The multi-cloud management market size is expected to grow from USD 1,169.5 million in 2017 to USD 4,492.7 million by 2022, at a Compound Annual Growth Rate (CAGR) of 30.9% during the forecast period
LONDON, Nov. 6, 2017 /PRNewswire/ -- Avoidance of vendor lock-ins, increased agility and automation, and the need for a high-level of governance and policy are expected to be driving the multi-cloud management market
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The multi-cloud management market size is expected to grow from USD 1,169.5 million in 2017 to USD 4,492.7 million by 2022, at a Compound Annual Growth Rate (CAGR) of 30.9% during the forecast period. The multi-cloud management market is expected to be driven by factors, such as the need for business agility, faster deployment and scalability, the increasing awareness about cloud among enterprises globally, and the reduced costs of ownership. However, the enterprises face some obstacles due to the application portability on various cloud environments, and its compliance with stringent regulations.
External brokerage enablement platform is expected to have the fastest growth rate during the forecast period
The external brokerage enablement platform usually provides a multi-tenant cloud delivery and management platform to the Telecom Service Providers (TSPs), system integrators, Independent Software Vendors (ISVs), distributors, and cloud providers. The platform works as an interface between cloud brokers for providing seamless aggregation and customization services to the end-users. The external brokerage enablement platform is expected to grow in the coming years, due to the expanding marketspace for cloud brokers across the world.
Lifecycle management application is expected to have the fastest growth rate during the forecast period
The cloud lifecycle management application accelerates innovation through automated resource provisioning, governance, and management of available cloud services. Lifecycle management helps enterprises in managing the lifecycle of cloud-ready products to offer state-of-the-art Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS) service, and the reduced Time-to-Market (TTM) solutions. The major factors that are believed to be driving the growth of the overall multi-cloud management market are innovation, efficiency, agility, and security.
North America is expected to hold the largest market share, Asia Pacific (APAC) to grow the fastest
North America is expected to hold the largest market during the forecast period, as organizations are shifting toward cloud-based solutions and services, with the increasing adoption of digital business strategies. Furthermore, the organizations have invested hugely on advanced technologies to gain a competitive advantage and improve the business operations. APAC is said to be the fastest-growing region in the global multi-cloud management market. The key reasons for the high growth rate in APAC include the positive economic outlook in the region, increased spending on Information Technology (IT) infrastructure, and the tendency of multi-cloud management solutions to drive customer experience and improve the operational issues.
The break-up profiles of primary participants are given below:
• By company: Tier 1 – 43%, Tier 2 – 35%, and Tier 3 – 22%
• By designation: C-level – 60%, Director level – 25%, and Others – 15%
• By region: North America – 44%, Europe – 25%, APAC – 21%, and RoW – 10%
The following key multi-cloud management providers are profiled in the report:
1. BMC Software (US)
2. CenturyLink (US)
3. Accenture (Ireland)
4. VMware (US)
5. DoubleHorn (US)
6. RightScale (US)
7. CliQr (US)
8. Cloudyn (Israel)
9. Dell Technologies (US)
10. Jamcracker (US)
11. IBM (US)
12. Citrix (US)
Research Coverage
The multi-cloud management market has been segmented on the basis of platforms, applications, service types, deployment models, verticals, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overviews, services, key strategies, new service launches, partnerships, agreements and collaborations, business expansions, and competitive landscape associated with the multi-cloud management market.
The report will help the market leaders/new entrants in this market in the following ways:
• This report segments the multi-cloud management market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different regions.
• This report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
• This report helps stakeholders in better understanding the competitors and gaining more insights to better their position in the business. The competitive landscape section includes the vendor comparison of the top market players in the multi-cloud management market.
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