Cloud Management Platform Market Expands with Trends, Size Dynamics, and Growth Opportunities

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Cloud Management Platform Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The cloud management platform market size has grown rapidly in recent years. It will grow from $16.08 billion in 2023 to $18.79 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to need for resource optimization, focus on automation and orchestration, security and compliance concerns.

The cloud management platform market size is expected to see rapid growth in the next few years. It will grow to $37.58 billion in 2028 at a compound annual growth rate (CAGR) of 18.9%. The growth in the forecast period can be attributed to integration with DevOps practices, focus on cost optimization, container orchestration and Kubernetes integration, governance and policy automation. Major trends in the forecast period include enterprise digital transformation initiatives, hybrid cloud deployments, container orchestration and management, enhanced user experience and interface.

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Market Segmentation:
The cloud management platform market covered in this report is segmented -

1) By Component: IT Operations Management (ITOM), IT Service Management (ITSM), IT Automation And Configuration Management (ITACM)
2) By Deployment Mode: Private Cloud, Public Cloud, Hybrid
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Verticals: BFSI, Telecommunications, IT And ITeS, Government And Public Sector, Retail And Consumer Goods, Manufacturing, Energy And Utilities, Media And Entertainment, Healthcare

Major Driver - Cloud Computing's Role In Driving Cloud Management Platform Growth
The growing adaptability of cloud computing technology is expected to propel the growth of the cloud management platform. Cloud computing aims to improve internet-based database capabilities and scalability while lowering costs and risks. Organizations use cloud computing, or remote computers hosted on the Internet, to store, manage, and process essential data. These improvements and uses provide distribution of computing services such as servers, networking, software, analytics, storage, databases, and intelligence through the Internet to provide faster innovation, more flexible resources, and cost savings. For instance, according to the Flexera 2022, State of the Cloud report, a survey of 753 respondents on the cloud adoption was performed in 2021, the survey states an increase in Y-O-Y spending on cloud, with 53% spending $1.2 million in 2022, up from 38% in 2021. Therefore, the growing adaptability of cloud computing technology will drive the cloud management platform market growth.

Competitive Landscape:
Major companies operating in the cloud management platform market report are Google LLC, Microsoft Corporation, Dell Technologies Inc., Amazon Web Services Inc., Turbonomic Inc., International Business Machines Corporation, Cisco Systems Inc., Hewlett Packard Enterprise Company, CloudBolt Software Inc., VMware Inc., ServiceNow Inc., NetApp Inc., Citrix Systems Inc., Splunk Inc., BMC Software Inc., Nutanix Inc., Red Hat Inc., New Relic Inc., Rapid7 LLC, Cohesity Inc., Apptio Inc., LogicMonitor Inc., Flexera Software LLC, Flexera Software LLC, OpsRamp Inc., Scality Inc., CloudHealth Technologies Inc., CloudCheckr Inc., ParkMyCloud Inc., Fugue Inc., Zenoss Inc., Stratodesk Corporation

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Top Trend - Elevating Cloud Transformation With Multi-Hybrid Cloud And Edge-Integrated Management Platform
Major companies operating in the cloud management platform market are focusing on product launches, such as the multi-hybrid cloud and edge-integrated management platform designed for comprehensive cloud transformation. A multi-hybrid cloud refers to a computing environment that combines multiple public and private clouds, enabling seamless data and application portability across various cloud infrastructures. For instance, in April 2023, Cognizant, a US-based multinational information technology services and consulting company, launched Cognizant Skygrade, a multi-hybrid cloud and edge-integrated management platform. It distinguishes itself with features such as seamless integration across multi-cloud environments, unified views, accelerated migration, access to cloud features, reduced risk, holistic management, and an industry-focused approach. These attributes collectively position Skygrade as a valuable solution in the cloud management platform market, offering organizations a comprehensive and efficient tool to manage, modernize, and optimize their cloud estates while minimizing risks and enhancing industry-specific innovation.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cloud Management Platform Market Characteristics
3. Cloud Management Platform Market Trends And Strategies
4. Cloud Management Platform Market - Macro Economic Scenario
5. Cloud Management Platform Market Size And Growth
…..
27. Cloud Management Platform Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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