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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
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Multi-Cloud Management Market: Strategic Insights
Market Size Value in US$ 7,769.40 Million in 2022 Market Size Value by US$ 33,481.70 Million in 2028 Growth rate CAGR of 27.6% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Multi-Cloud Management Market: Strategic Insights
| Market Size Value in | US$ 7,769.40 Million in 2022 |
| Market Size Value by | US$ 33,481.70 Million in 2028 |
| Growth rate | CAGR of 27.6% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Deployment, Application, Verticals, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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. are the leading companies in the multi-cloud management market.
Acceptance of cloud solutions as mainstream IT deployment option is one of the major trends in the multi-cloud management market.
North America dominated the multi-cloud management Market in 2021. 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 market growth over the projected period in North America.
Surge in need to avoid vendor lock-in augments the growth of the multi-cloud management market.
Increase in data generation and rise in Bring Your Own Device (BYOD) and Choose Your Own Device (CYOD) Trends are creating growth opportunity for the market players operating into the market.
The List of Companie -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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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