Dublin, Nov. 03, 2022 (GLOBE NEWSWIRE) -- The "Global Integrated Cloud Management Platform (ICMP) Market with COVID-19 Impact Analysis, by Component (Solutions, Services), Organization Size, Vertical (BFSI, IT & Telecom, Government & Public Sector), and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global ICMP Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 15.2% during the forecast period, to reach USD 5.8 billion by 2027 from USD 2.9 billion in 2022.
The COVID-19 Impact on the global ICMP Market
The impact of the COVID-19 pandemic on the market is covered throughout the report. The pandemic has had a positive impact on the integrated cloud management platform market. Corporates are increasingly adopting technology-aided tools that can be leveraged remotely and can ensure hiring as well as business continuity amid disruptions. Due to this, the demand for the SaaS platform is continuously growing.
Top companies, such as Microsoft, are witnessing a high number of subscribers during this period. This is driving the growth of integrated cloud management platforms amid the ongoing COVID-19 pandemic to cater to the growing adoption of multi-cloud and hybrid cloud models, with the growing adoption of remote working models.
The COVID-19 pandemic has created an enormous challenge for businesses globally in continuing operations despite the massive shutdown of offices and other facilities. The increasing use of technologies, especially in the pandemic situation, to stay connected and efficiently operate businesses, is expected to drive the market during COVID-19.
Services segment to grow at a higher CAGR during the forecast period
Based on the component, the market is segmented into two categories: solutions, and services. The services segment is expected to grow at a higher CAGR during the forecast period. Services, including consulting, integration and implementation, training and education, and support and maintenance, are required at various stages, from pre-sales requirement assessment to post-sales product deployment and execution, thus enabling the client to get maximum RoI.
Services constitute an integral part in deploying the solution onboard, imparting training, and handling and maintaining the software solution. Companies offering these services encompass consultants, solution experts, and dedicated project management teams specializing in designing and delivering critical decision support software, tools, and services.
SMEs segment to grow at a higher CAGR during the forecast period
The ICMP market is segmented by organization size is segmented into SMEs and large enterprises. The SMEs segment is expected to grow at a higher CAGR during the forecast period. Cost-effectiveness is an important factor for SMEs, as they always have a tight budget, leaving them with limited ways to market themselves and gain visibility.
The implementation of cloud storage is expected to result in increased revenues, desired outcomes, and improved business efficiency for SMEs. SMEs adopt the pay-as-you-go model, which offers flexibility to manage their IT infrastructure according to their requirements. SMEs face intense competition from large enterprises; thus, to gain a competitive edge, they are adopting integrated cloud management platforms, which would enable quick responses, timely decisions, and overall enhanced business productivity.
Consumer goods and retail vertical to grow at a higher CAGR during the forecast period
The consumer goods and retail industry vertical is expected to grow at the highest CAGR during the forecast period. The world of retail is changing rapidly, not just in terms of the stores we buy from, but how we shop, when how we pay for goods and the way in which those goods move through the supply chain. The impact of this has redefined the perception of customer experience and the standards retailers today are expected to reach and exceed. Multi-cloud platforms provide retailers with flexibility and allow them to do storage and computing at a lower cost.
Examples of this are the UK's retailing giant, Sainsbury's and Argos. The merger of the two companies was facilitated by the adoption of a multi-cloud platform because combining the operational requirements of both businesses would have been impossible on-premises. Through multi-cloud, the businesses were able to blend their business processes and maximized reach. Retailers use data to connect the e-commerce and in-store shopping experiences, and the only way they can do this accurately and efficiently is through flexible, scalable technology.
The rise of selling on social media platforms also means integrating payment into the user experience, bringing security and protection of customers' data to the forefront of retailers' minds. The hybrid cloud provides the portability and control needed to bring retailers into the new era of customer experience.
APAC to grow at a higher CAGR during the forecast period
The APAC market is gaining huge traction among global businesses. The Asia Pacific region comprises emerging economies, such as China, Japan, Australia and New Zealand, and the rest of Asia Pacific. The region is gaining huge traction among global businesses. It consists of countries with a complex ecosystem of start-ups, governments, SMEs, and large multinational companies using and developing an array of valuable ICT solutions.
