Multi-cloud management market size is expected to grow from USD 10.28 billion in 2023 to USD 121.35 billion by 2033, exhibiting a CAGR of 28% during the forecast period.
The multi-cloud management market is a rapidly growing industry that includes various tools and technologies designed to help organizations manage and optimize their multiple cloud environments. This market is being driven by several factors, including the growing adoption of multi-cloud strategies, the need for centralized management and governance, and the rise of hybrid cloud environments.
It could be difficult to manage many cloud environments, especially when trying to ensure uniform performance, security, and compliance across all platforms. By offering a single interface for controlling numerous clouds, multi-cloud management solutions and platforms assist in overcoming these difficulties. Data governance and security are significant concerns as more firms store sensitive data in the cloud.
Businesses can guarantee that their data is appropriately secured and comply with regulatory standards by using multi-cloud management technologies. Tools for managing multiple clouds can assist companies in maximizing cloud utilization, cutting expenses, and increasing return on investment.
One Key trend in the multi-cloud management market is the increasing demand for containerization and microservices. As more organizations adopt cloud-native architectures, they are looking for tools and platforms that can help them manage containerized applications across multiple clouds. This has led to the development of new container management and orchestration tools that are specifically designed for multi-cloud environments.
Another trend in the multi-cloud management market is the rise of artificial intelligence (AI) and machine learning (ML) technologies. These technologies are being used to automate various aspects of cloud management, including resource provisioning, performance optimization, and security. AI and ML are also being used to analyze and optimize cloud spending, helping organizations reduce costs and improve efficiency.
Hybrid cloud use is rising as organizations want to strike a balance between the advantages of public cloud computing and the protection and control of private cloud computing. For managing these complicated settings, multi-cloud management technologies are essential.
Multi-cloud management systems are evolving to accommodate containerized environments as containers gain popularity as a means of deployment model in the cloud. Multi-cloud management solutions could be required as more computing power is moved to the network's edge to support edge environments and guarantee uniform performance across distributed infrastructure.
There are many opportunities for multi-cloud management vendors and service providers. These include the development of new management tools and platforms, the integration of existing tools and technologies, and the provision of consulting and advisory services.
Vendors and service providers can also differentiate themselves by focusing on specific vertical markets or by offering specialized capabilities such as container management, governance, or security. Automation and AI-driven insights are growing in importance and necessary as multi-cloud systems get more complicated to help organizations manage their clouds more efficiently.
Vendors have the opportunity to broaden their service offerings and offer more complete multi-cloud management solutions as more enterprises adopt multi-cloud strategies. There is an opportunity for suppliers to provide industry-specific solutions that are specifically suited to the requirements of various verticals because different sectors have varied cloud management requirements.
| Attributes | Details |
|---|---|
| Multi-cloud Management Market Value (2023) | USD 10.28 billion |
| Multi-cloud Management Market Expected Value (2033) | USD 121.35 billion |
| Multi-cloud Management Market Projected CAGR (2023 to 2033) | 28% |
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Given the growing use of multi-cloud solutions by enterprises to address their varied IT demands, the multi-cloud management market is expected to experience tremendous transformation between 2018 to 2022. The desire for increased IT agility, flexibility, scalability, and cost-effectiveness is one of the drivers that have fueled the surge in multi-cloud usage. It could be difficult to manage many cloud environments, therefore businesses need tools and solutions that make it possible for them to manage their cloud resources efficiently across several clouds.
The COVID-19 pandemic crisis has accelerated the use of multi-cloud management tools. Organizations that have already moved their workloads to the cloud are benefiting from a competitive advantage over their rivals given the lockdowns and limitations imposed by various governments in the aftermath of the pandemic breakout. Employee productivity is not compromised by remote work when the cloud is managed effectively.
As large companies seek to diversify their services and capabilities in the multi-cloud management arena, the market has also seen several mergers and acquisitions. For instance, to improve its multi-cloud management capabilities, IBM acquired Instana in 2020, a supplier of AI-powered application performance management solutions for hybrid cloud settings.
The rising usage of multi-cloud settings by enterprises of all kinds is anticipated to fuel significant growth in the multi-cloud management market over the upcoming years. Organizations can maximize their use of the cloud, cut expenses, and boost performance with the use of multi-cloud management solutions. These assist them in managing their cloud resources across several cloud providers. Here are the short-term, mid-term, and long-term growth opportunities for the multi-cloud management market:
These factors are anticipated to support an 11.8X increase in the multi-cloud management market between 2023 to 2033. The market is projected to be worth USD 121.35 billion by the end of 2033, according to FMI analysts.
