The global Multi-Cloud Management Market was valued at 4.8 billion in 2021 and it is anticipated to grow up to USD 47.8 billion by 2031, at a CAGR of 25.8% during the forecast period.
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Multi-cloud management is the process of managing and coordinating multiple cloud computing services. This can include public, private, and hybrid cloud environments. Multi-cloud management can help organizations optimize performance and cost, while also reducing risk. It can also provide greater flexibility and agility, as well as improve disaster recovery. Some of the challenges of multi-cloud management include security, complexity, and vendor lock-in. Organizations need to carefully consider these challenges when choosing to use multiple cloud services.
Market Trends and Drivers
The key drivers of the multi-cloud management market are the increasing adoption of cloud services, the need for centralized management of cloud resources, and the need to reduce operational costs. The increasing adoption of cloud services is one of the key drivers of the multi-cloud management market. With the increasing adoption of cloud services, organizations are facing the challenge of managing multiple cloud environments. This has led to the need for centralized management of cloud resources. The need to reduce operational costs is another driver of the multi-cloud management market. With the increasing adoption of cloud services, organizations are looking for ways to reduce their IT costs. The use of multi-cloud management solutions can help organizations reduce their IT costs by reducing the number of IT staff required to manage their cloud environments.
Major Players in the Global Multi-Cloud Management Market
The global industry is characterized by the increasing focus on improving cloud platform interoperability and strengthening the enterprise mobility framework. A surge in ICT expenditure and increase in cloud implementation across end users, including SMEs and large enterprises, are anticipated to augment the adoption of hybrid and multi-cloud computing. The growing demand for more flexibility in business processes in North America and Europe is projected to fuel the industry growth. The high degree of competition and low barriers of entry in the market have forced established companies to continuously launch new products with added functionalities to maintain competitiveness and profitability.
The key players in the market BMC Software, Inc., Citrix Systems Inc., CloudBolt Software, Inc., CoreStack, Dell Technologies Inc., Flexera Software LLC, Jamcracker Inc., Microsoft Corporation, Concierto.cloud, and UnityOneCloud. among others.
COVID-19 Impact
The adoption of multi-cloud management solutions & services amid the ongoing COVID-19 pandemic has been significantly impacted owing to the shift of enterprises towards cloud platforms, which exhibited increased deployment of remote access tools & services to ensure business continuity and data security during the pandemic. Multi-cloud management providers are witnessing a rapid increase in their sales volume and market demand.
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Global Multi-Cloud Management Market Segmentation
By Deployment Model
- Private Cloud
- Public Cloud
- Hybrid Cloud
By Organization Size
- Large Enterprises
- SMEs
By Application
- Cloud Automation
- Reporting & Analytics
- Migration & Integration
- Training & Consulting
- Monitoring & Access Management
- Data Security & Management
- Others
By End-user
- Hospitality
- IT & Telecom
- Healthcare & Life Sciences
- BFSI
- Government
- Retail
- Others
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