Global Cloud Systems Management Software Market: Overview
The global market for cloud systems management software is expected to register a notable CAGR over the period between 2016 and 2024. The market will benefit massively from the vast rise in adoption of a variety of cloud-based services across a number of industry verticals and the advantages of cloud systems management software in terms of enabling the easy integration of heterogeneous and complex cloud settings. The rising adoption of hybrid cloud and the pressing need to avoid customer or proprietary lock-in are also act as growth drivers for the market.
A large number of small and large enterprises are focused on the introduction of their own cloud frameworks so as to securely cater to their internal computing and data storage and processing requirements. With the help of sophisticated cloud systems management software products, enterprises could improve their quality and speed of delivery, bring down the cost involved in undertaking manual tasks, and improve business performance and accuracy. Moreover, the vast enhancements seen in cloud-based systems in the past few years have led to a massive rise in the number of customized services and applications, requiring effective management tools for positive outcomes.
This report provides a vast overview of the global cloud systems management software market with respect to its present growth dynamics, future growth prospects, key trends, opportunities, factors driving and/or restraining the growth prospects of the market, and an overview of the competitive landscape of the market. The report also allows detailed insights into the regulatory scenario associated with the market and its expected impact on the overall development of the market. A complete account of the growth prospects for the market in key regions is also provided.
Cloud system management software is a management framework that controls cloud operations and automation as per the desired orientation. The major applications offered by the cloud system management software includes cloud automation, configuration management, workload scheduling, cloud performance, and event and problem management. It also provides flexibility to manage, monitor, and enhance the resource management for organizations reliant on business requirements. Cloud systems management software services are increasingly adopted by the enterprises, mainly due to the benefits they offer, such as better staff efficiency, easy deployment, higher responsiveness to end-users, optimum resource utilization, reduced cost of maintenance, and improved quality.
At present, various enterprises are developing their separate cloud framework to cater to their internal storage and computing requirements. The cloud system management software solutions are primarily used by the enterprises for operation management. They also offer enhanced speed and quality of delivery, improved accuracy, reduction in time-consuming manual tasks, and increased business performance. In addition, improvements in network structure in cloud-based systems have enabled the expansion of customized applications and services. Furthermore, these services include consulting, implementation, and support & maintenance.
The global cloud systems management software market is experiencing growth owing to factors such as growing adoption of hybrid cloud, easy amalgamation of heterogeneous and complex cloud environments, and a growing requirement to avoid vendor lock-in. Vendor lock-in is a situation in which high switching costs are required for the transition of customers’ products and services to other vendors. Cloud systems management software have the capability to minimize the risk of disruption, enhance internal business process, increase operational efficiency, and gain competitive advantage.
The adoption of cloud systems management software is mainly driven by factors such as rising demand for automation and the reduction of managerial overheads. However, enterprises face several difficulties while implementing cloud systems management software, such as increasing threats of security breach in cloud systems and complications involved in application portability. These are the factors anticipated to restrain the growth of the cloud systems management software market. Furthermore, the major challenges for the global cloud systems management software market includes a lack of awareness and technical expertise among enterprises and difficulties in restructuring the system.
North America is anticipated to be the leading cloud systems management software market and it is anticipated to dominate the market during forecast period. This is primarily due to the rapid adoption of novel and developing technologies, huge investments in R&D, the availability of proficient technical knowledge, and the existence of a large number of players in the region. However, Asia Pacific is also anticipated to deliver potential growth opportunities to stir the cloud systems management software market in the near term. The increasing spending on IT infrastructure, growing cloud-based applications, growing demand for automation of processes, and rising technology saturation in numerous industrial sectors in the region are expected to drive the Asia Pacific cloud system management software market.
The global cloud systems management software market is segmented by solution, service, and end-user. By solution, the cloud systems management software market is segmented into change & configuration management, operation management, performance management, problem management, workload scheduling, automation management, and incident management. On the basis of services, the market is categorized into professional services, and managed services. Based on end-user segmentation, the cloud systems management market is segmented into banking, financial services, and insurance (BFSI), education, consumer goods and retail, government and public sector, manufacturing, health care and life sciences, telecommunication and ITES, media and entertainment, and others.
The market for cloud systems management software is highly fragmented with the presence of players such as HP Development Company, L.P., IBM Corporation, BMC Software, Inc., CA Technologies, Cisco Systems, Inc., Microsoft Corporation, VMware, Inc., Red Hat, Inc., and Oracle Corporation.