In 2022, North America led the market and ended up winning the maximum revenue share. The North America multi-cloud management market is fast shifting from standalone cloud solutions to platforms that integrate onsite, public, and private IaaS. The need for creative solutions built on the up-to-date technology has been fueled by the ongoing deployment of wireless connections and the expanding usage of linked and IoT-enabled products. As a result, businesses make aggressive investments in cutting-edge technology to outperform rivals. The expansion of the regional North market is also encouraged by the rising need for efficient computing frameworks.
The United States multi-cloud management market is a growing industry, with many organizations adopting a multi-cloud strategy to manage their IT infrastructure. Organizations in the United States are progressively adopting multiple clouds. In the United States, 84% of businesses use a multi-cloud strategy. More flexibility, less vendor lock-in, higher cost savings, and improved security and compliance are the primary forces driving multi-cloud adoption in the country.
AWS (Amazon Web Services), Azure (Microsoft), and GCP (Google Cloud Platform) are the widely used cloud service providers by businesses in the United States. Other cloud service providers, such as IBM Cloud, Oracle Cloud, and Alibaba Cloud, are succeeding as well. Organizations in the United States use a range of tools and technologies to manage their multi-cloud infrastructures, including cloud management platforms, container orchestration tools, and automation tools. VMware CloudHealth, RightScale, and CloudBolt are a few of the well-liked cloud management solutions utilized in the country.
Organizations that adopt multi-cloud strategies need to comply with various regulations related to data privacy, security, and compliance in the United States. Key regulations include Health Insurance Portability and Accountability Act (HIPAA), the Payment Card Industry Data Security Standard (PCI DSS), and California Consumer Privacy Act (CCPA). Healthcare providers and health plans are required by HIPAA laws to put in place the proper security measures to safeguard sensitive patient health information, especially when employing cloud computing services. This implies that healthcare businesses using multiple clouds must make sure their cloud providers abide by HIPAA rules and have the necessary security measures in place.
Similarly, firms that store, handle, or transport credit card data are required to comply with PCI DSS requirements and apply several security controls, including when employing cloud computing services. This implies that businesses using multi-cloud solutions must make sure that the cloud providers they select abide by PCI DSS requirements and put in place the necessary security measures. Likewise, CCPA requirements mandate that businesses safeguard customers' personal data at all times, even while employing cloud computing services. This means that businesses using multi-cloud strategies must pick cloud service providers who adhere to CCPA guidelines and put in place suitable security measures.
In 2022, Europe multi-cloud management market surpassed Asia Pacific to become the second leading regional market. Along with having a healthy economy, Europe is renowned for having a strong network of connections, which frequently promotes the uptake of cloud services. As part of the initiatives to reduce costs connected with the fixed capacity infrastructure and to utilize cloud-native services to build out a highly scalable infrastructure utilizing the cloud, a looming shift of workloads to the cloud is particularly visible in Europe. The growth of multi-cloud management solutions in Europe is also being fueled by many multi-cloud architectural sectors.
The United Kingdom multi-cloud management market is expanding rapidly as a consequence of businesses increasingly utilizing cloud-based services. To make sure that cloud providers follow data protection and security procedures, the government has created legislation and recommendations. One such law that establishes stringent guidelines on the gathering, storing, and processing of personal data is the General Data Protection Regulation (GDPR). The National Cyber Security Centre (NCSC) was also established by the government in this country to offer advice on risk management and cloud security.
With several key firms like IBM, Microsoft, Google, Amazon, and Oracle providing cloud management solutions, the industry in the United Kingdom is quite competitive. To improve their cloud services and provide their consumers with additional cutting-edge options, these providers are consistently investing in research and development. For instance, IBM revealed in 2021 that its IBM Cloud Satellite service could begin operations in the United Kingdom. With the help of this service, clients may safely operate their cloud workloads across a variety of platforms, including on-premise infrastructure, public and private clouds, and edge devices.
Google confirmed the expansion of its Anthos platform in the United Kingdom in 2021. Customers can administer their applications throughout many environments, including on-premises, Google Cloud, and other public clouds, owing to Anthos, a hybrid and multi-cloud platform. Amazon stated that its AWS Outposts service could begin operating in the United Kingdom in 2021. Any data center, co-location facility, or on-premises facility can now access Amazon infrastructure, services, APIs, and tools due to the fully managed solution known as AWS Outposts.
