Global Multi Cloud Management Market - Trends and Forecast, Future Demand 2023

Posted by Savni on March 23rd, 2020

Market Overview

The global multi-cloud management market,  according to a report by Market Research Future (MRFR), is expected to register a substantial market valuation at a significant CAGR of nearly 31% during the forecast period 2017-2023.

Drivers and Restraints

Factors such as Improvement in security and reduction of the complexities related to the management of cloud storage are driving the expansion of the market at a consistently fast pace. Private clouds have increased the demand for the market by providing a higher degree of control over the operations that are implemented at each level. The market is expected to be benefitted in the forecast period by the presence of a well-established infrastructure. The risen agility and need for automation are fueling the growth of the global multi-cloud management market.

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Furthermore, growing deployment for multi-cloud management in the IT and telecommunication sector is boosting the growth of the market. Also, the growing demand for multi-cloud management solutions from small and medium business units is set to drive the growth of the multi-cloud management market. The external brokerage enablement platform is expected to enhance at the highest rate during the forecast period. Whereas, the internal brokerage enablement platform sub-segment is poised to hold the maximum market share of the multi-cloud management market. This is owing to the rise in the adoption of cloud-based services and applications across different verticals. Moreover, the demand for multi-cloud management solutions is growing due to its superior features, such as the ease of use and flexibility being provided.

Segmental Analysis

The global multi-cloud management market is segmented on the basis of platform, deployment, service type, application, and vertical. Based on the platform, the market is bifurcated into internal enablement and external enablement. Based on the service type, the market is segmented into migration & integration, cloud automation, reporting & analytics, support & maintenance, monitoring & access management, data security & risk management, training & consulting, and others. Based on the deployment, the multi-cloud management market is segmented into the private cloud, public cloud, and hybrid cloud. Based on the application, the market for multi-cloud management is segmented into infrastructure & resource management, metering & billing, provisioning, lifecycle management, compliance management, identity & policy management, and others. Whereas, based on the vertical, the market is segmented into healthcare, BFSI, IT & telecommunication, retail, media & entertainment, travel, and others.

Regional Analysis

Global Multi Cloud Management Market globally covers regions such as Asia Pacific, Europe, North America, and the Rest of the World. It has been noted that the North American region is likely to have a significant market share over the assessment period, while the Asia Pacific region is slated to register the fastest growth rate during the review period.

The development of the North American market is attributed to the technological expansions and improved adoption of cloud-based technologies across several industry verticals. The North American region is the chief market globally followed by the European and Asia Pacific region. The developed countries such as Canada and the U.S. are dominating the North American market owing to growing technological developments and the increasing need to avoid provider lock-ins in the region. Additionally, the region has a well-established infrastructure, which enables faster implementation of progressive technologies. Furthermore, the growing adoption of the internet of things and increasing demand for business agility are the vital factors supporting the growth of the multi-cloud management market in the region.

Competitive Analysis

Some of the major market players in the global multi-cloud management market CenturyLink (U.S.), are BMC Software (U.S.),Accenture (Ireland), DoubleHorn (U.S.), VMware (U.S.), RightScale (U.S.), CliQr (U.S.), Dell Technologies (U.S.), Cloudyn (Israel), Jamcracker (U.S.), Citrix (U.S.), IBM (U.S.), Turbonomic (U.S.), Red Hat (U.S.), Micro Focus (Berkshire), SixSq (Switzerland), Cloudmore (Sweden), Embotics (U.S.), Flexiant (UK), Scalr (U.S.), Navisite (U.S.), Rackspace (U.S.), CloudHelm (U.S.), CloudBolt (U.S.), and CloudEnablers (U.S.),  among others.

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