Cloud Management Platform Market Driven by Growing Use of Cloud Architecture for Data Storage | Cloud Management Platform Market Size, Share, Trends and Challenges

Cloud Management Platform Market Driven by Growing Use of Cloud Architecture for Data Storage | Cloud Management Platform Market Size, Share, Trends and Challenges

“Cloud Management Platform Market”
Cloud Management Platform Market Research Report: by Component (Solution and Services), by Solution (Automation and Orchestration, Governance and Compliance, Performance Monitoring, Security Solution, Cost Management), Services (Professional Services, Managed Services), by Industry Vertical (BFSI, IT & telecom) and Region (North America, Europe, Asia-Pacific, Middle East and Africa South America) – Forecast till 2024

Cloud Management Platform Market Research Report- Forecast till 2024

Market Highlights

The global cloud management platform market is expected to exhibit a strong 18.4% CAGR over the forecast period from 2019 to 2024, according to the latest research report from Market Research Future (MRFR). The global cloud management platform market was valued at USD 8.1 billion in 2018 and is expected to rise to a valuation of more than USD 26.7 billion by 2024, according to the report. The report presents a detailed evaluation of the global cloud management platform market, including a detailed overview of the historical growth trajectory of the market, a comprehensive overview of the present condition in the market, and accurate, studied forecasts as to the likely growth trajectory of the market over the forecast period. Major factors and trends observed in the global cloud management platform market are examined in detail in the report. The competitive landscape of the global cloud management platform market is also examined in the report. Major players in the global cloud management platform market are profiled in the report. The impact of the COVID-19 pandemic on the global cloud management platform market is also examined in the report.

Cloud management platforms comprise a set of integrated software tools that enable enterprises to monitor and control cloud computing resources. The growing usage of cloud resources by major enterprises around the world has been a major driver for the global cloud management platform market. Cloud resources have been used in increasing amounts by enterprises across industrial sectors due to the increasing viability and utility of cloud resources. Cloud resources allow enterprises to store and use data in a secure manner, as well as increasing the overall storage capacity. The increasing generation of digital data in enterprises around the world has led to a growing usage of cloud technology around the world. This has been a major driver for the cloud management platform market over the last few years. The increasing security of cloud protocols has also been a major driver for cloud technology over the last few years, as data security has emerged as a major concern in recent years.

Increasing usage of cloud technology for data storage and manipulation in the BFSI and government sectors is likely to be a major driver for the global cloud management platform market over the forecast period. Increasing demand for online operations in these sectors, among others, has led to a growing consumption of cloud resources. Emerging regions have emerged as a major player in the growing consumption of cloud resources due to the growing digitalization across sectors in regions such as Asia Pacific. This is likely to remain a major driver for the global cloud management platform market over the forecast period. The increasing demand for secure online transactions is likely to be a major driver for the global cloud management platform market over the forecast period.

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Segmentation:

The global cloud management platform market is segmented on the basis of component, deployment mode, organization size, vertical, and region.

By component, the global cloud management platform market is segmented into solutions and services.

By deployment, the global cloud management platform market is segmented into private cloud, public cloud, and hybrid cloud.

By organization size, the market is segmented into SMEs and large enterprises.

By end use vertical, the global cloud management platform market is segmented into IT and telecom, BFSI, government and defense, healthcare, energy and utilities, retail and ecommerce, and others.

Regional Analysis:

North America is the major regional market for cloud management platform technology and is likely to retain its dominance over the forecast period. Many of the leading players in the cloud management platform market are located in the U.S., which is likely to remain the leading regional market for cloud management platform technology over the forecast period.

Key Players

Leading players in the global cloud management platform market include Puppet, Amazon Web Services (AWS), Dynatrace, Splunk Inc., Turbonomic Inc., RackWare, DivvyCloud, ServiceNow, Scalr Inc., Morpheus Data LLC, HyperGrid, RightScale Inc., CloudBolt Software Inc., Embotics Corporation, BMC Software Inc., HP Enterprise Development LP, Citrix Systems Inc., VMware Inc. (Dell Technologies), and Cisco Systems Inc. Inorganic growth strategies such as collaborations and partnerships have been highly popular in the cloud management platform market and are likely to remain a key factor in the growth of the cloud management platform market over the forecast period.

In April 2019, RackWare, Inc. launched a hybrid cloud platform that integrates the entire cloud implementation lifecycle, starting from cloud migration process to disaster recovery and backup, to hybrid multi-cloud management.

In February 2019, Trend Forward Capital, the investment arm of Trend Micro, partnered with Turbonomic, Inc. to expand its business unit in Asia Pacific.

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Cloud Management Platform Market Research Report: by Component (Solution and Services), by Solution (Automation and Orchestration, Governance and Compliance, Performance Monitoring, Security Solution, Cost Management), Services (Professional Services, Managed Services), Deployment Mode (Hybrid Cloud, Public Cloud, Private Cloud), Organization Size (SMEs and Large Enterprises), by Industry Vertical (BFSI, IT & telecom)  and Region (North America, Europe, Asia-Pacific, Middle East and Africa South America) – Forecast till 2024

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