Multi-Cloud Management Market Size, Share | Forecast - 2028

The multi-cloud management market is projected to reach US$ 7,769.40 million in 2022; it is estimated to grow at a CAGR of 27.6% from 2022 to 2028.

Multi-cloud management includes tools and procedures that allow businesses to monitor and safeguard workloads, as well as applications (apps), across multiple public and private clouds. Multi-cloud management solutions and services enable IT teams to manage clouds from a single interface and support multiple cloud providers (such as Azure and AWS) and cutting-edge tools such as Kubernetes. Containers and Kubernetes play important roles in enabling multi-cloud management. Containers make it simpler for developers to create apps that can be deployed on any cloud, as they combine apps with their dependencies and necessary services in a lightweight package. Kubernetes enables efficient management, deployment, and automation of those containers. The lessened reliance on a single cloud vendor allows businesses to maximize cloud utilization and optimize expenses and take advantage of the relative strengths of each cloud provider.

The multi-cloud management multi-cloud management market in North America is segmented into Canada, the US, and Mexico. The growing availability of high-speed connectivity, increase in cloud adoption, increase in the growth of IoT, rapid adoption of work from home policy and emerging technology to help IoT adoption are the crucial factors assisting the multi-cloud management market growth over the projected period. Moreover, industrial 4.0 is on rise in North America, several industries are benefiting from the uplift in technology and automation. The growing adoption of Internet of things across various verticals in US, Canada and Mexico have found to be game changing in operations as well as growing revenue through new forms of insights and data driven decisions. Furthermore, cloud computing is a major trend across all organizations in North America. All these factors contribute to the multi-cloud management market growth in North America

Strategic Insights

Impact of COVID-19 Pandemic on APAC multi-cloud management Market 

The COVID-19 crisis drastically affected two huge economies in APAC, namely, India and China. Nevertheless, the demand for multi-cloud management solutions increased with a surge in the use of IoT, growing need for addressing a drastic rise in data demands, spike in the burden on cloud infrastructure, and digitization efforts made by industries to continue their operations. According to Tech Wire Asia, cloud adoption in Asia Pacific surged in 2020 as 93% of companies are embracing a multi-cloud strategy. In late 2020, the Government of New Zealand started building their Cloud Centre of Excellence initiative to accelerate the uptake of cloud and execute well-designed and governed cloud migrations across public sector. In Asia Pacific, governments are at different stages of their cloud journey. Nonetheless, the cloud adoption in the region gained traction during the pandemic, as different sectors in the region accelerated the movement of their workloads to the cloud. Moreover, amid the COVID-19 crisis, people were reintroduced to the fact that access to online retail stores is much easier than access to physical stores. The healthcare sector also moved toward telemedicine, wherein doctors are received video call appointments, followed online examination, prescriptions, and treatment of patients suffering from non-critical health conditions. These changes in social behaviors created a greater need for multi-cloud adoption among enterprises, which favored the adoption of multi cloud management solutions and contributed to the multi-cloud management market growth in Asia-pacific in the pandemic period.

Lucrative Regions for Multi-Cloud Management Market

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Market Insights – Multi-Cloud Management Market

Surge in Need to Avoid Vendor Lock-In is Expected to Drive Multi-Cloud Management Market Growth in Coming Years

Avoiding vendor lock-in is the most frequently mentioned among the many benefits of a multi-cloud strategy. As per a survey conducted by Stratoscale, more than 80% of businesses expressed moderate anxiety about being tied to a single public cloud platform. However, adopting multi-cloud management can help avoid such instances, which are among the basic needs of some organizations. A multi cloud approach reduces dependence on any single vendor, enables vendor diversification, and prevents lock-in. This is important for enterprises to ensure that they can adopt the most relevant platforms for their business objectives and move among cloud stacks as needed. Due to the multi-cloud approach, end customers can now switch between several providers, which lessens their reliance on a single supplier. Service level agreements (SLAs) for multi-cloud management services provide data deployment flexibility and permit end users to migrate their workloads to different clouds as needed. End users can also utilize multi-cloud management systems to manage complicated applications across several heterogeneous cloud platforms to benefit from the highest level of independence. Because of the abovementioned factors, multi-cloud management removes vendor lock-in and permits easy switching between vendors. Thus, the elimination of vendor lock-in ability by multi-cloud management contributes to the multi-cloud management market growth.

Enterprise Size-Based Market Insights

Based on deployment mode, the multi-cloud management market is bifurcated into public cloud and private cloud. The public cloud segment accounted for a larger share multi-cloud management market in 2021. the technology sector is witnessing a significant growth in cloud-based solutions as they are time and cost efficient. Owing to these advantages public-cloud have attracted a significant percentage of end users. Moreover, public cloud is the most common type of cloud computing deployment as with public cloud, there is no need to purchase hardware or software and you pay only for the service you use. This factor is positively influencing the adoption of multi-cloud management majorly for public clouds among various industries and is expected to dominate the multi-cloud management market during the forecast period.

Players operating in the multi-cloud management market mainly adopt inorganic growth strategies to stay competitive in the multi-cloud management market ecosystem.

• In 2022. BMC announced that the company has entered in a multi-year agreement to provide its BMC Helix service and operations management solutions to Google Cloud.
• In 2022, Snow Software and Anodot announced their partnership to help the organizations to solve the challenge to manage the rapidly growing and increasingly complex cost of cloud.

Company Profiled in the Multi-Cloud Management Market

• BMC Software, Inc.
• Cisco Systems, Inc.
• Flexera
• International Business Machines Corporation
• Micro Focus International plc
• Zerto Ltd.
• VMware, Inc.
• Snow Software, Inc.
• UnityOneCloud
• Dynatrace, Inc.