Multi-Cloud Management Market Poised for Robust Growth, forecasted to Expand at 27.76% CAGR from 2024-30
MarkNtel Advisors has released its latest report highlighting strong growth in The Global Multi-Cloud Management Market size is estimated to grow at a CAGR of around 27.76% during the forecast period, i.e., 2024-30.
Report Coverage
This report offers a comprehensive analysis of the Multi-Cloud Management Market, providing valuable insights across historical trends, current dynamics, and future forecasts.
- Base Year: 2023
- Forecast Years: 2024-30
- Historical Years: 2019-22
Multi-Cloud Management Market Overview
The market growth imputes the need for enhanced flexibility & resilience across businesses. Organizations globally are increasingly recognizing the importance of avoiding vendor lock-in and ensuring business continuity by distributing workloads across multiple cloud service providers. Moreover, security concerns also contribute to the rising demand for multi-cloud management. This is due to the growing vulnerability of data assets to breaches & cyber thefts. Thus, organizations are keenly seeking to mitigate cyber risks by dispersing their data & applications across different cloud environments.
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Multi-Cloud Management Market Segmentation Outlook
The Multi-Cloud Management is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
By Component
- Security & Risk Management
- Reporting & Analytics
- Cloud Automation
- Training & Consulting
- Managed Services
- Others (Migration & Integration, Monitoring & Access Management, etc.)
By Deployment Mode
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Application
- Metering & Billing
- Infrastructure & Resource Management
- Provisioning
- Compliance Management
- Lifecycle Management
- Identity & Policy Management
- Others (Cost Management, etc.)
By End User
- Hospitality
- IT & Telecom
- Consumer Goods
- Transportation & Logistics
- Health & Life Sciences
- Banking, Financial Services and Insurance (BFSI)
- Media & Entertainment
- Retail
- Other- (Advertising, Education, etc.)
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Multi-Cloud Management Market Driver
Growing Propensity to Avoid Vendor Lock-in & Enhance Business Flexibility to Fuel Market Demand – As businesses around the world are increasingly adopting cloud computing, they face the risk of vendor lock-in, where reliance on a single cloud provider limits flexibility & increases costs. Therefore, organizations are seeking possible options to mitigate this risk and ensure they are not bound to a single provider’s pricing model. Also, as multi-cloud platforms & services allow them to leverage the strengths of different providers, optimizing performance and reducing dependency on any single vendor effectively, its adoption is on the rise across the business units seeking better scalability & flexibility.
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Top Multi-Cloud Management Market Brands & Their Strategic Market Positioning
MarkNtel Advisors Research identifies Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc. , Dell Technologies, Citrix Systems Inc., Flexera, Cisco Systems Inc., Rackspace Technology, Broadcom (VMware Inc.), Lumen Technologies, Trianz, BMC Software Inc., Kyndryl Inc. Others as key players shaping the market landscape.
Multi-Cloud Management Market News
- 2024: Flexera announced the acquisition of Snow Software, a multi-cloud solution & service provider to broaden its portfolio offerings.
- 2023: Dell Technologies, announced the launch of its APEX Cloud Platform for Microsoft Azure to address the challenges of managing IT infrastructure in hybrid & multi-cloud environments.
Key Questions Answered in the Report
- What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
- How the industry has been evolving, and which segments would dominate the market during the forecast period?
- What are the key opportunity areas that companies foresee in the coming years 2030?
- Who are the key players in the market, and what are their competitive strengths?
- What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?
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