-- Multi Cloud Management Market
Multi-cloud management refers to a set of tools that are used to organize, integrate, manage, and control more than one cloud services that are provided by different organizations. Moreover, these services are offered for infrastructure management, policy management, resource management, lifecycle management, access control management, identity and access management, metering, and billing, among other applications.
As per the report launched by QYResearch Group, the global multi-cloud management market is set to achieve an impressive CAGR over the forecast period. The report has also discussed some factors that are contributing to the ascension of the market. Uncertainty regarding reliability on a single cloud platform and a growing inclination towards price-sensitive cloud deployments are expected to be primary drivers of the market. Further, a growing need to avoid vendor lock-in and rise in the need of policy compliance from regulatory bodies for data sovereignty are also fueling the adoption of multi-cloud management platforms.
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Moreover, an increasing need for agility and automation has encouraged organizations to adopt multiple cloud platforms, hence, requiring multi-cloud management services. An upward trajectory of the market is also supported by the burgeoning need for an effective governing process in enterprises such as auto-provisioning and deployment. However, the inherent complexity of such different technologies, different interfaces, and different services provided by such technologies are restricting the growth of the multi-cloud management market during the conjecture period. Additionally, lack of standardization of terminology and methodologies of different cloud vendors is also impacting market growth negatively.
Key Players
Some vendors in the multi-cloud management market that catch the eye include Rightscale, Dell Technologies, Doublehorn, Jamcracker, VMware, Neverfail, Rackspace Hosting, Ecmanaged SL, Cliqr Technologies, Accenture PLC, and Key Innovators.
Market Segmentation
The market for multi-cloud management solutions is segmented on the basis of type and application. Based on type, the market for multi-cloud management has been segmented into internal brokerage enablement multi-cloud management and external brokerage enablement multi-cloud management. Based on application, the multi-cloud management market is segmented into public use and private use.
Detailed Regional Analysis
The global multi-cloud management market is studied for the regional segments of North America, Asia Pacific, South America, Europe, and the Middle East & Africa. Asia Pacific’s market for multi-cloud management platforms garnered the highest revenue at the beginning of the forecast period. The regional market is also expected to retain its foremost position in the market during the conjecture period. A large population residing in various countries within the region, coupled with drastically surging internet and cloud services’ penetration are two of the primary factors attributable to the ascension of the regional market.
Moreover, highly active youth population on social networks and other online platforms of the internet, along with changes in customer demographics is observed to fuel market growth for multi-cloud management in the Middle East & Africa. The regional market is also expected to upscale at the highest CAGR owing to internet penetration and untapped potential which has created lucrative growth opportunities for various market players.
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