New York, US, Sept. 29, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Multi-Cloud Management Market Research Report: by Component, Business Function, Organization Size, Deployment, Vertical - Forecast till 2030”, the market is anticipated to acquire a valuation of approximately USD 37.23 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 30.2% during the assessment timeframe.
Multi-Cloud Management Market Overview
The global multi-cloud management market is likely to witness exponential growth. The boosting adoption of multi-cloud management platforms across the industry verticals would be a key driving force. Hybrid multi-cloud management solutions are continually witnessing vast market demand. In the future, the deployment and management of cloud environments will be consistent regardless of location or configuration. Therefore, multi-cloud management solution providers strive to simplify how organizations address the changing dynamics of enterprise IT, enabling IT teams to build applications built for on-premises deployment to retain the agility to run them across the open hybrid cloud.
Players leading the multi-cloud management market are-
- CenturyLink (US)
- BMC Software (US)
- Accenture (Ireland)
- DoubleHorn (US)
- VMware (US)
- RightScale (US)
- Cloudyn (Israel)
- CliQr (US)
- Dell Technologies (US)
- IBM (US)
- Jamcracker (US)
- Citrix (US)
- Micro Focus (Berkshire)
- Turbonomic (US)
- Red Hat (US)
- Embotics (US)
- SixSq (Switzerland)
- Cloudmore (Sweden)
- Navisite (US)
- Flexiant (UK)
- Scalr (US)
- CloudBolt (US)
- Rackspace (US)
- CloudHelm (US)
- CloudEnablers (US
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Given that multi-cloud management solutions are increasingly becoming critical to enterprise success, technology giants are working with partner ecosystems to provide their clients with intelligent automation capabilities. They design observability that can help deliver actionable insights and optimize the performance of applications running in hybrid, multi-cloud environments.
Multi-Cloud Management Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 37.23 Billion |
| Growth Rate | CAGR of 30.2% from 2022 to 2030 |
| Key Market Opportunities | The advancement in an offering of cloud-based solutions and services |
| Key Market Drivers | The agility, security, lower costs, and flexibility |
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Industry Trends
The rising need for high-level governance and policies in organizations drives the growth of the market. Moreover, advantages that a multi-cloud management system offers, such as lower IT management costs with flexibility, agility, and security, escalate the market demand. Multi-cloud management is garnering huge popularity among major software companies.
These technology providers are increasingly coming up with various combinations of different multi-cloud services and applications to meet the increasing demand and convenience of the end-users. Additionally, the increasing outsourcing of daily IT management and technical support to third-party cloud-based services to automate and enhance business operations boost the market growth.
Depending on the enterprise's IT needs, multi cloud management systems can also handle additional tasks such as monitoring & reporting, performance testing, backup recovery, and more. Hence, multi-cloud platforms are proven to be a viable solution preferred increasingly, which, in turn, is increasing the multi cloud management market size.
The cost-effective, cloud-based applications are increasingly adopted due to their economical data storing benefits. On the other hand, associated risks such as data theft, private information leak, and data misuse are the major factors projected to obstruct market growth, restricting the uptake of multi-cloud management services. Nevertheless, increasing usage of cloud-based applications in growing numbers of businesses for data storage would support the market growth throughout the review period.
Multi-Cloud Management Market Segments
The multi-cloud management market is segmented into platforms, service types, applications, deployments, verticals, and regions. The platform segment comprises internal and external enablements. The service type segment comprises cloud automation, migration & integration, reporting & analytics, data security & risk management, monitoring & access management, training & consulting, support & maintenance, and others.
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The application segment comprises metering & billing, infrastructure & resource management, provisioning, compliance management, lifecycle management, identity & policy management, and others. The deployment segment comprises public cloud, private cloud, and hybrid cloud. The vertical segment comprises BFSI, healthcare, IT & telecommunication, media & entertainment, retail, travel, and others. The region segment comprises North America, Europe, APAC, and Rest-of-the-World.
Multi-Cloud Management Market Regional Analysis
North America dominates the global multi-cloud management market. The largest market share attributes to the presence of major vendors and the wide adoption of multi-cloud management platforms and services. Technological advances and increased adoption of cloud-based technologies across various industry verticals drive market growth. Moreover, well-established infrastructure and seamless internet connectivity impact the growth in the regional market positively.
Europe stands second in the global multi-cloud management market. The region is a substantially large market for cloud-managed services, influencing the multi-cloud management market. Also, the market growth is driven by the vast adoption of multi-cloud management platforms across industries. Additionally, the proliferation of the Internet and smart connected devices, alongside the proliferation of a multi-cloud management system, boosts market valuation.
The multi-cloud management market in the Asia Pacific region is growing at a rapid pace. Factors such as the increasing adoption of online managed services and cloud-based business applications across industries foster regional market growth. Furthermore, increasing demand for cloud computing is impacting the market growth in the region positively. China, Japan, and India have shown a considerably fair share in the regional market and will be growing rapidly in the years to come.
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Multi-Cloud Management Market Competitive Analysis
The fiercely competitive multi-cloud management market appears fragmented due to the competitive landscape formed by many large & small players and new entrants. Product launch, agreement & partnership, M&A, and expansion are some of the strategic initiatives traced from the recent proceedings in the market.
For instance, on Sep 28, 2022, Dell and Red Hat formed a partnership to simplify multi-cloud deployments. These companies would work together to develop solutions for managing containerized workloads in data centers, allowing them to manage multi-cloud environments effortlessly. Multi-cloud deployments are expected to continue to gain interest from vendors, especially containerized workloads.
Also, Dell and Red Hat had recently launched a set of containerized solutions simplifying the management and deployment of multi-cloud environments on-prem. The collaboration would enable these partners to build a multi-cloud ecosystem that can offer their customers greater flexibility and choice during developing new applications and modernizing existing multi-cloud environments.
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