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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Multi-Cloud Management 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.
Multi-Cloud Management 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.
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
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 8.29 billion.
The market is projected to grow at a CAGR of 27.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 75.55 billion by 2032.
The market is being driven by the rising adoption of cloud technologies and the increasing focus on leveraging automation in various end-use sectors.
The major trends driving the market growth include the increasing adoption of hybrid cloud strategies and the development of centralisation technologies and open-source container orchestration systems.
The major regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major industry verticals for the product include 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 key players in the market include VMware, Inc., IBM Corporation, Microsoft Corporation, BMC Software, Inc, Cisco Systems, Inc., Dell Technologies Inc., CloudBolt Software, Inc., Citrix Systems, Inc., Jamcracker Inc., and Flexera Software LLC, among others.
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