According to the latest report by IMARC Group, “Global Multi-Cloud Management Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global multi-cloud management market reached a value of US$ 6.43 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 29.23 Billion by 2027, exhibiting a CAGR of 27.50% during 2022-2027.
Multi-cloud management systems enable businesses to monitor, control, and secure cloud services. They rely on various tools and procedures and provide a centralized platform for simplifying and streamlining the management process. As such, multi-cloud management helps minimize the workload on information technology (IT) teams. Consequently, they are widely employed in the retail, telecommunications, banking, financial services and insurance (BFSI), and healthcare industries across the globe.
| Report Metric |
| Historical: 2016-2021 |
| Base Year: 2021 |
| Forecast Year: 2022-2027 |
Multi-Cloud Management Market Trends and Drivers:
The growing usage of these systems for provisioning, billing, and compliance purposes is primarily driving the multi-cloud management market. In line with this, the rising focus among businesses towards automating processes to improve the overall efficiency is further impelling the market growth.
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Moreover, the inflating concerns regarding vendor lock-in problems in cloud computing, which restrain the movement of organizations by inflicting substantial costs, legal constraints, and technical incompatibilities, are also augmenting the global market. In addition to this, multi-cloud management solutions lower the chances of distributed denial of service (DDoS) attacks, where the attackers disable access to servers, services, networks, applications, devices, and specific transactions within applications.
This, in turn, is acting as another significant growth-inducing factor. Furthermore, the widespread availability of cloud services brokerage (CSB) services and the expanding number of small and medium enterprises (SMEs) across countries are projected to bolster the multi-cloud management market over the forecasted period.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Multi-Cloud Management Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Accenture plc, BMC Software Inc., CenturyLink, Cisco Systems Inc., Citrix Systems Inc., Cloudbolt Software Inc., Dell Inc., Flexera, International Business Machines Corporation, Jamcracker Inc., Micro Focus International plc and Vmware Inc.
The report has segmented the market on the basis of region, component, deployment mode, enterprise size, application and industry vertical.
Breakup by Component:
- Software
- Services
- Security and Risk Management
- Training and Consulting
- Reporting and Analytics
- Cloud Automation
- Migration and Integration
- Support and Maintenance
- Others
Breakup by Deployment Mode:
- Private Cloud
- Public Cloud
- Hybrid Cloud
Breakup by Enterprise Size:
- Small & Medium Enterprise (SME)
- Large Enterprise
Breakup by Application:
- Identity and Policy Management
- Compliance Management
- Infrastructure and Resource Management
- Metering and Billing
- Provisioning
- Lifecycle Management
- Others
Breakup by Industry Vertical:
- BFSI
- IT and Telecommunication
- Healthcare
- Retail and Consumer Goods
- Public Sector
- Energy and Utilities
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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