Multi-Cloud Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component (Software and Service), Deployment (Public Cloud and Private Cloud), Application (Infrastructure and Resource Management, Identity and Policy Management, C

According to our latest study on "" Multi-Cloud Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, Deployment, Application and Verticals," the multi-cloud management market is projected to grow from US$ 7,769.40 million in 2022 to US$ 33,481.70 million by 2028; it is estimated to grow at a CAGR of 27.6% from 2022 to 2028.

For sample pages and special offers, please visit https://www.thinkingcapsrc.com/reports/2340/multi-cloud-management-market

Rise in Demand for Disaster Recovery Solutions Fuel Multi-Cloud Management Market Growth

For sample pages and special offers, please visit https://www.thinkingcapsrc.com/reports/2340/multi-cloud-management-market

Disaster Recovery (DR) is an important aspect of any cloud deployment. According to statistics from World Backup Day, 10% of computers are infected by viruses each month, and 30% of people never back up their data. Furthermore, mishaps such as staff members erasing data that was not backup elsewhere account for 29% of disasters. Ransomware is another problem that has grown over the past few years. Getting crucial operating data locked up can be disastrous if one cannot access recent backups kept in a different location. Moreover, events such as fires, power outages, and earthquakes can cause a data center disaster. Once the disaster occurs, the most important task for IT is to recover from the disaster and get everything back in working order. Disaster recovery is an organization's procedure to restart regular operations following a service outage. Multiple clouds might be used by companies that offer disaster recovery services. Adoption of multiple cloud will enhance the multi-cloud management market growth in the forecast period. Furthermore, using several clouds at once might reduce the risk when using a public cloud for apps and data. Cost, security, and control loss are the most frequent obstacles to cloud adoption. A business can choose which workloads to run and where to run them by utilizing a multi-cloud infrastructure, which gives it more flexibility and control. Thus, the disaster recovery flexibility offered by multi-cloud management contributes to the growth of the multi-cloud management market.

For sample pages and special offers, please visit https://www.thinkingcapsrc.com/reports/2340/multi-cloud-management-market

North America is a frontrunner in terms of the acceptance and development rate of emerging technologies, such as smartphones and cloud computing. Lockdowns prevailed during the COVID-19 pandemic spurred fundamental changes in lifestyles and work life of people. A significant shift in day-to-day activities, in the form of remote work and virtual collaborations; increase in video streaming; a rise in online gaming; and a surge in the need for data security are the changes that are likely to last long post pandemic, which has triggered the adoption of multi-cloud services in North American countries. Moreover, the hastened shift to a work-from-home model has triggered the need for multi-cloud in enterprises, which has benefited the multi-cloud management market growth. Furthermore, financial service institutions in North America are leading in cloud adoption; cloud workload adoption accounted for 54% in the US and 52% in Canada. The e-commerce industry is a major contributor to rising cloud adoption across the country. The increase in the number of e-commerce users is expected to hold potential opportunities for the multi-cloud management market growth.

For sample pages and special offers, please visit https://www.thinkingcapsrc.com/reports/2340/multi-cloud-management-market

The five leading global multi-cloud management market players include UnityOneCloud; Micro Focus, Microsoft, IBM; and VMware, Inc.. The positioning of these "Five Key Players" is derived by giving weightage to the following key performance parameters-overall revenue, segment revenue, geographical reach, customer base, new solution/service launches, market initiatives, investment in technology up-gradation, R&D investments, mergers & acquisitions, and other market-related activities. Other notable multi-cloud management market players profiled in the global report are BMC Software; Snow Software, Inc.; Cisco; Dynatrace, Inc.; Flexera; and Zerto Ltd.

For sample pages and special offers, please visit https://www.thinkingcapsrc.com/reports/2340/multi-cloud-management-market

Key Findings of Study:

For sample pages and special offers, please visit https://www.thinkingcapsrc.com/reports/2340/multi-cloud-management-market

The multi-cloud management market has been segmented on the basis of deployment, enterprise size, industry, and geography. Based on deployment, the multi-cloud management market is bifurcated into on-premises and cloud. In terms of enterprise size, the multi-cloud management market is bifurcated into small and medium enterprises and large enterprises. Based on industry, the multi-cloud management market is segmented into BFSI, IT & telecom, manufacturing, healthcare, government & defense, transport & logistics, retail, and others. Based on geography, the multi-cloud management market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

For sample pages and special offers, please visit https://www.thinkingcapsrc.com/reports/2340/multi-cloud-management-market

The demand for public cloud based multi-cloud management is higher than that for private cloud owing to lower deployment cost, no maintenance and high reliability. Moreover, public cloud is the most common type of cloud computing deployment as with public cloud, there is no need to purchase hardware or software and you pay only for the service you use. Owing to all these factors, the demand for public cloud in multi-cloud management market is increasing. Furthermore, rising demand for cloud-based software and the key multi-cloud management market players are offering on-cloud based products in the multi-cloud management market. Internet infrastructure has matured in developed countries and is flourishing in several developing countries, which allows end users in both developed countries as well as developing countries to access the cloud-based solutions. This factor is positively influencing the adoption of multi-cloud management among various industries. Moreover, owing to the incremental advancements in cloud computing, cloud-based solutions are experiencing significant growth. Hence, all above-mentioned factors drive the multi-cloud management market growth in the public cloud segment.

For sample pages and special offers, please visit https://www.thinkingcapsrc.com/reports/2340/multi-cloud-management-market

Thinking Caps Market Reports
Bangalore, India
Sayantan Paul
CEO and Founder
+1 800 257 6445
connect@thinkingcapsrc.com

Thinking Caps is a research powerhouse dedicated towards making your business decisions easier, faster and cost effective.

Equipped with a multi-publisher dynamic repository of readily available syndicate industry reports, Thinking Caps helps you maximize RoI through incisive insights, credible data analysis, updated company information, and the opportunity to expand your horizon through additional bespoke research. We help you take tangible decisions positively impacting your business growth.

This release was published on openPR.