Global Multi-Cloud Management Market Report and Forecast 2024-2032

Global Multi-Cloud Management Market Outlook

The global multi-cloud management market size reached nearly USD 8.29 billion in 2023. The market is projected to grow at a CAGR of 27.9% between 2024 and 2032, reaching a value of around USD 75.55 billion by 2032.

Key Trends in the Market

Multi-cloud management encompasses a set of tools and procedures that are utilised to efficiently oversee and control multiple cloud computing environments, typically a combination of public, private, and hybrid clouds. It involves the coordination, integration, and optimisation of resources, applications, data, and services across diverse cloud platforms to meet organisational requirements and objectives.

• One of the major catalysts behind the multi-cloud management market growth is the growing demand to manage multiple cloud services through a single centralised architecture. This approach enables enterprises to seamlessly deploy and administer sophisticated applications across diverse service providers. Hence, the demand for multi-cloud management services is fuelled by the escalating adoption of cloud services.

• The development of centralisation technologies and open-source container orchestration systems significantly propel the multi-cloud management market demand. Organisations can effectively handle and automate containerised workloads on a large scale with the utilisation of container orchestration tools. The implementation of these technologies can simplify multi-cloud management and enable effortless deployment and administration of applications across a wide range of cloud environments.

• Organisations are increasingly embracing hybrid and multi-cloud strategies, which represents a noteworthy multi-cloud management market trend. Hybrid clouds merge public and private cloud environments, empowering businesses to capitalise on the agility and versatility of public clouds while simultaneously retaining authority over sensitive data through private clouds.

Market Analysis

Based on platform, the market is bifurcated into internal brokerage enablement and external brokerage enablement. On the basis of service, the market segmentations include monitoring and access management, training and consulting, reporting and analytics, cloud automation, data security and risk management, migration and integration, and support and maintenance, among others.

The multi-cloud management market, based on the deployment model, is categorised into public cloud, private cloud, and hybrid cloud. Based on applications, the market segmentations include metering and billing, provisioning, lifecycle management, identity and policy management, compliance management, and infrastructure and resource management, among others.

The multi-cloud management market segmentation, on the basis of industry vertical, includes energy and utilities, telecommunication and IT-enabled services (ITES), travel and hospitality, BFSI, healthcare and life sciences, retail and consumer goods, government and public sector, and media and entertainment, among others. The major regional markets for multi-cloud management are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global multi-cloud management market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.

• VMware, Inc.

• IBM Corporation

• Microsoft Corporation

• BMC Software, Inc

• Cisco Systems, Inc.

• Dell Technologies Inc.

• CloudBolt Software, Inc.

• Citrix Systems, Inc.

• Jamcracker Inc.

• Flexera Software LLC

• Others

Market Share by Service

Cloud automation is likely to hold a significant portion of the multi-cloud management market share in the forecast period. Companies are increasingly turning to automation to manage their private, public, and hybrid cloud environments more effectively. Artificial intelligence (AI) and machine learning (ML) are expected to play a crucial role in decision-making for cloud automation, particularly in analysing extensive log data. AI and ML-based systems and solutions can analyse large volumes of logging data and identify meaningful patterns.

Market Share by Industry Vertical

As per the global multi-cloud management market analysis, the banking, financial services, and insurance (BFSI) sector stands out as a prominent adopter of cloud technologies due to the growing requirement to handle substantial data volumes and maintain an extensive operational network. Banking institutions implement cloud-based systems to improve operational efficiency and deliver prompt customer service. To mitigate risks, BFSI companies often prefer employing multi-cloud environments, allowing for a seamless transition to an alternate cloud provider in the event of a failure.

The multi-cloud management market demand is further expected to be aided by the growing cloud adoption in the healthcare sector amid rapid digitisation and the growing focus to reduce operational costs.

Competitive Landscape

VMware, Inc. is a renowned software company that focuses on virtualisation and cloud computing technologies. It was founded in 1998 and is headquartered in California, the United States. Its extensive product portfolio consists of a diverse range of solutions aimed at helping organisations effectively run, manage, connect, and secure applications across different cloud environments and devices.

IBM Corporation is a renowned technology company with a long-standing heritage and a dominant position in the IT sector. Founded in 1911 and based in New York, the United States, the company has grown to become a prominent provider of hardware, software, and services.

Microsoft Corporation, also known simply as Microsoft, is a multinational technology company with a significant global presence. Headquartered in Washington, the United States, Microsoft offers a diverse range of products and solutions tailored to meet the needs of various sectors.

Other multi-cloud management market players include BMC Software, Inc, Cisco Systems, Inc., Dell Technologies Inc., CloudBolt Software, Inc., Citrix Systems, Inc., Jamcracker Inc., and Flexera Software LLC, among others.

Key Highlights of the Report

Multi-Cloud Management Market Report Snapshots

Multi-Cloud Management Market Size

Multi-Cloud Management Market Share

Multi-Cloud Management Market Analysis

Multi-Cloud Management Companies