Multi-Cloud Management Market Trends, Top Companies, Share, Growth And Forecast 2033

The multi-cloud management market size has grown exponentially in recent years. It will grow from $9.66 billion in 2023 to $12.39 billion in 2024 at a compound annual growth rate (CAGR) of 28.2%. The growth in the historic period can be attributed to growing cloud adoption, complexity of multi-cloud environments, security concerns, cost optimization needs, operational efficiency demands.

The multi-cloud management market size is expected to see exponential growth in the next few years. It will grow to $32.1 billion in 2028 at a compound annual growth rate (CAGR) of 26.9%. The growth in the forecast period can be attributed to advanced security requirements, focus on cost governance, increased complexity of multi-cloud environments, hybrid cloud expansion, regulatory compliance challenges. Major trends in the forecast period include rapid technological advancements, increased adoption of multi-cloud strategies, rising importance of interoperability, focus on cost optimization, automation for efficient management.

Market Overview -
Multi-cloud management is the process of managing and optimizing a multi-cloud deployment that uses numerous public cloud services from various providers. It supports numerous cloud platforms and new tools, and it enables IT teams to manage multiple clouds from a single interface.

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Rising Adoption of Multi-Cloud Management to Harness and Optimize Data from IoT Connected Devices
The increasing IoT-linked devices are expected to boost the growth of the multi-cloud management market going forward. IoT-linked devices are nonstandard computing devices that connect wirelessly to a network and transmit data. Multi-cloud management is helpful for IoT-linked devices as it allows for better management of the vast amounts of data generated by these devices across multiple cloud platforms, and it also will enable organizations to avoid being locked into a single cloud provider, which can limit their flexibility and increase costs. For instance, in November 2022, according to a report published by Ericsson, a Sweden-based telecommunication company, broadband IoT (4G/5G), which connects most cellular IoT devices, reached 1.3 billion connections in 2022. Nearly 60% of cellular IoT connections are anticipated to be broadband IoT connections by the end of 2028, with 4G connecting the bulk. Therefore, the increasing IoT IoT-linked devices is driving the growth of the multi-cloud management market.

Competitive Landscape -
Major companies operating in the multi-cloud management market report are Microsoft Corporation, Dell Technologies Inc., Amazon Web Services Inc., International Business Machines Corp., Cisco Systems Inc., Oracle Corporation, Flexera Software LLC, Infosys Limited, Lumen Technologies Inc., VMware Inc., NetApp Inc., Citrix Systems Inc., Rackspace Technology Inc., CloudBolt Software Inc., BMC Software Inc., Snow Software AB, DivvyCloud Corporation, Trianz Holdings Pvt. Ltd., Virtana Corp., AppDirect Inc., Jamcracker Inc., Cloudenablers Inc., Stacklet Inc., RightScale Inc., CloudCheckr Inc., Turbonomic Inc., EnvZero Inc., Upbound, DoubleHorn LLC, Embotics Corporation

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