Overview and Scope
The cloud management platform refers to integrated software management tools used to implement and monitor the public, private, and hybrid cloud environments. It combines a set of features or modules which enable the management to work on different virtual cloud environments. The platform’s purpose is to assist IT teams in the security and optimization of cloud infrastructure, including the applications and data. It aims to improve the management of cloud settings, cost and performance optimization, and security enhancement.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market 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.
Key Industry 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
The cloud management platform market report table of contents includes:
1. Executive Summary
2. Cloud Management Platform Market Characteristics
3. Cloud Management Platform Market Trends And Strategies
4. Cloud Management Platform Market – Macro Economic Scenario
5. Global Cloud Management Platform Market Size and Growth
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31. Cloud Management Platform Market Other Major And Innovative Companies
32. Global Cloud Management Platform Market Competitive Benchmarking
33. Global Cloud Management Platform Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cloud Management Platform Market
35. Cloud Management Platform Market Future Outlook and Potential Analysis
36.Appendix
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