Multi-Cloud Management Market by Application, Business Sector, Deployment Model, and Component-wise: Opportunity Analysis and Industry Forecast 2023

According to a new report published by Allied Market Research, the global multi-cloud management market was valued at $1,198.4 million in 2016, and is projected to reach $6,816.5 million by 2023, growing at a CAGR of 28.4% from 2017 to 2023. The services segment is anticipated to grow at the highest rate during the forecast period.

Multi-cloud management refers to the practice of overseeing and controlling multiple cloud computing services from different providers. Organizations may choose to use multiple cloud providers to avoid vendor lock-in, enhance redundancy and disaster recovery, optimize costs, and leverage specialized services from different providers. Effectively managing multiple clouds involves addressing various challenges, including interoperability, security, compliance, and performance.

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The multi-cloud management market is currently experiencing robust growth and is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 28.4% throughout the forecast period. Factors contributing to this growth include the escalating demand to mitigate vendor lock-in concerns among cloud users, the expanding Internet penetration in the Asia-Pacific region, a growing necessity for policy compliance mandated by regulatory bodies regarding data sovereignty, and heightened uncertainties surrounding singular cloud deployments. These dynamics collectively propel the expansion of the global multi-cloud management market.

A multi-cloud application management platform (Multi-Cloud CAMP) represents a cloud approach designed to oversee the utilization of various public, private, or hybrid cloud platforms along with the associated resources of users, ultimately enhancing data management efficiency. The report integrates thorough quantitative analysis and comprehensive qualitative examination, spanning from a high-level perspective of the overall market size, industry structure, and market dynamics to detailed insights into segment markets based on type, application, and region. Consequently, it offers a comprehensive and insightful perspective on the Multi-Cloud Management market, encompassing all critical facets.

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Enterprise multi-cloud management solutions enable the centralized administration of diverse cloud services, encompassing Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS). This approach empowers organizations to deploy and oversee sophisticated applications across a spectrum of public, private, and hybrid clouds. Through multi-cloud management, businesses can streamline the coordination of cloud storage while enhancing overall security. Anticipated drivers for industry expansion in the foreseeable future include the widespread deployment of high-speed 5G networks, advancements in cutting-edge technologies like AI and machine learning, and the increased adaptability offered by the latest developments in cloud computing.

In 2016, North America emerged as the top revenue-generating region in the global multi-cloud management market, driven by its technological advancements, well-developed infrastructure, adherence to regulatory compliances in multi-cloud deployments, and the rise of cloud brokerage services. Anticipated to experience the highest growth rate, the Asia-Pacific market, followed by LAMEA, is poised to achieve the second-highest Compound Annual Growth Rate (CAGR) during the forecast period. The Asia-Pacific region, characterized by ongoing development and a substantial rate of Internet penetration, presents untapped market potential.

The hybrid cloud deployment segment was the most significant contributor in 2016, accounting for $450.3 million and projected to grow at a CAGR of 29.1% throughout the forecast period. The public cloud segment in multi-cloud management is expected to register the second-highest growth rate at 28.8%.

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Within the market segments, infrastructure and resource management garnered the highest revenue share in 2016 and is predicted to maintain dominance with a CAGR of 27.1% over the forecast period. Examining industry verticals, the public sector is poised to witness the highest CAGR of 32.1%, closely followed by the retail sector.

The largest manufacturers of Multi-Cloud Management Market worldwide:

• DoubleHorn Communications LLC
• Jamcracker Inc.
• Flexera Software LLC
• CliQr Technologies, Inc.
• Dell Technologies Inc.
• IBM Corp.
• Citrix Systems Inc.
• CenturyLink Inc.
• BMC Software, Inc.
• Cloudyn Software Ltd.
• VMware Inc.

The competitive landscape of the global multi-cloud management industry is detailed in the report, offering a comprehensive analysis of key growth strategies implemented by major players. These industry leaders have embraced competitive strategies such as geographical expansions, mergers and acquisitions, new product launches, and partnerships and collaborations to bolster the growth of the multi-cloud management market.

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