Rising Adoption of Multi-Cloud Management To Harness And Optimize Data From IoT Connected Devices: An Emerging Driver Transforming The Multi-Cloud Management Market Landscape

The Multi-Cloud Management Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Multi-Cloud Management Market?
In recent times, the size of the multi-cloud management market has experienced exponential growth. The market value is projected to increase from $12.39 billion in 2024 to $15.86 billion in 2025, boasting a compound annual growth rate (CAGR) of 28.1%. The growth observed during the historic period is largely due to factors such as the increase in cloud adoption, complexity of multi-cloud environments, security issues, the necessity for cost optimization, and requirements for operational efficiency.

The market size for multi-cloud management is projected to experience significant growth in the near future, expanding to $40.45 billion by 2029 with a compound annual growth rate (CAGR) of 26.4%. Factors contributing to growth during the forecast period include enhanced security needs, emphasis on cost governance, greater complexity in multi-cloud settings, an expansion of the hybrid cloud, and hurdles in regulatory compliance. The anticipated trends for the forecast period encompass rapid advancements in technology, an uptick in the adoption of multi-cloud strategies, the increasing significance of interoperability, attention on cost-efficiency, and the application of automation for effective management.

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What Are the Different Multi-Cloud Management Market Segments?
The multi-cloud management market covered in this report is segmented -

1) By Solution: Security And Risk Management, Training And Consulting, Reporting And Analytics, Cloud Automation, Managed Services, Other Solutions
2) By Deployment Model: Public Cloud, Hybrid Cloud, Private Cloud
3) By Enterprise Size: Small And Medium Enterprise, Large Enterprise
4) By End-Use: BFSI, IT And Telecom, Consumer Goods and Retail, Manufacturing, Healthcare, Media and Entertainment, Government, Other End-Uses

Subsegments:
1) By Security And Risk Management: Cloud Security Solutions, Identity And Access Management (IAM), Threat Detection And Mitigation, Compliance And Governance Tools
2) By Training And Consulting: Cloud Strategy Consulting, Cloud Migration Consulting, Multi-Cloud Architecture Training, Managed Service Provider (MSP) Consulting
3) By Reporting And Analytics: Cloud Performance Monitoring, Cost Management And Optimization, Cloud Usage Reporting, Business Intelligence And Analytics For Multi-Cloud
4) By Cloud Automation: Cloud Provisioning And Orchestration, Infrastructure As Code (Iac) Solutions, Cloud Service Automation Tools, Workflow Automation
5) By Managed Services: Cloud Operations Management, Multi-Cloud Monitoring And Support, Disaster Recovery And Backup Services, Service Level Agreement (SLA) Management
6) By Other Solutions: Multi-Cloud Data Management, Cloud Integration Tools, Multi-Cloud Networking Solutions, Cloud Cost Optimization

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What Are the Primary Drivers Shaping the Multi-Cloud Management Market?
An expected uptick in IoT-connected devices is forecasted to contribute to the expansion of the multi-cloud management market. These IoT-linked gadgets are nonstandard computing equipment that wirelessly pairs with a network to share data. Multi-cloud management proves beneficial for such IoT-linked devices as it facilitates superior handling of the considerable volume of data they produce across several cloud networks. It also prevents businesses from being restricted to a single cloud provider, enhancing adaptability and reducing expenses. To illustrate, a report published by Ericsson, a telecommunications firm from Sweden, revealed that in November 2022, broadband IoT (4G/5G) connections, which serve most cellular IoT devices, reached 1.3 billion connections in the same year. By the end of 2028, it is projected that roughly 60% of cellular IoT connections will be broadband IoT connections, with 4G being the predominant connective force. Hence, the rising number of IoT-connected devices is fueling the expansion of the multi-cloud management market. The rise of digitization is also poised to fuel the growth of the multi-cloud management market. The process of digitization involves transitioning information from analog, non-digitized media such as physical papers, photographs, and sound recordings, into storable digital data. Multi-cloud management is used in digitization to amplify resource distribution, fortify data duplication, augment scalability, and affirm high availability across several cloud platforms. This leads to boosted operational effectiveness and decreased likelihood of downtime or data loss. For instance, according to the Augusta Free Press, a US news agency, in December 2022 the worldwide expenditure on digital transformation amounted to approximately $1.85 trillion, marking a 16% rise from the previous year. Consequently, the surge in digitization is stimulating the growth of the multi-cloud management market.

Which Companies Are Leading in the Multi-Cloud Management Market?
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

What Are the Major Trends Shaping the Multi-Cloud Management Market?
Major corporations in the multi-cloud management market are introducing ground-breaking solutions such as multi-hybrid cloud, to assist businesses in undergoing a digital transformation. A multi-hybrid cloud is a computational setting that combines and controls numerous hybrid cloud configurations. For example, in April 2023, Cognizant, an Information Technology firm based in the US, introduced a multi-hybrid cloud and edge management platform, known as Cognizant Skygrade. This platform is engineered to facilitate businesses in shifting to contemporary cloud-native architectures and simplifying their cloud management procedures. The platform integrates and functions smoothly across multiple cloud environments, catering to the entire lifecycle of cloud evolution and integrating Cognizant's AIOps, operations, and infrastructure modernization proficiency into a holistic solution for leaders in digital transformation.

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What Are the Top Revenue-Generating Geographies in the Multi-Cloud Management Market?
North America was the largest region in the multi-cloud management market in 2024. The regions covered in the multi-cloud management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Multi-Cloud Management Market?
2. What is the CAGR expected in the Multi-Cloud Management Market?
3. What Are the Key Innovations Transforming the Multi-Cloud Management Industry?
4. Which Region Is Leading the Multi-Cloud Management Market?

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