Multi-Cloud Management Market Size and CAGR by 2031
The multi-cloud management market size is projected to reach US$ 47.54 billion by 2031 from US$ 7.85 billion in 2023. The market is expected to register a CAGR of 25.3% during 2023–2031. The surge in need to avoid vendor lock-in. Vendor lock-in refers to a situation where an organization chooses to transfer its business from its current vendors but cannot do so because of several reasons, such as projected cost, duration, and complexity of switching and the rise in demand for disaster recovery solutions are likely to be the key trends and drivers for the multi-cloud management market.
Multi-Cloud Management Market Analysis
The multi-cloud management market is experiencing significant growth globally. This growth is attributed to the surge in the need to avoid vendor lock-in and the rise in demand for disaster recovery solutions. Moreover, the growing popularity of the hybrid cloud, increase in data generation and rise in bring your device (BYOD) and choose your device (CYOD) are anticipated to drive the market in the coming years.
Multi-Cloud Management Market Overview
Multi-cloud management is considered a set of tools and procedures that enables a business to secure and monitor applications and workloads across multiple public clouds. A multi-cloud management solution enables IT teams to manage multiple clouds from a single interface and supports multiple cloud platforms such as Azure and AWS.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Multi-Cloud Management Market: Strategic Insights
Market Size Value in US$ 7,769.40 Million in 2022 Market Size Value by US$ 33,481.70 Million in 2028 Growth rate CAGR of 27.6% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Multi-Cloud Management Market: Strategic Insights
| Market Size Value in | US$ 7,769.40 Million in 2022 |
| Market Size Value by | US$ 33,481.70 Million in 2028 |
| Growth rate | CAGR of 27.6% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Multi-Cloud Management Market Drivers and Opportunities
Rise in Demand for Disaster Recovery Solutions to Favor Market
Disaster Recovery (DR) is a crucial aspect of any cloud deployment. According to statistics from World Backup Day, 10% of computers are attacked by viruses each month, and 30% of people never back up their data. Furthermore, mishaps, including staff members erasing data that was not backed up elsewhere, account for 29% of disasters. Moreover, various companies in the market are engaged in offering disaster recovery solutions. For example, the Persistent Multi-Cloud Disaster Recovery solution enables enterprises to accomplish application mobility and data protection without any limitations to achieve business resistance. IT managers can securely and quickly protect every application, operating system, container, database, data, etc., in a hybrid and multi-cloud infrastructure.
Acceptance of Cloud Solutions as Mainstream IT Deployment Option.
The majority of businesses globally accept cloud services as a feasible IT deployment model. The highest popular rationale for cloud adoption continues to be the flexibility and data security of the cloud as a delivery platform. Many businesses have migrated to one or more cloud services, influencing others to uptake the cloud to gain a competitive advantage. Cloud is currently recognized as a credible deployment model within the context of an organization’s IT strategy, with satisfaction levels remaining high and the global two-thirds of end users using a cloud service today expecting to expand their footprint over the coming year.
Multi-Cloud Management Market Report Segmentation Analysis
Key segments that contributed to the derivation of the multi-cloud management market analysis are component, deployment, application, and verticals.
- Based on component, the multi-cloud management market is divided into software and service. The software segment is anticipated to hold a significant market share in the forecast period.
- Based on deployment, the multi-cloud management market is divided into public cloud and private cloud. The public cloud segment is anticipated to hold a significant market share in the forecast period.
- By application, the market is segmented into infrastructure and resource management, identity and policy management, compliance management, metering and billing, and provisioning and lifecycle management. The infrastructure and resource management segment is anticipated to hold a significant market share in the forecast period.
- By Verticals, the market is segmented into IT and telecom, BFSI, government, retail and consumer goods, travel and hospitality, healthcare and life science, and others. The IT and telecom segment is anticipated to hold a significant market share in the forecast period.
Multi-Cloud Management Market Share Analysis by Geography
The geographic scope of the multi-cloud management market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the multi-cloud management market. The increase in the multi-cloud management market in North America is majorly attributed to a drastic increase in data, the rising adoption of IoT and cloud infrastructure, and a surge in data center construction. Cloud computing is a major trend across all organizations in North America. The cloud is fast becoming the new norm for enterprises in the US and Canada. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of multi-cloud management market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the multi-cloud management market.