Major factors for technological advancements in the region are the rising levels of urbanization, technological innovation, and government support for the digital economy. Rapid advancements in telecommunications, cloud computing, and IoT have led to several organizations adopting cloud-based strategies. The region is expected to experience huge growth during the forecast period. With the increasing adoption of cloud technologies and the rising amount of business processes, there has been a significant rise in the adoption of integrated cloud management platform solutions.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Brief Overview of the Integrated Cloud Management Platform Market
4.2 Market, by Component, 2022 vs. 2027
4.3 Market, by Organization Size, 2022 vs. 2027
4.4 Market, by Vertical, 2022 vs. 2027
4.5 Market - Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Mobility, Shifting Workload Toward Cloud Environments, and Growing Trend of Bring Your Own Device
5.2.1.2 Facilitating Simplified Management of Complex and Heterogeneous Cloud Environments
5.2.1.3 Growing Adoption of Hybrid Cloud and Multi-Cloud Strategies Across Enterprises of Different Industry Verticals
5.2.1.4 Rising Adoption of Cloud-Based Business Utility Solutions and Services due to COVID-19
5.2.1.5 Increased Savings and Workforce Productivity
5.2.1.6 Emergence of AI-Enabled Tools in IT Operations
5.2.2 Restraints
5.2.2.1 Concerns About Cyber-Attacks and Data Breaches
5.2.2.2 Difficulties Involved in Application Portability
5.2.3 Opportunities
5.2.3.1 Emergence of Hybrid Cloud Infrastructure
5.2.3.2 Increasing Investments in AIOps Technology
5.2.3.3 Proactive Investments by Enterprises in Cloud-Based Models
5.2.3.4 COVID-19 Outbreak to Foster Adoption of Cloud-Based Solutions
5.2.4 Challenges
5.2.4.1 Complexity in Designing the Network for Cloud and Security Concerns
5.2.4.2 Limited Expertise Among Enterprises to Utilize Cloud System Management Solutions
5.2.4.3 Increasing Number of Changes in IT Operations
5.3 Case Study Analysis
5.3.1 Case Study 1: Azure Arc-Enabled Data Services are Powering a Faster App Pipeline and Helping RBC to Deliver on a Long-Desired On-Premises Database as a Service (DBaaS)
5.3.2 Case Study 2: Empowering Businesses with Cisco Workload Optimization Manager
5.3.3 Case Study 3: With VMware vRealize Suite, Cognizant Realized Its Vision of a Hybrid Cloud Environment with 'Any Cloud, Any Application' Capability
5.3.4 Case Study 4: CloudBolt's Cloud Management Platform Enables Hamburg Sud to Provide a Wide Range of Cloud Services from VMS, Storage, and Databases Automatically Within Minutes
5.4 Ecosystem
5.5 Supply Chain Analysis
5.6 Pricing Analysis
5.7 Key Stakeholders and Buying Criteria
5.7.1 Key Stakeholders in the Buying Process
5.7.2 Buying Criteria
5.8 Patent Analysis
5.9 Technological Analysis
5.10 Key Conferences and Events in 2022-2023
5.11 COVID-19 Driven Market Dynamics
5.12 Porters Five Forces Analysis
5.13 Tariff and Regulatory Landscape
6 Integrated Cloud Management Platform Market, by Component
6.1 Introduction
6.1.1 Component: Market Drivers
6.1.2 Component: COVID-19 Impact
6.2 Solutions
6.2.1 Cloud Automation and Orchestration
6.2.2 Governance and Compliance
6.2.3 Performance Monitoring
6.2.4 Security Solutions
6.2.5 Cost Management Solutions
6.3 Services
6.3.1 Professional Services
6.3.2 Managed Services
7 Integrated Cloud Management Platform Market, by Organization Size
7.1 Introduction
7.1.1 Organization Size: Market Drivers
7.1.2 Organization Size: COVID-19 Impact
7.2 Small and Medium-Sized Enterprises
7.3 Large Enterprises
8 Integrated Cloud Management Platform Market, by Vertical
8.1 Introduction
8.1.1 Vertical: Market Drivers
8.1.2 Vertical: COVID-19 Impact
8.2 Banking, Financial Services, and Insurance
8.3 IT and Telecom
8.4 Government and Public Sector
8.5 Manufacturing
8.6 Retail and Consumer Goods
8.7 Healthcare and Life Sciences
8.8 Energy and Utilities
8.9 Other Verticals
9 Integrated Cloud Management Platform Market, by Region
10 Competitive Landscape
10.1 Introduction
10.2 Key Players' Strategies/Right to Win
10.2.1 Overview of Strategies by Key Integrated Cloud Management Platform Vendors
10.3 Market Share of Top Vendors
10.4 Historical Revenue Analysis of Top Five Vendors
10.5 Key Market Developments
10.5.1 New Launches
10.5.2 Deals
10.5.3 Others
10.6 Company Evaluation Quadrant
10.6.1 Stars
10.6.2 Emerging Leaders
10.6.3 Pervasive Players
10.6.4 Participants
10.7 SME Evaluation Quadrant
10.7.1 Progressive Companies
10.7.2 Responsive Companies
10.7.3 Dynamic Companies
10.7.4 Starting Blocks
10.7.5 Competitive Benchmarking
11 Company Profiles
11.1 Introduction
11.2 Key Players
11.2.1 Microsoft
11.2.2 IBM
11.2.3 VMware
11.2.4 Dynatrace
11.2.5 Microfocus
11.2.6 Snow Software
11.2.7 Cognizant
11.2.8 BMC Software
11.2.9 Lumen Technologies
11.2.10 Splunk
11.2.11 Oracle
11.2.12 Cisco
11.2.13 Hewlett Packard Enterprise
11.2.14 NetApp
11.2.15 Nutanix
11.2.16 Flexera
11.2.17 Datadog
11.2.18 Red Hat
11.2.19 New Relic
11.2.20 ServiceNow
11.2.21 HashiCorp
11.2.22 Turbonomic
11.3 Startups
11.3.1 Abiquo
11.3.2 Hypergrid
11.3.3 Rafey Systems
11.3.4 Centilytics
11.3.5 Stacklet
11.3.6 Rackware
11.3.7 Cirrusform
11.3.8 Corestack
11.3.9 Morpheus Data
11.3.10 CloudBolt
12 Adjacent Market
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/o2d9zr
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