  The paper deals with the study of the dynamics of Universe within the
framework of a spatially homogeneous Bianchi-V space-time filled with a perfect
fluid composed of non-interacting matter and dynamical dark energy components.
We determine the Bianchi-V space-time by considering hybrid expansion law (HEL)
for the average scale factor that yields power-law and exponential-law
cosmologies in its special cases. In the HEL cosmology, the Universe exhibits
transition from deceleration to acceleration. We find that the HEL Universe
within the framework of Bianchi-V space-time is anisotropic at the early stages
of evolution and becomes isotropic at late times. The dynamical dark energy in
the HEL Bianchi-V Universe does not show departure from the usual cosmological
constant at later times.
