Multi-Cloud Management Market Size, Industry Analysis Report, Regional, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4507
Multi-Cloud Management Market size is poised to grow at an exponential rate during the next 5-7 years driven by rising need for improved policy governance of cloud infrastructure and inclination towards automation and agility.
Multi-cloud management involves a cloud platform that enables enterprises to transfer their workloads on multiple clouds including Software as a Service (SaaS), Infrastructure as a Service IaaS, and Platform as a Service (PaaS), depending upon the criticality of information. The rising adoption of multi-cloud services from several industry verticals including BFSI, government, hospitality, retail, and consumer goods is expected to significantly facilitate the market growth.
This is mainly due to substantial features associated with cloud services such as faster deployment, minimized operational cost, flexibility, and scalability over traditional on-premise IT solutions. With the increasing workload, enterprises subscribe to different cloud service providers to improve operational efficiency. The demand for multi-cloud management is expected to rise swiftly in line with growing adoption for managing growing operational complexities in enterprise environments.
The multi-cloud management market is still in its initial phase, with only few enterprise-level deployments. The platform eliminates the crucial challenges such as vendor lock-in, higher cost, latency, enhanced security and compliance for cloud-based models and hence, has emerged as a major trend in the field of cloud services. Additionally, the small and medium enterprises are adopting multi-cloud services and moving their applications on cloud-based platforms. By using multi - cloud the enterprises can significantly minimize the dependency on a single vendor.
However, the applications which are truly built on multi-cloud platform are difficult to manage as different clouds use different management interfaces and APIs. These challenges are further affecting the market growth.
North America dominates the global market accounting for a significant share. The dominance of North America can be attributed to early adoption of technology across the region. Also, the organizations are inclining towards cost-effective cloud-deployment. Furthermore, the growth of Asia Pacific region is due to high internet penetration, rising popularity of social media solutions and other online platforms.
The companies operating in the multi-cloud management market are engaged in strategic mergers and acquisitions in order to strengthen their foothold in the market. For instance, In November 2019, Red Hat, Inc. acquired a startup company named NooBaa. The company specialized in developing software or managing data storage services across hybrid and multi cloud environments. The acquisition helped Red Hat in expansion of their existing hybrid cloud portfolio.
In September 2018 Flexera announced that they acquired RightScale, one of the leading companies in multi-cloud management and cost optimization. This acquisition was aimed at enhancing the company’s cloud services portfolio. Also, the companies are continuously moving their existing applications to multi cloud environment. For instance, in November 2018, IBM announced that they are planning to extend their cloud migration facilities by collaboration with ServiceNow.
The global multi-cloud management market is as it is highly competitive as the market is fragmented with several regional and global players. Some of the major player operating in this market are Accenture, BMC Software, Inc., Centurylink, Citrix Systems, Inc., Cisco Systems, Inc., Cloudmore, Cloudyn, Dell Inc., DoubleHorn, IBM Corporation, Jamcracker, Inc., RightScale, Flexera, SixSq Sarl, Turbonomic, Inc, and VMware, Inc.
Market by Deployment Model, 2015-2026 (USD Million)
- Public Cloud
- Private Cloud
- Hybrid Cloud
Market by Organization Size, 2015-2026 (USD Million)
- Large Enterprise
- Small and Medium Sized Enterprise (SMEs)
Market by Application, 2015-2026 (USD Million)
- Cloud Automation
- Support and Maintenance
- Data Security and Risk Management
- Training and Consulting
- Migration and Integration
- Monitoring and Access Management
- Reporting and Analytics
Market by End-Use, 2015-2026 (USD Million)
- Healthcare & life sciences
- Consumer Goods
- Media & Entertainment
- Others (Travel & Tourism, Education, etc.)
The above information has been provided for the following regions and countries:
- North America
- Australia & New Zealand (ANZ)
- South Korea
- Southeast Asia
- Latin America
- South Africa
- Saudi Arabia
- BMC Software, Inc.
- Citrix Systems, Inc.
- Cisco Systems, Inc.
- Dell Inc.
- IBM Corporation
- Jamcracker, Inc.
- SixSq Sarl
- Turbonomic, Inc.
- VMware, Inc.
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