global cloud hosting provider, has announced a period of exceptional growth as it continues to expand globally. The company’s revenue has grown by 51% over the past three years, and earlier this year, Hyve set up a US hub in Austin, Texas, and a European hub in Berlin, Germany, in order to meet growing global demand for bespoke cloud services. Since then, the cloud computing company has doubled its US customer base. As growth continues to accelerate, the company projects global operational growth of 50% year-on-year for the next three years – in both customers and turnover.
Gartner expects the global cloud market to grow 20.4% to total US$678.8 billion in 2024, up from US$563.6 billion in 2023, while predicting the cloud will have shifted from technology disruptor to business necessity by 2028. Hyve is seeing huge demand for its bespoke approach to building and maintaining cloud stacks. Buoyed by a shift in demand towards managed hybrid and multi-cloud environments, the UK-born cloud provider has onboarded 46% of its current customers since 2020, with its US customer base doubling since the start of 2024.
Hyve’s global headcount has grown by 33% in the past year to accommodate an expanding customer base and streamline operations within new international hubs. The company has also made a number of strategic senior appointments to ensure continued growth is sustainable, including promoting home-grown talent Charlotte Webb to Marketing and Operations Director globally.
“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,” said Webb. “Meanwhile, our new Berlin office helps us seamlessly and securely serve EU customers, especially paying attention to helping them navigate compliance with data sovereignty and data protection regulations.”
The company’s proficiency in managing cloud resources end-to-end and unique approach to building solutions tailored to each business’s needs have attracted a swathe of new customers who need help getting their cloud resources under control, especially in the US, where there has been particular growth in the AI and logistics industries.
“Hyve understood our unique mission to create a more transparent and accessible approach to AI and helped us come up with a hosting solution finely-tuned to our business goals to reflect this,” said Vadim Asadov, VP of Symbolic Mind. “Before our collaboration with Hyve, it seemed impossible to build the server we needed, or else the cost was prohibitive. Working with Hyve was so straightforward. The team was transparent and communicative throughout, and we were able to see and understand the whole process. I have no doubt this will be a very beneficial and long-term relationship.”
Motivated by the successful establishment of the new global hubs, Hyve is looking to capitalise on its growth and double its headcount in the US office in the next quarter alone. The company also plans to focus on teaming up with strategic channel partners to support its tailor-made approach through the next stage of its growth.
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