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

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

The global multi-cloud management market size reached US$ 8.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 37.1 Billion by 2028, exhibiting a growth rate (CAGR) of 27.2% during 2023-2028.

Multi-cloud management allows businesses to monitor, control and secure cloud services, such as metering and policy, access, resource, lifecycle, infrastructure, and identity and access management, offered by different vendors. It relies on various tools and procedures and provides a centralized platform for simplifying and streamlining the management process. Besides this, as it helps minimize the workload on information technology (IT) teams, multi-cloud management solutions are employed in the retail, telecommunications, healthcare, and banking, financial services and insurance (BFSI) industries worldwide.

Multi-Cloud Management Market Trends:
Multi-cloud management solutions find extensive applications in provisioning, billing, compliance. This, in confluence with the rising focus of businesses on automating several processes and consequently improving the overall efficiency, represents one of the key factors impelling the growth of the market. Besides this, business organizations are increasingly concerned about the vendor lock-in problem in cloud computing, which restrains their movement to a different vendor without substantial costs, legal constraints, or technical incompatibilities. As a result, the demand for multi-cloud management solutions is rising across the globe. Moreover, multi-cloud management solutions lower the possibility of a distributed denial of service (DDoS) attack, wherein the attackers disable access to servers, devices, services, networks, applications, and specific transactions within applications. This, along with the growing DDoS attacks around the world, is strengthening the growth of the market. Apart from this, the increasing availability of cloud services brokerage (CSB) that eases the integration, installation, analytics, reporting, security, risk management, and other services associated with multi-cloud management is driving the market. Furthermore, the rapid expansion of small and medium enterprises (SMEs) globally is projected to fuel the growth of the market in the coming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global multi-cloud 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 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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report:
How has the global multi-cloud management market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global multi-cloud management market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the deployment mode?
What is the breakup of the market based on the enterprise size?
What is the breakup of the market based on the application?
What is the breakup of the market based on the industry vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global multi-cloud management market and who are the key players?
What is the degree of competition in the industry?