The Multi-Cloud Management Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Multi-Cloud Management Global Market Report 2024, The multi-cloud management market size has grown exponentially in recent years. It will grow from $9.66 billion in 2023 to $12.39 billion in 2024 at a compound annual growth rate (CAGR) of 28.2%. The growth in the historic period can be attributed to growing cloud adoption, complexity of multi-cloud environments, security concerns, cost optimization needs, operational efficiency demands
The multi-cloud management market size is expected to see exponential growth in the next few years. It will grow to $32.1 billion in 2028 at a compound annual growth rate (CAGR) of 26.9%. The growth in the forecast period can be attributed to advanced security requirements, focus on cost governance, increased complexity of multi-cloud environments, hybrid cloud expansion, regulatory compliance challenges. Major trends in the forecast period include rapid technological advancements, increased adoption of multi-cloud strategies, rising importance of interoperability, focus on cost optimization, automation for efficient management.
The increasing IoT-linked devices are expected to boost the growth of the multi-cloud management market going forward. IoT-linked devices are nonstandard computing devices that connect wirelessly to a network and transmit data. Multi-cloud management is helpful for IoT-linked devices as it allows for better management of the vast amounts of data generated by these devices across multiple cloud platforms, and it also will enable organizations to avoid being locked into a single cloud provider, which can limit their flexibility and increase costs. For instance, in November 2022, according to a report published by Ericsson, a Sweden-based telecommunication company, broadband IoT (4G/5G), which connects most cellular IoT devices, reached 1.3 billion connections in 2022. Nearly 60% of cellular IoT connections are anticipated to be broadband IoT connections by the end of 2028, with 4G connecting the bulk. Therefore, the increasing IoT IoT-linked devices is driving the growth of the multi-cloud management market.
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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
Major companies operating in the multi-cloud management market are developing innovative products, such as multi-hybrid cloud, to help enterprises with digital transformation. A multi-hybrid cloud is a computing environment that integrates and manages multiple hybrid cloud deployments. For instance, in April 2023, Cognizant, a US-based information technology company, launched a multi-hybrid cloud and edge management platform called Cognizant Skygrade. The platform is designed to help enterprises transition to modern cloud-native architectures and streamline their cloud management operations. The platform integrates and operates seamlessly across multi-cloud environments, addressing the full lifecycle of cloud transformation and fusing Cognizant’s AIOps, operations, and infrastructure modernization expertise into a comprehensive solution for digital transformation leaders.
The multi-cloud management market report table of contents includes:
1. Executive Summary
2. Multi-Cloud Management Market Characteristics
3. Multi-Cloud Management Market Trends And Strategies
4. Multi-Cloud Management Market – Macro Economic Scenario
5. Global Multi-Cloud Management Market Size and Growth
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26. South America Multi-Cloud Management Market
27. Brazil Multi-Cloud Management Market
28. Middle East Multi-Cloud Management Market
29. Africa Multi-Cloud Management Market
30. Multi-Cloud Management Market Competitive Landscape And Company Profiles
Top Major Players:
- Microsoft Corporation
- Dell Technologies Inc
- Amazon Web Services Inc
- International Business Machines Corp
- Cisco Systems Inc
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