The global multi-cloud management market was estimated at US$ 6.5 Billion in 2021, and is expected to reach US$ 9 Billion in 2022. Furthermore, the market is predicted to increase at a CAGR of 23.6% from 2022 to 2032.
Over the projected period, the industry’s growth will be driven by an increasing emphasis on automation, efficiency, and effective organizational governance procedures.
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End-users have more negotiating power with multi-cloud management since they may switch between several providers rather than depending on a single provider. Furthermore, end users may employ multi-cloud management to divide their workload across many clouds and provide greater flexibility in data distribution. During the projection period, North America is estimated to have the greatest market share in the Multi-Cloud Management market, followed by the European region. The region’s cloud services industry is rapidly transitioning from isolated cloud solutions to platforms that incorporate onsite, public, and private IaaS. Because of its powerful economic infrastructure and corporate need for cloud services, Europe is expected to be the industry’s second biggest region in terms of market size.
Key Takeaways from the Market Study
- By 2022-end, multi-cloud management deployment will likely acquire a value of US$ 9 Billion.
- According to Fact.MR, large enterprises will likely account for bulk of multi-cloud management use, expanding at a 22% CAGR.
- Multi-cloud management market in the U.S to accumulate a market share of 35% in 2022
- Germany to be a key growth hotspot in Europe, accelerating at a 21% CAGR
- The BFSI segment is anticipated to grow at a CAGR of 23% during the projected period
- Global multi-cloud management market to flourish 8.3x from 2022 to 2032
Key Segments Covered in the Multi-Cloud Management Market Report
- By Type :
- Security & Risk Management
- Training & Consulting
- Reporting & Analytics
- Managed Multi-Cloud Services
- Other Types
- By Enterprise :
- Small & Medium Enterprises (SME)
- Large Enterprises
- By End Use :
- IT & Telecom
- Consumer Goods & Retail
- Media & Entertainment
- Other End Uses
- By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa