Global Multi-Cloud Management Market is expected to foresee significant growth. North America to lead the growth!

Multi-cloud management can be defined as the set of tools and techniques which helps the business in monitoring and securing applications and workloads across multiple public clouds. Thus, multiple public cloud services from different players within one architecture are used in multi-cloud computing (at the same time). For example, a business might use Google Cloud Platform for development and testing, AWS for data storage, and Microsoft Azure for disaster recovery. The boosting adoption of multi-cloud management platforms across various industries is one of the major driving forces.

The Multi-Cloud Management Market is expected to grow at a steady rate of around 25% during the forecast period (2022-2028) majorly due to the uncertainty of single cloud services, the rising need for a high level of governance & policy, and the growing adaptability of cloud computing technology. Major multi-cloud management market companies are focusing on organic growth strategies, such as product development and innovation for sustaining a competitive edge. For instance, in February 2021, VMware, Inc. refreshed its product, namely: VMware vRealize Cloud Management on-premises and Software-as-a-Service (SaaS). Due to the upgradation in products, customers’ hybrid and multi-cloud infrastructures will be more protected, optimized, and modernized.

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Based on solution, the market is segmented into Security & Risk Management, Training & Consulting, Reporting & Analytics, Cloud Automation, Managed Services, and Others. The cloud automation segment led the market in 2021, with a market share of more than 25%. The market players are increasingly opting for automation for managing various public, private, and hybrid cloud environments with limited human resources. Machine learning (ML) and artificial intelligence (AI) are anticipated to play an important role in the decision-making of cloud automation (including extensive log analysis). Various systems and solutions based on ML and AI help in analyzing large volumes of logging data and searching for patterns. The results obtained can be used to foresee the failure of server components or the breakdown of applications. In other words, cloud automation helps in capacity planning by aiding in forecasting infrastructure needs and requirements.

Based on enterprise size, the market is bifurcated into Small & Medium Enterprise (SME) and Large Enterprise. The large enterprise segment led the multi-cloud management market in 2020, with a market share of more than 50%. A multi-cloud strategy enables enterprises to select from various cloud services and choose those suiting their specific business requirements. The ML capabilities of multi-cloud environments benefit large data transfers, thus, leading to increased demand for multi-cloud management solutions and services from large enterprises. Further, enterprises can select a cloud provider with data centers closer to their clients to enhance the performance indicators and lessen the latency rate.

Based on end-use, the multi-cloud management market is segmented into BFSI, IT & Telecom, Manufacturing, Healthcare, Government, and Others. The BFSI segment led the multi-cloud management market in 2020, with a market share of more than 20%. In the BFSI industry, multi-cloud management helps in enhancing operational efficiency and ensuring prompt customer service. Also, the companies operating in the BFSI industry prefer multi-cloud environments to have a backup in the case of the failure of one cloud, as, another cloud could take over it. Adding to this, multi-cloud management also secures the workload settings and ensures that regulatory compliance is high. Further, the market players in the BFSI industry are majorly following inorganic growth strategies, such as mergers, acquisitions, partnerships, and collaborations, to sustain the competitive environment. For instance, in September 2021, Temenos collaborated with IBM Corporation for increasing the adoption of hybrid cloud in the BFSI industry vertical. Temenos announced the ease of access of ‘Temenos Transact next-generation core banking’ with Red Hat OpenShift on IBM Cloud. The main aim of the collaboration was to expand the multi-cloud market for the BFSI industry.

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For a better understanding of the market adoption of the multi-cloud management industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific), Rest of World. North America led the multi-cloud management market in 2020 with a market share of more than 35%. Cloud services are transitioning in the region at a rapid pace, i.e., from isolated cloud solutions to platforms combining private IaaS, public, and onsite. The rising adoption of connected and IoT-enabled devices and the continued rollout of wireless connectivity have increased the demand for technologically advanced products and solutions. Thus, leading the market players to invest aggressively in the latest technologies for surviving in the competitive environment. Further, the growing demand for efficient computing frameworks is also contributing to the growth of the North American multi-cloud management market.

Some of the major players operating in the multi-cloud management market include BMC Software, Inc., Citrix Systems Inc., CloudBolt Software, Inc., CoreStack, Dell Technologies Inc., Flexera, Jamcracker, Inc., Microsoft Corporation, UnityOneCloud, and VMware Inc.

Global Multi-Cloud Management Market Segmentation

Market Insight, by Solution

• Security & Risk Management
• Training & Consulting• Reporting & Analytics• Cloud Automation• Managed Services• Others

Market Insight, by Enterprise Size

• Small & Medium Enterprise (SME)
• Large Enterprise

Market Insight, by End-Use

• BFSI
• IT & Telecom• Manufacturing• Healthcare• Government• Others

Market Insight, by Region

• North America
  • US
  • Canada
  • Rest of North America
• Europe
• Germany
• United Kingdom
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World

Top Company Profiles

• BMC Software, Inc.
• Citrix Systems Inc.
• CloudBolt Software, Inc.
• CoreStack
• Dell Technologies Inc.
• Flexera
• Jamcracker, Inc.
• Microsoft Corporation
• UnityOneCloud
• VMware Inc.