Cloud System Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cloud System Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global cloud system management market size reached US$ 15.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 53.2 Billion by 2028, exhibiting a growth rate (CAGR) of 23.6% during 2023-2028.

Cloud system management refers to a web-based solution used for setup, configuration, monitoring and optimization of cloud infrastructure. It is deployed into an existing cloud environment as a virtual machine (VM) that consists of a database and a server. The server communicates with application programming interfaces (APIs) to connect the database and virtual resources on the cloud. It involves performance monitoring of the components, security, compliance, disaster recovery and contingency solutions. It is also utilized for storing the organization’s data on an offsite server by a third-party cloud data hosting vendor. As a result, cloud system management solutions find extensive applications across various industries, such as banking, financial services and insurance (BFSI), telecommunications, information technology (IT) and healthcare.

Significant growth in the information technology (IT) industry across the globe represents one of the key factors creating a positive outlook for the market. Furthermore, widespread adoption of public, private and hybrid cloud environments by organizations is also driving the market growth. Cloud system management solutions can efficiently manage complex and multi-cloud strategies for enterprises with diverse operations. Moreover, due to the onset of the coronavirus pandemic (COVID-19), an increasing number of organizations are adopting remote working models, which, in turn, is facilitating the demand for these systems. Various technological advancements, such as the development of artificial intelligence (AI)-based tools for cloud management, are acting as other growth-inducing factors. AI-enabled cloud management solutions automate organizational functions and facilitate incident ticketing and knowledge reuse and provide enhanced security. Other factors, including an increasing preference for Software-as-a-Service (SaaS)-based delivery models, along with extensive research and development (R&D) activities, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global cloud system management market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, deployment model, enterprise size and end use industry.

Breakup by Component:

Solution
Services

Breakup by Deployment Model:

Public
Private
Hybrid

Breakup by Enterprise Size:

Small and Medium Enterprise
Large Enterprise

Breakup by End Use Industry:

BFSI
Healthcare and Life Sciences
Retail and Consumer Goods
IT and Telecommunication
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

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Amazon Web Services Inc. (Amazon), BMC Software Inc. (Boxer Parent Company Inc.), Broadcom Inc., Cisco Systems Inc., Dynatrace Inc. (Compuware), Datadog Inc., Flexera Software Ltd., Micro Focus International PLC, Microsoft Corporation, New Relic Inc., Oracle Corporation, Red Hat Inc. (IBM), Splunk Inc., Servicenow Inc. and Vmware Inc. (Dell Technologies).

Key Questions Answered in This Report:

What was the size of the global cloud system management market in 2022?

What is the expected growth rate of the global cloud system management market during 2023-2028?

What are the key factors driving the global cloud system management market?

What has been the impact of COVID-19 on the global cloud system management market?

What is the breakup of the global cloud system management market based on the enterprise size?

What is the breakup of the global cloud system management market based on the end use industry?

What are the key regions in the global cloud system management market?

Who are the key players/companies in the global cloud system management market?