Multi-Cloud Management Market revenue to cross USD 55 Bn by 2030: Global Market Insights Inc.
Selbyville, Delaware, May18, 2022(GLOBE NEWSWIRE) --
The multi-cloud management market size is expected to record a valuation of USD 55 billion by 2030, according to the most recent study by Global Market Insights Inc. The market growth is attributed to the increasing adoption of cloud computing technology.
Supportive government initiatives toward the acceptance of cloud computing technology are driving the market expansion. The governments of various countries, including India, China, the U.S., the UK, etc., are embracing cloud technologies for expanding their e-governance initiative throughout countries.
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The private cloud segment held 20% of multi-cloud management market share in 2021. This growth is credited to the growing adoption BYOD trend and increasing deployment of a mobile workforce across the country. During COVID-19, the demand for private cloud solution increased due to increasing instances of cyberattacks. Private cloud provides advanced privacy and security features in order to protect sensitive and confidential information. Significant cost savings, flexibility, and easy to control are the major factors supporting the industry growth of multi cloud management.
Large enterprises are expected to grow significantly during the forecast timeline owing to the growing demand for replacing legacy, on-premise infrastructure. They have been early adopters of multi-cloud computing on account of the extensive use of SaaS models such as CRM and ERP solutions. High spending on cloud computing by large enterprises for accelerating delivery of IT services is spurring the multi-cloud management market progression.
The monitoring and access management projected exponential industry share in 2021. This growth can be attributed to growing instances of cyber-attacks. The increasing incidents of cyber threats has increased the need for advanced monitoring and access management solutions as cloud infrastructure is more vulnerable to them; hence, several cloud service providers are emphasizing on providing better monitoring management services to end-users.
The multi-cloud management market for media & entertainment sector is predicted to observe a 30% growth rate till 2030 due to growing digitalization across the sector. Cloud in media and entertainment meets the customer expectations at a minimal cost. Several media and entertainment companies have switched their workload from on-premises to the cloud.
North America is projected to grow exponentially in the global multi-cloud management market owing to the growing usage of advanced technologies and an increasing demand for 5G networks. The presence of software giants, such as Cisco Systems, BMC Software, IBM Corporation, and Microsoft, and advancements in IoT & cloud-based solutions are boosting the deployment of multi-cloud & multi-cloud management systems.
Major players operating in the multi-cloud management market include Accenture Plc, BMC Software, Inc, CenturyLink (Lumen Technologies), Citrix Systems, Inc, Cisco Systems, Inc, Cloudmore AB, Cloudyn Software Ltd., Dell Technologies, Inc, Flexera Software LLC, and IBM Corporation. These leaders are focusing on developing advanced multi cloud management solutions & platforms.
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Some of the major findings of the multi-cloud management market report include:
Table of Contents (ToC) of the report
Chapter 3 Multi-Cloud Management Market Insights
3.2Impact of the COVID-19 outbreak
3.2.2Strategies by key players to achieve pre-COVID level growth
3.3Impact of Russia-Ukraine War
3.3.1Impact on technology supply chain
3.3.2Response of global enterprises
3.3.3Region-wise response on the Russia-Ukraine crisis
3.4Industry ecosystem analysis
3.4.1Multi-cloud software providers
3.4.2Managed cloud service providers
3.4.3Third-party service providers
3.4.6Profit margin analysis
3.5Technological and innovation landscape
3.9Industry impact forces
184.108.40.206Rising popularity of BYOD trends
220.127.116.11Surging adoption of cloud platforms across SMEs
18.104.22.168Rising penetration of cloud computing services
22.214.171.124Strong government support to promote cloud adoption
126.96.36.199Growing popularity of hybrid cloud computing
3.9.2Industry pitfalls and challenges
188.8.131.52Rising incidents of cyberattacks
184.108.40.206Lack of skilled professionals
3.10Growth potential analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/multi-cloud-management-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.