According to the latest report by IMARC Group, title “Multi-Cloud Management Market: Global Industry Trends, Share, Size, Growth, 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 refers to a set of tools used to access, monitor, control, and secure cloud services offered by several vendors. It relies on various tools to provide a centralized platform for simplifying and streamlining the management process. It also assists in minimizing the workload on information technology (IT) teams. Owing to these properties, multi-cloud management solutions are widely adopted across telecommunications, healthcare, retail, banking, financial services, and insurance (BFSI) industries.
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Multi-Cloud Management Market Trends:
The market is primarily driven by the rising product adoption in billing, provision, and compliance activities. In addition, the increasing incidences of distributed denial of service (DDoS) attacks across the globe represent another major growth-inducing factor. Multi-cloud management solutions lower the chances of DDoS attacks by securing access to networks, applications, servers, devices, services, and specific transactions within applications. Moreover, the market is further propelled by the widespread availability of cloud services brokerage (CSB) that eases the integration, installation, analytics, reporting, security, risk management, and other services related to multi-cloud management. Other factors, such as the growing inclination toward price-sensitive cloud deployments, the surging need to avoid vendor lock-in, and the rapid expansion of small and medium enterprises (SMEs), are also creating a positive market outlook.
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Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Component:
- Software
- Services
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- 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 Geography:
- 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
List of Key Companies Covered in this Market Report:
The major players in the market are 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.
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About IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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