Cloud Management Platform Market Size Was Valued At Approximately USD 13.6 Billion In 2022 And Was Expected To Grow At A CAGR Of Around 18%

The global cloud management platform market size was valued at approximately USD 13.6 billion in 2022 and was expected to grow at a CAGR of around 18%.

A thorough analysis of the industry for the anticipated time is provided in the report on the global hybrid cloud management platform market. The study includes a number of divisions as well as an analysis of the trends and other elements that are significantly influencing the market. These variables, or the market dynamics, include the motivators, inhibitors, opportunities, and difficulties through which the market impact of these variables is described. Opportunities and challenges are external market aspects, whereas drivers and restraints are fundamental market forces. The market analysis on the global hybrid cloud management platform gives a forecast of how the industry will grow in terms of revenue during the forecast period.

It is crucial to recognise the significance of Multi-Cloud Management Platforms as a consultant or industry expert because they provide businesses with a host of advantages. Businesses can efficiently manage their cloud infrastructures, services, applications, and resources across different cloud providers thanks to multi-cloud management. Better cost optimisation, higher flexibility, and improved performance efficiencies are the benefits, and these are essential in today's cutthroat corporate environment.

According to market research, the market for multi-cloud management platforms has been continuously expanding over the years due to the rising use of cloud services by businesses of all kinds and in a variety of sectors. In the near future, the trend is anticipated to continue as more businesses choose Multi-Cloud Management Platforms to oversee their cloud systems. Vendors in the market now have fantastic opportunity to provide cutting-edge products that can meet the various wants of customers.

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Segmentation:

Company Profiles:

• VMware Inc.
• IBM Corporation
• Microsoft Corporation
• Cisco Systems Inc.
• BMC Software Inc.
• Red Hat Inc.
• Dell Technologies Inc.
• Citrix Systems Inc.
• ServiceNow Inc.
• CloudBolt Software Inc.
• RightScale Inc.
• Scalr Inc.
• CloudHealth Technologies Inc.
• Turbonomic Inc.
• Embotics Corporation

By Deployment Model:
• Public Cloud
• Private Cloud
• Hybrid Cloud
• Multi-cloud

By Organization Size:
• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

By Industry Verticals:
• Banking, Financial Services and Insurance (BFSI)
• Healthcare and Life Sciences
• IT and Telecommunications
• Manufacturing
• Government and Public Sector
• Retail and Consumer Goods
• Media and Entertainment
• Others

Geographical Analysis:

North America: The North America region is expected to dominate the cloud management platform market due to the presence of major cloud service providers and enterprises. The increasing adoption of cloud-based services by SMEs and large organizations is driving the market growth in this region. For instance, in 2020, Amazon Web Services (AWS) launched a new cloud management tool named AWS Resource Groups Tagging API, which allows users to tag AWS resources and search them based on the tag.

Europe: The Europe region is also expected to witness significant growth in the cloud management platform market due to the increasing adoption of cloud-based services and the growing demand for automation and orchestration of cloud resources. For instance, in 2020, Google Cloud acquired CloudSimple, a cloud migration and DRaaS provider, to simplify the migration of VMware workloads to Google Cloud.

Asia-Pacific: The Asia-Pacific region is expected to witness significant growth in the cloud management platform market due to the increasing adoption of cloud-based services by SMEs and large enterprises. The growing investments in cloud infrastructure and the increasing demand for efficient cloud resource management are driving the market growth in this region. For instance, in 2020, Alibaba Cloud launched a new cloud management platform named Cloud Enterprise Network 2.0 to simplify the management of hybrid cloud resources.

Latin America: The Latin America region is also expected to witness significant growth in the cloud management platform market due to the increasing adoption of cloud-based services and the growing demand for efficient cloud resource management. The increasing investments in cloud infrastructure and the growing adoption of digital technologies are driving the market growth in this region. For instance, in 2020, Microsoft launched a new cloud management platform named Azure Orbital to simplify the management of satellite data and applications on Azure.

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Middle East and Africa: The Middle East and Africa region is also expected to witness significant growth in the cloud management platform market due to the increasing adoption of cloud-based services by SMEs and large organizations. The growing demand for efficient cloud resource management and the increasing investments in cloud infrastructure are driving the market growth in this region. For instance, in 2020, Oracle launched a new cloud management platform named Oracle Cloud Observability and Management Platform to provide a unified view of the IT infrastructure across cloud and on-premises environments.

Based on the historical growth rate of the sector and current market trends, it is possible to assess the size and forecast of the Multi-Cloud Management Platform market. Over the past few years, there has been tremendous expansion in the market for Multi-Cloud Management Platforms, and this trend is anticipated to continue in the years to come. Due to the many uses and advantages of Multi-Cloud Management Platform, this increase might be linked to the rising demand for it. Market research findings predict that the global Multi-Cloud Management Platform market will grow significantly. The rising demand for Multi-Cloud Management Platform from a variety of industries, including healthcare, the automobile, and consumer products, is responsible for this increase. The market expansion of Multi-Cloud Management Platform is also being driven by the increasing public awareness of its advantages.

Drivers:

The growing adaptability of cloud computing technology is projected to promote the growth of cloud management platforms. Cloud computing aims to improve the efficiency and safety of internet-based databases while lowering costs and risks. Businesses employ cloud computing/remote PCs hosted online to store, manage, and analyse critical data. These developments and uses enable faster innovation, more flexible resource utilisation, and cost savings by dispersing computing services such as servers, software, networking, analytics, databases, storage, and intelligence over the Internet.

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Key Question Answered:

1. What is the current size and growth rate of the multi-cloud management platform market?

2. What are the key factors driving the demand for multi-cloud management platforms?

3. What are the various applications of multi-cloud management platforms in different industries?

4. What are the major challenges faced by vendors in the multi-cloud management platform market?

5. Which region is expected to witness the highest growth in the multi-cloud management platform market?

6. Who are the leading players in the multi-cloud management platform market and what are their market shares?

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