Multi-cloud Management Market: Overview
The multi-cloud management market is predicted to rise at an exponential rate over the 2020 -2030 forecast period. The growth of the multi-cloud management market is influenced by the increasing adoption of multi-cloud services from a number of industry verticals including BFSI, retail, government, hospitality, and consumer goods. Cloud services offer several advantages such as faster deployment, flexibility, minimized operational cost, and can be scaled up in comparison to traditional on-premise IT solutions.
Besides this, the need for improved policy for the governance of cloud infrastructure and leaning for automation and agility is another significant factor fuelling the multi-cloud management market.
At its basic, a multi-cloud management model comprises a cloud platform that enables enterprises to transfer their workloads on multiple clouds including Infrastructure as a Service, Software as a Service, and Platform as a Service depending upon what is appropriate for the information.
Key parameters based on which the multi-cloud management market is divided in this report are deployment model, organization size, application, end-use, and region.
The report provides an exhaustive analysis of the multi-cloud management market for the 2020 – 2030 forecast period. Analysts employed a multi-pronged approach to understand and analyze the interplay of various indicators that influence the multi-cloud management market. Demand drivers, challenges, opportunities, regional landscape, and competitive scenario are some key aspects that were studied at length to present a well-founded analysis of the multi-cloud management market for the 2020 – 2030 forecast period.
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Multi-cloud Management Market: Competitive Landscape
The multi-cloud management market is highly competitive with the presence of several global and regional players. Mergers and acquisitions and collaborations are some key growth strategies of keen players in the multi-cloud management market. For example, in November 2019, Red Hat Inc. acquired a startup called NooBaa. The latter specialized in managing data storage services across hybrid and multi cloud environments. This acquisition helped Red Hat expand its hybrid cloud portfolio.
Prominent players operating in the multi-cloud management market include Accenture, Centurylink, Cisco Systems Inc., Cloudyn, DoubleHorn, Jamcracker Inc., Flexera, Turbonomic Inc., BMC Software Inc., Citrix Systems Inc., Cloudmore, Dell Inc., IBM Corporation, RightScale, SixSq Sarl, and VMware Inc.
Multi-cloud Management Market: Key Trends
Vast scope of growth of multi-cloud services is a key factor spelling growth in the multi-cloud management market. The multi-cloud management model is presently in a nascent stage, with only few enterprise level deployments. Counting on advantages, the platform eliminates challenges such as vendor lock-in, latency, higher cost, instead provides enhanced security and compliance for cloud-based models, thereby emerging as a key trend in the field of cloud services.
Increasing inclination of small and medium enterprises for adopting multi-cloud services is influencing the growth of multi-cloud management market. Small and medium size enterprises are moving their applications on cloud-based platforms to significantly reduce the dependency on a single factor. These pursuits are favorable to the growth of multi-cloud management market.
On the flip side, applications that are developed for multi-cloud platform are incompatible with cloud services that use different management interfaces and APIs.
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Multi-cloud Management Market: Regional Assessment
North America is the frontrunner among other key regions in the multi-cloud management market. Factors such as early adoption of technology, and inclination of organizations for the adoption of cost-effective cloud services spurs growth in the multi-cloud management market in the region.
Asia Pacific is predicted to emerge as a key region in the multi-cloud management market. This is mainly because of high internet penetration, rising popularity of social media platforms, and other online platforms.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.