Multi Cloud Management Market:
The GMI Research’s latest analysis reveals that the Multi Cloud Management Market is slated to register a faster CAGR over the coming years. The growing requirement for high-end governance and the accelerating adoption of microservices and containerization for cloud-native applications are the two major factors that are contributing to the market growth.
Multi Cloud Management Market’s leading Manufacturers:
- BMC Software
- CenturyLink
- Accenture
- VMWare, Inc.
- Flexera
- Doublehorn
- CliQr Technologies
- Clodyn
- Oracle Corporation
- IBM Corporation
Multi Cloud Management Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
One of the biggest factors that is surging the growth of the multi cloud management market size is the increasing acceptance of cloud services around the world. As per the GMI Research analysis, the total end-user spending on public cloud services is projected to touch 18.5% by the end of 2021. The rising requirement for high-end governance and the growing agility & automation are the two major factors that are surging the market growth. Moreover, the growing adoption of microservices and containerization for cloud-native applications has further boosted the demand for multi-cloud solutions, especially among enterprises.
The growing fear of vendor lock-in is encouraging the end-users to move towards the adoption of multi-cloud management. Vendor lock-in is usually cited as a significant hurdle in cloud service adoption. Through the multi-cloud management, various end-users are moving towards vendors, which has restricted the dependency on one particular vendor. The relative independence is promoting the end-users to negotiate with vendors for better pricing, Service-Level Agreements (SLAs), or both of these. Additionally, multi-cloud management solutions provide flexibility in the deployment of data and allow the end-users to move their workload to different clouds based on their requirements. Thus, this factor will further drive the growth of the multi cloud management market share in terms of revenue. Various factors such as portability concerns on various cloud environments along with stringent regulatory requirements are likely to hamper the growth of the market during the forecast period.
Platform Segment Drivers
Based on the platform, the external enablement platform segment is expected to grow at a higher CAGR over the forecast period. An external enablement platform allows the Telecommunications Service Providers (TSPs), IT distributors, cloud computing vendors, Independent Software Vendors (ISVs), and the hosting providers to increase their product offerings by integrating their applications and services with the cloud services brokerage (CSB) platform to improve profitability and the customer base. The augmenting market potential for cloud brokers is expected to drive the segment’s demand.
Regional Drivers
Based on the region, North America is projected to grow at a faster CAGR during the forecast period. The cloud services market arena in North America is shifting from isolated solutions to platforms integrating onsite, public, and private IaaS. The continuous technological advancements in cloud computing is further helping the multi-cloud management market to grow in this region. Various sectors such as Travel & Hospitality, IT & Telecom, Retail, BFSI, Media & Entertainment, and other industries is opting for this solution, thus contributing to the market growth.
Multi Cloud Management Market Segmentation:
Segmentation by Platform:
- Internal Enablement
- External Enablement
Segmentation by Application:
- Metering & Billing
- Infrastructure & Resource Management
- Compliance Management
- Lifecycle Management
- Provisioning
- Others
Segmentation by End User:
- BFSI
- IT & Telecom
- Government
- Retail
- Healthcare
- Media & Entertainment
- Travel & Hospitality
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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