The Asia Pacific multi-cloud management market is also a key market given the increasing adoption of cloud computing and digital transformation initiatives in the region. Several countries in this region such as China, India, Japan, and Australia are rapidly embracing cloud technologies to drive business innovation and growth. The key state for the multi-cloud management market in this region is China. China is the top market for cloud services, with the country's cloud market expected to reach USD 46 billion in 2023. The government's "Cloud First" policy and its push toward digital transformation are driving the growth of the cloud computing market in the country.
To spur innovation and expansion in the nation's digital economy, the Chinese government has been encouraging the use of cloud computing services. The "Cloud Computing Industry Development and Promotion Measures" and the "Guidance on Encouraging the Growth of Cloud Computing Industry" are only a couple of the rules and laws the government has released to promote the usage of cloud computing. These regulations are designed to foster an atmosphere that is likely to support the growth of China's multi-cloud management business.
The China multi-cloud management market is rapidly growing, driven by the growing adoption of cloud computing services among businesses and government establishments. The market is characterized by the existence of numerous local and international players, including cloud service providers, system integrators, and consulting firms. Many international IT giants have built a foothold in the Chinese cloud computing sector, including Microsoft, Amazon, and Google. At the same time, other local businesses have also emerged as significant players in the sector, including Alibaba, Tencent, and Huawei.
These businesses are substantially spending on research & development activities to improve their multi-cloud management skills. They are also working with other suppliers and partners to diversify their product offerings. The Cloud Cross-Region Kubernetes (CCK) service, a multi-cloud management tool that lets users manage Kubernetes clusters across both public and private clouds, was introduced by Tencent Cloud in 2020.
The Cloud-Native Application Hub, a one-stop platform that enables users to discover, install, and manage cloud-native apps across various cloud environments, was introduced by Alibaba Cloud in 2021. Apsara Stack, Alibaba Cloud's multi-cloud management platform, was introduced in August 2020. It enables users to manage and move workloads between various cloud environments, such as Alibaba Cloud, Amazon, and Microsoft Azure.
Principal Consultant
Many factors contribute to the BFSI (Banking, Financial Services, and Insurance) segment's dominance in the multi-cloud management market. The BFSI industry handles a sizable quantity of sensitive data, including financial and personal data. To effectively manage their multi-cloud environment, businesses need a strong and secure cloud infrastructure. Furthermore, several regulatory criteria, including GDPR and PCI DSS, should be met by the BFSI industry. They can assure compliance across all of their cloud environments with the use of multi-cloud management solutions, which is crucial to avoid regulatory fines and penalties.
The BFSI sector must guarantee high uptime and availability of their apps and services. Their ability to monitor their apps and services across many cloud platforms and ensure that they are operating at peak performance is made possible by multi-cloud management solutions. For instance, Temenos and International Business Machines Corp. worked together in September 2021 to hasten the adoption of a hybrid cloud in the BFSI sector.
Moreover, the BFSI industry has been embracing cloud technologies speedily, and multi-cloud management solutions assist them in managing their multi-cloud environment affordably. By utilizing various cloud platforms, businesses may reduce the cost of their IT infrastructure and boost operational effectiveness.
The need for multi-cloud management solutions has dramatically increased as enterprises progressively migrate their activities to the cloud. The large enterprise segment dominates this industry even though there are numerous competitors. Large corporations have several business divisions that employ various cloud service providers, creating a complicated cloud environment. Multi-cloud management solutions can offer the centralized framework that these businesses need to manage their cloud resources.
Large businesses have the financial means to purchase complete multi-cloud management solutions. These solutions frequently cost a lot of money and need labor-intensive execution. Large companies have the resources to invest in such solutions as well as the staff to manage them successfully. Critical applications and services in large companies need to be highly available and reliable. These businesses can monitor and manage their cloud resources proactively using multi-cloud management solutions, assuring high availability and dependability.
Upbound, Virtana, and CloudCheckr are multi-cloud management start-ups providing comprehensive, integrated, and automated platforms. They focus on product development, engineering, and customer acquisition to capture a larger market share.
Upbound: A multi-cloud management platform called Crossplane is offered by Upbound, a cloud-native computing startup. Businesses can manage numerous cloud platforms with Crossplane, which simplifies management and improves efficiency. As part of a Series B fundraising round in 2020, Upbound raised USD 25 million, which the company utilized to grow its technical staff and create additional Crossplane technologies.
