Global Multi-Cloud Management Market Size, Share, Trends, Growth, Report And Forecast 2023-2028

Multi-Cloud Management Market Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2023-2028

Multi-Cloud Management Market Outlook

According to the report by Expert Market Research (EMR), the global multi-cloud management market size reached a value of USD 6.5 billion in 2022. Aided by the increasing demand for flexible cloud-based services and the growing application of multi-cloud management in diverse industries, the market is projected to further grow at a CAGR of 27.6% between 2023 and 2028 to reach a value of USD 28.5 billion by 2028.

Multi-cloud management refers to the use of multiple cloud computing services in a single network architecture. With the capabilities to prevent data loss, enhance operational efficiency, and ensure optimal resource usage, multi-cloud management has become a key factor in effective cloud computing. The system ensures improved scalability, flexibility, and avoids vendor lock-ins, thus supporting overall business growth.

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The increasing preference for flexible cloud-based services is the driving force behind the global multi-cloud management market growth. As businesses continue to expand and diversify their operational needs, there has been a significant shift towards the adoption of multi-cloud strategies, leading to a surge in demand for multi-cloud management services. Furthermore, the rising need to avoid vendor lock-ins, improve disaster recovery, and optimise costs has bolstered the popularity of multi-cloud management solutions.

Moreover, multi-cloud management has significant applications across various industries, thus fuelling the multi-cloud management market development. In the finance sector, it aids in risk management and ensures data security. The healthcare industry utilises multi-cloud management for patient data management and healthcare service delivery, while the retail sector leverages it to enhance customer experiences and streamline operations.

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In addition, the rising trend of digitalisation and the increasing adoption of advanced technologies such as artificial intelligence (AI) and machine learning (ML) have contributed to the multi-cloud management market expansion. These technologies, when integrated with multi-cloud management, can provide predictive analytics, automated processes, and personalised services, making cloud management more efficient for organisations.

The growing demand for Software as a Service (SaaS) in business operations has also led to a focus on multi-cloud management as a crucial service component. The rise of remote working practices and the increasing reliance on cloud-based applications have amplified the need for effective cloud management strategies, thereby boosting the multi-cloud management market expansion.

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Lastly, the increasing threats to data security and the need for regulatory compliance have made multi-cloud management an essential aspect of business strategy. With the proliferation of cyber threats and the stringent regulations on data handling and privacy, multi-cloud management has emerged as a critical tool in ensuring data protection and regulatory compliance, consequently driving the multi-cloud management market growth.

Multi-Cloud Management Market Segmentation

The market can be divided based on platform, service, deployment model, application, industry vertical, and region.

Market Breakup by Platform

  • Internal Brokerage Enablement
  • External Brokerage Enablement

Market Breakup by Service

  • Monitoring and Access Management
  • Training and Consulting
  • Reporting and Analytics
  • Cloud Automation
  • Data Security and Risk Management
  • Migration and Integration
  • Support and Maintenance
  • Others

Market Breakup by Deployment Model

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

Market Breakup by Application

  • Metering and Billing
  • Provisioning
  • Lifecycle Management
  • Identity and Policy Management
  • Compliance Management
  • Infrastructure and Resource Management
  • Others

Market Breakup by Industry Vertical

  • Energy and Utilities
  • Telecommunication and IT-enabled Services (ITES)
  • Travel and Hospitality
  • BFSI
  • Healthcare and Life Sciences
  • Retail and Consumer Goods
  • Government and Public Sector
  • Media and Entertainment
  • Others

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global multi-cloud management companies. Some of the major key players explored in the report by Expert Market Research are as follows:

  • VMware, Inc.
  • IBM Corporation
  • Microsoft Corporation
  • BMC Software, Inc
  • Cisco Systems, Inc.
  • Dell Technologies Inc.
  • CloudBolt Software, Inc.
  • Citrix Systems, Inc.
  • Jamcracker Inc.
  • Flexera Software LLC
  • Others

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