https://www.industryarc.com/Report/19440/multi-cloud-market.html
Multi-cloud market size is projected to reach $11.2 billion by 2026, and it is estimated to grow at around CAGR 30.8% during 2021-2026. Increasing penetration of Industry 4.0 and growing adoption of digital age technologies such as Internet of Things (IoTs), big data, cloud computing, cloud automation, Artificial Intelligence (AI), Machine Learning (ML) are estimated to be the key factors driving the Multi-cloud Market during the forecast period. The rising adoption of software as a service among enterprises due to its pay-per-usage model has contributed to the growth of Multi-cloud Market. The growing demand for reducing reliance on a single cloud provider to mitigate the risks associated with vendor lock-ins, downtime or potential data loss is set to drive the market. The transition of various enterprises towards digitalization to generate new business outcomes ensuing cloud security and compliance management has contributed to the growth of the market. For instance, IBM Institute for Business Value estimates 85% of the enterprises have already adopted multi-cloud infrastructure and by 2021, 98% of the enterprises will use multi-cloud strategy. Further, the study confirmed Return on Investments (ROI) derived from a fully hybrid, multi-cloud platform technology is 2.5 times of the value derived from single cloud vendor approach and thus accelerating the adoption.
