SaaS-based pay-per-use models to become essential components of Cloud Management Platforms; to bolster additional demand and propel market growth

Cloud Management Platform (CMP) market is expected to reach USD 21,068.5 million by the end of 2026.

Bizlytik analysts forecast the global Cloud Management Platform (CMP) market to grow at a CAGR of 20.4% during the forecast period, according to their latest market research report.

Cloud Management Platform solutions are designed to assist in the monitoring and control of several cloud-based computing services of an organization. The software tools can also generate information and intel into the working of the end-users, thereby helping a provider strategize its effective business plan.

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The rising enterprise demand for a smooth transition of workload to cloud services and increasing need to effectively manage multiple cloud APIs and storage allocation are the influential primary factors that would bolster the growth prospects of the market during the forecast period. The cloud management platforms provide practical tools for the management of cloud computing resources across multiple cloud environments, which would boost the productivity of an organization by eliminating migration issues over public or private cloud deployment. The cloud management platforms are also able to strategize and streamline a compelling proposal for cloud migration and workload mobility, which would not require any manual intervention or supervision for an automated process. The rapid cloud service integration and migration among emerging SMEs would provide crucial vendors with new opportunities for the product application and business expansion over the forecast period.

The ongoing implications of the Covid-19 pandemic have generated a necessity to allow employees to work from remote locations. Even after the laxation of restrictions in several parts of the globe, companies are continuing to operate with all non-essential staff working from home.
While the world continues to shelter itself from the Covid-19 pandemic, the cloud-enabled services have become the go-to model of service continuity for most of the commercial enterprises around the globe. The evident rise in the usage of cloud-based telecommunication and entertainment applications are another lucrative prospect of growth for vendors of cloud management platforms. As businesses adopt more and more SaaS-based models of operability, the cloud management platforms will become increasingly necessary to manage high traffic services. The accelerated adoption of cloud services among emerging organizations of the media, healthcare, educational, and telecommunication sectors would offer additional revenue generation streams for most of the cloud management platform vendors during such unprecedented times.

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SaaS and On-Premise are covered in the Type segment of the market. In contrast, the application segment is categorized into Financial, Internet, Retail, and Others. The report covers the overall value of the market, both in terms of Type and Application.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration while arriving at the global volume and value figures. While North America is further categorized into the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America is a lucrative prospect for consistent product adoption to solution providers owing to the radical rise in the number of enterprises that have already translated their entire operational capabilities to cloud services.
The increasing regional investments to adopt advanced solutions in the cloud computing sphere would influence the continued regional market growth.

The Cloud Management Platform (CMP) market is relatively fragmented, with several global and regional companies operating with comprehensive software solutions and business capabilities to cater to the needs of a global consumer base. The formation of strategic collaborations to expand business capabilities and launch of new technologically advanced solutions are the primary business strategies of top players.
VMware, Inc. is one of the most significant companies of the global Cloud Management Platform (CMP) Market in terms of production value, with Microsoft Corporation and Red Hat, Inc. among many other vendors to hold substantial market share by value.

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Cloud Management Platform (CMP) Market Key Segments:

By Type
• SaaS
• On-Premise
By Application
• Financial
• Internet
• Retail
• Others

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Bizlytik is a market research and consulting firm which operates in the business to business research space. We provide qualitative and quantitative research reports for all the major industry domains to clients across the globe. Bizlytik is one of the leading provider of global business intelligence which includes, market, product, consumer, competitor, and vendor information along with insightful analysis.

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