Multi-Cloud Management Market 2020 - key vendors, growth probability, and future scenario

The global multi-cloud management market was pegged at $1.20 billion in 2016 and is projected to reach $6.82 billion by 2023, growing at the CAGR of 28.4% during the forecast period.

Rise in need to avoid vendor lock-in, uncertainty about single cloud reliability, and the growing inclination toward price-sensitive cloud deployments have boosted the growth of the multi-cloud management market. However, difficulty in the management of complex multi-cloud management system and need to check compliance, as different vendors are involved, hinder the market growth. On the contrary, rising adoption of hybrid & public cloud, availability of cloud services brokerage, and forward integration among independent service providers to offer SaaS services are expected to create lucrative opportunities for the market players in the near future.

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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 a maximum share of revenue in 2016 and is expected to dominate the market throughout the forecast period at the CAGR of 27.1%. Among industry verticals, the public sector is expected to witness the highest CAGR of 32.1% during the forecast period, followed by retail.

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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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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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