The multi-cloud management market is expected to be driven by factors, such as the need for business agility, faster deployment and scalability, the increasing awareness about cloud among enterprises globally, and the reduced costs of ownership.
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The detail information from multi-cloud management market ecosystem comprises of service providers, such BMC Software (US), CenturyLink (US), Accenture (Ireland), VMware (US), DoubleHorn (US), RightScale (US), CliQr (US), Cloudyn (Israel), Dell Technologies (US), Jamcracker (US), IBM (US), and Citrix (US). The other stakeholders of the multi-cloud management market include systems integrators, application designers and development service providers, and network service providers.
Multi-Cloud Management Market imports on global multi-cloud management market reports claims industry size is expected to grow from $1,169.5 million in 2017 to $4,492.7 million by 2022, at a Compound Annual Growth Rate (CAGR) of 30.9% during the forecast period. North America is expected to hold the largest market during the forecast period, as organizations are shifting toward cloud-based solutions and services, with the increasing adoption of digital business strategies.
Furthermore, the organizations have invested hugely on advanced technologies to gain a competitive advantage and improve the business operations. APAC is said to be the fastest-growing region in the global multi-cloud management market.
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The key reasons for the high growth rate in APAC include the positive economic outlook in the region, increased spending on Information Technology (IT) infrastructure, and the tendency of multi-cloud management solutions to drive customer experience and improve the operational issues.
The break-up profiles of primary participants are given below:
- By company: Tier 1 – 43%, Tier 2 – 35%, and Tier 3 – 22%
- By designation: C-level – 60%, Director level – 25%, and Others – 15%
- By region: North America – 44%, Europe – 25%, APAC – 21%, and RoW –10%
The external brokerage enablement platform usually provides a multi-tenant cloud delivery and management platform to the Telecom Service Providers (TSPs), system integrators, Independent Software Vendors (ISVs), distributors, and cloud providers. The platform works as an interface between cloud brokers for providing seamless aggregation and customization services to the end-users.
The external brokerage enablement platform is expected to grow in the coming years, due to the expanding market space for cloud brokers across the world.
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Some major following points on Multi-Cloud Management Market
- To describe and forecast the global multi-cloud management market on the basis of platforms, applications, service types, deployment models, verticals, and regions
- To forecast the market size of the 5 main regional segments, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
- To analyze the subsegments with respect to individual growth trends, prospects, and contribution to the total market
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
The cloud lifecycle management application accelerates innovation through automated resource provisioning, governance, and management of available cloud services. Lifecycle management helps enterprises in managing the lifecycle of cloud-ready products to offer state-of-the-art Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS) service, and the reduced Time-to-Market (TTM) solutions.
The major factors that are believed to be driving the growth of the overall multi-cloud management market are innovation, efficiency, agility, and security.