Cloud Management Platform Market Recent Development, Growth And Size, Share Analysis By 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Cloud Management Platform Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $37.58 billion In 2028 At A CAGR Of 18.9% :

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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Cloud Management Platform Market Major Segments
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

Key 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.

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Prominent Trend - Emerging Trends In Cloud Management Platforms

The use of a multi-cloud management platform is a key trend in the cloud management platform market. It is a set of services that work together to address the issues associated with multi-cloud deployments for simplified hybrid IT management. The multi-cloud management platform includes application identification and dependency mapping, migration planning, capacity optimization, cloud cost control, cloud security automation, increased performance and availability, and intelligent IT service management. These functionalities ease the workflow process and decrease the operational cost for the company. For instance, in October 2021, VMware, US-based, a cloud computing and virtualization software company, launched Cross-Cloud services. This offers a comprehensive solution for organizations seeking simplified multi-cloud management. With features such as flexible app platform support, standardized operations, data portability, and robust security measures, this launch addresses the complexities of cloud operations, reduces operational overhead, and streamlines multi-cloud management, contributing significantly to the advancement of the cloud management platform market.

Cloud Management Platform Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the cloud management platform market in 2023. The regions covered in the cloud management platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cloud Management Platform Market Report Structure
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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