PORTLAND, Oregon and PUNE, India, February 1, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Multi-Cloud Management Market by Component, Deployment Model, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global multi-cloud management market was valued at $1,198.4 million in 2016, and is projected to reach $6,816.5 million by 2023, growing at a CAGR of 28.4% from 2017 to 2023. The services segment is anticipated to grow at the highest rate during the forecast period.
North America generated the highest revenue in the global multi-cloud management market in 2016 due to its technological advancements and developed infrastructure, regulatory compliances associated with multi-cloud deployments, and emerging cloud brokerage services. The Asia-Pacific multi-cloud management market is expected to grow at the highest rate, followed by LAMEA, which is expected to second highest CAGR during the forecast period. Asia-Pacific has unexplored market potential as the region is developing and has high rate of Internet penetration.
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The hybrid cloud deployment business segment contributed the highest share in 2016. This segment accounted for $450.3 million in 2016, and is projected to grow at the CAGR of 29.1% during the forecast period. The multi-cloud management market for public cloud segment is projected to grow at the second highest rate of 28.8%.
Infrastructure and resource management segment generated maximum share of revenue in 2016 and is expected to dominate the market throughput the forecast period at the CAGR of 27.1%. Among industry verticals, public sector is expected to witness highest CAGR of 32.1% during the forecast period, followed by retail.
The report features a competitive scenario of the global multi-cloud management industry and provides a comprehensive analysis of key growth strategies adopted by major players. The key players profiled in the study are BMC Software, VMWare, IBM, Accenture, CenturyLink, Cisco, Rightscale, Cloudyn, Jamcracker, and Citrix. These players have adopted competitive strategies, such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations, to augment the growth of the multi-cloud management market.
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KEY FINDINGS OF THE STUDY
- The software segment accounted for the highest share of the global multi-cloud management industry by component in 2016, growing at a CAGR of 27.8% from 2017 to 2023.
- The IT & telecom multi-cloud management market by industry vertical generated the highest revenue share in 2016, and is projected to grow at a rate of 22.4%.
- The North America multi-cloud management market generated the highest share, valued at $722.4 million, in terms of revenue in 2016.
- The multi-cloud management market in public sector is expected to witness the highest growth rate during the forecast period.
Summary of similar reports can be viewed at: https://www.alliedmarketresearch.com/information-and-communication-technology-and-media/software-and-services-market-report
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research