The global multi cloud management market is projected to witness a rapid growth during the forecast period owing to the emergence of cloud-based technologies and increasing adoption of the internet of things. Moreover, increasing demand for the application of multi-cloud management across various industry verticals such as BFSI, healthcare, manufacturing, retail and IT & telecommunications is driving the growth of the global market.
The global Multi Cloud Management Market by geography is segmented into North America, Europe, Asia Pacific, and Rest of the World. The North American market is expected to witness a significant growth and hold the largest share of the global market during the forecast period. The U.S and Canada are anticipated to drive the growth of multi-cloud management market in the North American region owing to the presence of a large number of established key players such as BMC Software, CenturyLink, VMware and DoubleHorn among others. Due to the sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. Additionally, North America also has a well-established infrastructure, which allows a higher penetration of devices and ultimately provides better connectivity. The growth in the market is also attributed to increasing focus on business organizations towards improving the operational efficiency of business processes and growing adoption of multi-cloud management by small and medium organizations. In the global multi-cloud management market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the rise in IT technology and increasing adoption of cloud-based applications across countries including China, Japan, and India in the region.
The global multi-cloud management market is projected to reach USD 7 billion at a CAGR of over 31% by the end of the forecast period 2017-2023.
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Multi Cloud Management Market Segmentation
The global multi-cloud management market is segmented on the basis of platform, service type, deployment, application, and vertical. Based on the deployment, the market is segmented into the public cloud, private cloud, and hybrid cloud.
Some of the prominent players in the global multi cloud management market: BMC Software (U.S.), CenturyLink (U.S.), Accenture (Ireland), VMware (U.S.), DoubleHorn (U.S.), RightScale (U.S.), CliQr (U.S.), Cloudyn (Israel), Dell Technologies (U.S.), Jamcracker (U.S.), IBM (U.S.), Citrix (U.S.), Turbonomic (U.S.), Micro Focus (Berkshire), Red Hat (U.S.), SixSq (Switzerland), Embotics (U.S.), Cloudmore (Sweden), Flexiant (UK), Navisite (U.S.), Scalr (U.S.), Rackspace (U.S.), CloudBolt (U.S.), CloudHelm (U.S.), and CloudEnablers (U.S.) among others.
Market Research Analysis
The north American market is estimated to account for the largest share of the global market, whereas European market is projected to grow at the fastest rate during the forecast period. The North American market is witnessing a rapid growth due to technological advancements and increasing demand for CRM solutions across different industry verticals in this region. The U.S. holds the majority of market share both in terms of revenue as well as due to the increasing need for efficient computing framework and a considerable shift of work towards deployment of cloud-based solutions in order to run critical business functions.
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