Multi-Cloud Management Market Report Scope
Multi-Cloud Management Market News and Recent Developments
The multi-cloud management market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the multi-cloud management market are listed below:
- Oracle and Google Cloud announced a partnership that gives customers the choice to combine Oracle Cloud Infrastructure (OCI) and Google Cloud technologies to help accelerate their application migrations and modernization. (Source: Oracle, Company Website, June 2024)
- Verizon Business has announced Network as a Service (NaaS) Cloud Management, a new service that enables businesses to control application components and network architecture across multiple cloud environments – public, private and hybrid, in a unified online portal. (Source: Verizon, Company Website, February 2024)
Multi-Cloud Management Market Report Coverage and Deliverables
The “Multi-Cloud Management Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Multi-cloud management market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Multi-cloud management market trends as well as market dynamics such as drivers, restraints, and key opportunities.
- Detailed PEST/Porter’s Five Forces and SWOT analysis.
- Multi-cloud management market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Multi-cloud management market.
- Detailed company profiles.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Deployment, Application, Verticals, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The expected CAGR of the multi-cloud management market is 25.3%.
The global multi-cloud management market is expected to reach US$ 47.54 billion by 2031.
The increasing popularity of hybrid cloud is anticipated to drive the market in the forecast period.
The key players holding majority shares in the global multi-cloud management market are BMC Software Inc., Cisco Systems, Inc., Flexera, International Business Machines Corporation, Micro Focus International plc, Zerto Ltd., VMware, Inc., Snow Software, Inc., UnityOneCloud, Dynatrace, Inc.
The surge in the need to avoid vendor lock-in and the rise in demand for disaster recovery solutions are some of the factors driving the multi-cloud management market.
North America is anticipated to dominate the multi-cloud management market in 2023.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Multi-Cloud Management Market
Aug 2024
Environmental Consulting Service Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Service Type (Investment Assessment and Auditing, Permitting and Compliance, Project and Information Management, Monitoring and Testing, and Others), Media Type (Water Management, Waste Management, and Others), Vertical (Energy and Utilities, Chemical and Petroleum, Manufacturing and Process Industries, Transportation and Construction Industries, and Others), and Geography
Aug 2024
Cloud OSS BSS Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By solution [OSS (Network Management & Orchestration, Resource Management, Analytics & Assurance, and Service Design & Fulfilment) and BSS (Billing & Revenue Management, Product Management, Customer Management, and Others)], Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), Enterprise Size (Small & Medium Enterprises and Large Enterprises), and Industry (IT & Telecom, BFSI, Media & Entertainment, Healthcare, and Others), and Geography
Aug 2024
Unified Endpoint Management Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Solutions and Services), Deployment Type (Cloud-Based and On-Premise), Platform (Desktop and Mobile), Organization Size (Large Enterprises and SMEs), End User (BFSI, Government and Defense, Healthcare, IT and Telecom, Automotive and Transportation, Retail, Manufacturing, and Others), and Geography
Aug 2024
AI in Computer Vision Market
Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Software and Hardware) and End Use Industry (Security and Surveillance, Manufacturing, Automotive, Retail, Sports and Entertainment, and Others), and Geography
Aug 2024
Automotive Dealer Management System Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Software and Services), Application (Inventory Management, Appointment Scheduling, Customer Relationship Management, Dealer Tracking, and Others), Deployment (Cloud-Based and On-Premise), and Geography
Aug 2024
Electronic Data Interchange Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Services), Type (Direct Electronic Data Interchange, Electronic Data Interchange via AS2, Electronic Data Interchange via VAN, Mobile Electronic Data Interchange, Web Electronic Data Interchange, Electronic Data Interchange Outsourcing, and Others), Industry (BFSI, Retail & Consumer Goods, Healthcare, IT & Telecommunication, Transportation & Logistics, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Aug 2024
Artificial Intelligence (AI) in Agriculture Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software, and Services), Application (Precision Farming, Drone Analytics, Agriculture Robots, Livestock Monitoring, and Others), and Geography
Aug 2024
Data Center Construction Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Types of Construction (General Construction, Electrical Design, and Mechanical Design); By Tier Standards (Tier 1 and Tier 2, Tier 3, and Tier 4); and By Industry Verticals (BFSI, Government, Education, Manufacturing, Retail, Transportation, Media & Entertainment, Others), and Geography
Get Free Sample For