Virtana: A multi-cloud management platform called CloudWisdom is offered by Virtana, a cloud optimization and monitoring startup. Businesses can monitor application performance, solve issues across various cloud platforms, and optimize their cloud spending with the aid of CloudWisdom. To add more powerful monitoring and troubleshooting features to CloudWisdom, Virtana purchased and integrated the cloud monitoring and analytics platform Metricly in 2020. To assist increase channel momentum and capacity to execute Financial Operations (FinOps) capabilities through strategic alliances, the business announced a new agreement with cloudEQ in April 2022.
CloudCheckr: A platform for managing and optimizing the cloud, CloudCheckr assists companies in maximizing their cloud expenditures, ensuring compliance, and keeping an eye on security across various cloud platforms. For an unknown sum in 2020, private equity company Apax Partners purchased CloudCheckr. To grow its client base and quicken the development of its products, CloudCheckr made the acquisition.
Alibaba Cloud, VMware, and Accenture are key players in the multi-cloud management market, each with its own unique strategies for competing and growing in the industry. Recent developments include acquisitions, new products, and expanded capabilities in hybrid and cloud-native environments.
Alibaba Cloud: One of the leading e-commerce enterprises in the world, Alibaba Group, is the parent company of Alibaba Cloud. Its multi-cloud management strategy focuses on helping companies manage and optimize their cloud resources across different platforms, including Alibaba Cloud, Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform. The Cloud Enterprise Network (CEN) solution, which offers dependable and secure network connectivity between various cloud environments, was updated by Alibaba Cloud in 2019. Alibaba Cloud and VMware partnered in April 2022 to provide new Alibaba Cloud VMware services in China. Its launch has hastened the digital revolution of the company. Businesses were able to upgrade apps, move them across VMware and Alibaba's multi-cloud management environments, and change workloads.
VMware: Cloud computing and virtualization software are two services offered by VMware to businesses. The VMware Cloud platform, which enables clients to install and manage applications across several cloud environments, such as Amazon, Azure, and GCP, is at the heart of its multi-cloud management approach. vRealize Cloud Management on-premises and Software-as-a-Service (SaaS) solutions were enhanced by VMware, Inc. in February 2021. The improvements is likely to make the hybrid and multi-cloud infrastructures of the customers more effective, secure, and modern. Several new products and services for its VMware Cloud platform were introduced by VMware in 2020, including VMware Cloud on Dell EMC, which enables users to run VMware Cloud on their own infrastructure, and VMware Cloud Director Service, which offers service providers a multi-tenant cloud management platform.
Accenture: Accenture is a large international provider of professional services that helps companies with outsourcing, technology, and consulting needs. Its multi-cloud management strategy is geared toward assisting clients in designing, constructing, and managing their cloud environments across several service providers, such as AWS, Azure, and GCP. To increase its skills in the hardware and internet of things (IoT) sectors, Accenture purchased Mindtribe, a product design and engineering company, in 2019.
Several new products and services for its Accenture Cloud platform were introduced by Accenture in 2020, including Accenture myNav, a self-service platform for cloud management and optimization, and Accenture Cloud Native Core Services, a set of pre-built cloud-native services that customers can use in their own applications.
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Organizations are embracing multi-cloud strategies to avoid vendor lock-in, enhance performance, and achieve greater flexibility.
These platforms provide centralized control, automation, and monitoring across multiple cloud environments, streamlining operations.
Cost optimization features enable users to allocate resources efficiently, resulting in better budget management across diverse cloud providers.
Trends include AI-driven analytics for predictive insights, security enhancements, and container orchestration to support modern applications.
These solutions offer standardized security policies, encryption, and auditing capabilities to maintain compliance and data protection.
1. Executive Summary | Multi-cloud Management Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 5.1. Software 5.2. Services 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Enterprise Size 6.1. Small & Medium Enterprise 6.2. Large Enterprise 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use 7.1. BFSI 7.2. IT & Telecom 7.3. Consumer Goods & Retail 7.4. Manufacturing 7.5. Healthcare 7.6. Media & Entertainment 7.7. Government 7.8. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. BMC Software, Inc. 18.2. Citrix Systems Inc. 18.3. CloudBolt Software, Inc. 18.4. CoreStack 18.5. Dell Technologies Inc. 18.6. Flexera Software LLC 18.7. International Business Machines Corp. 18.8. Jamcracker Inc. 18.9. Trianz 18.10. VMware Inc. 19. Assumptions & Acronyms Used 20. Research Methodology
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Multi-Cloud Management Market
