Market Highlights
The global multi-cloud management market is growing continually. The market growth attributes to the significantly increased adoption of multi-cloud management platforms across the industry verticals. Besides, the rising need for high-level governance and policies in organizations drive the growth of the market. Moreover, advantages that multi cloud management system offers, such as lower IT management costs with flexibility, agility, and security, escalate the market demand.
According to Market Research Future (MRFR), the global multi-cloud management market is poised to create a valuation of approx. 7BN by 2023, registering over 31% CAGR throughout the forecast period (2017 – 2023). Multi-cloud management is garnering huge popularity among the major software companies. These technology providers are increasingly coming up with various combinations of different multi-cloud services and applications to meet the increasing demand and convenience of the end-users.
Additionally, the increasing outsourcing of daily IT management and technical support to third-party cloud-based services to automate and enhance business operations boost the market growth. Depending on the enterprise's IT needs, multi cloud management systems can also handle additional tasks such as monitoring & reporting, performance testing, backup recovery, and more. Hence, multi-cloud platforms are proven to be a viable solution preferred increasingly, which, in turn, is increasing the multi cloud management market size.
The cost-effective, cloud-based applications are increasingly adopted due to their economical data storing benefits. On the other hand, associated risks such as data theft, private information leak, and data misuse are the major factors projected to obstruct market growth, restricting the uptake of multi-cloud management services. Nevertheless, increasing usages of cloud-based applications in growing numbers of businesses for data storing would support the market growth throughout the review period.
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Segmentation:
The report is segmented into six dynamics;
By Platform : Internal Enablement and External Enablement.
By Service Type : Cloud Automation, Migration & Integration, Reporting & Analytics, Data Security & Risk Management, Monitoring & Access Management, Training & Consulting, Support & Maintenance, and others.
By Application : Metering & Billing, Infrastructure & Resource Management, Provisioning, Compliance Management, Lifecycle Management, Identity & Policy Management, and others.
By Deployment : Public Cloud, Private Cloud, and Hybrid Cloud.
By Vertical : BFSI, Healthcare, IT & Telecommunication, Media & Entertainment, Retail, Travel, and others.
By Regions : North America, Europe, APAC, and Rest-of-the-World.
Multi-Cloud Management Market – Regional Analysis
North America dominates the global multi-cloud management market. The largest market share attributes to the presence of major vendors and the wide adoption of multi-cloud management platforms and services. Besides, technological advances and increased adoption of cloud-based technologies across various industry verticals drive market growth.
Moreover, well-established infrastructure and seamless internet connectivity impact the growth in the regional market positively. The North American multi-cloud management market is projected to retain its dominance throughout the estimated period.
Europe stands second in the global multi-cloud management market. The region is a substantially large market for cloud-managed services, influencing the multi-cloud management market. Also, the market growth is driven by the vast adoption of multi-cloud management platform across the industries.
Additionally, the proliferation of the Internet and smart connected devices, alongside the proliferation of a multi-cloud management system, boosts market valuation. The European multi-cloud management market tool is expected to witness significant growth during the forecast period.
The multi-cloud management market in the Asia Pacific region is growing at a rapid pace. Factors such as the increasing adoption of online managed services and cloud-based business applications across industries foster regional market growth. Furthermore, increasing demand for cloud computing is impacting the market growth in the region positively.
China, Japan, and India have shown considerably fair share in the regional market and will be growing rapidly in the years to come. The APAC multi-cloud management market is expected to register the highest CAGR over the forecast period, emerging as the fastest-growing market.
Global Multi-Cloud Management Market - Competitive Analysis
The fiercely competitive multi-cloud management market appears fragmented due to the competitive landscape formed by many large & small players and the new entrants. Product launch, agreement & partnership, M&A, and expansion are some of the strategic initiatives traced from the recent proceedings in the market.
Major Players:
Players leading the multi-cloud management market are CenturyLink (US), BMC Software (US), Accenture (Ireland), DoubleHorn (US), VMware (US), RightScale (US), Cloudyn (Israel), CliQr (US), Dell Technologies (US), IBM (US), Jamcracker (US), Citrix (US), Micro Focus (Berkshire), Turbonomic (US), Red Hat (US), Embotics (US), SixSq (Switzerland), Cloudmore (Sweden), Navisite (US), Flexiant (UK), Scalr (US), CloudBolt (US), Rackspace (US), CloudHelm (US), and CloudEnablers (US), among others.
Industry/ Innovation/ Related News:
November 16, 2020-- Axiz Technology (Pty) Ltd. (South Africa), a leading manufacturer and distributor of a wide variety of computer hardware and components, announced expanding its vendor Nutanix's solutions to its customers across the African region.
With Nutanix, resellers and Axiz's customers can leverage proven technology solutions to better manage and facilitate multi-cloud management and delivery, database simplicity, cloud operations, and software-defined offerings by way of modern hyper-convergence offerings.
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Global Multi-Cloud Management Market Research Report: by Component (Data Discovery, Data Integration & Management, Multi-cloud management Analytics, Data Visualization), Business Function (Sales, Finance, HR), Organization Size, Deployment, Vertical – Forecast till 2027
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