How Has the Multi Cloud Management Market Size Evolved in Recent Years?
The multi cloud management market has seen considerable growth due to a variety of factors.
• The market size for multi-cloud management has seen a significant increase in recent years. The market, which was valued at $12.39 billion in 2024, is predicted to reach $15.86 billion in 2025, resulting in a compound annual growth rate (CAGR) of 28.1%.
The substantial growth in the past can be credited to factors such as the upsurge in cloud adoption, the intricacies inherent in multi-cloud environments, security issues, the need for cost optimization, and the demand for operational efficiency.
What Is The Forecast For The Multi Cloud Management Market Size?
The multi cloud management market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of multi-cloud management is predicted to witness a dramatic escalation in the forthcoming years. The value is projected to increase to $40.45 billion by 2029, with a compound annual growth rate (CAGR) of 26.4%.
This surge during the predicted period is primarily due to enhanced security needs, emphasis on cost governance, growing complexity in multi-cloud scenarios, hybrid cloud proliferation, and legislative compliance obstacles. The forecast period will also see a trend towards accelerated technological advancements, increased implementation of multi-cloud approaches, interconnectivity’s rising significance, focus on cost-efficiency, and the application of automation for effective management.
What Are The Essential Drivers Behind The Growth Of The Multi Cloud Management Market?
The rise in IoT-connected devices is projected to amplify the expansion of the multi-cloud management market in the foreseeable future. IoT-connected devices, nonstandard computing devices that connect wirelessly to a network and relay data, benefit from multi-cloud management. It provides superior management for the abundant data produced by these devices over multiple cloud platforms. It also helps organizations circumvent the restriction of being bound to a single cloud service provider, which can hinder their adaptability and escalate expenses. For example, Ericsson, a Sweden-based telecommunications company, released a report in November 2022, stating that broadband IoT (4G/5G), which links most cellular IoT devices, reached 1.3 billion connections that year. Approximately 60% of cellular IoT connections are predicted to be broadband IoT connections by the culmination of 2028, with 4G being the predominant connector. Hence, the proliferating IoT-connected devices are fueling the expansion of the multi-cloud management market. The upturn in digitization is predicted to spur the progress of the multi-cloud management market moving forward. It converts analog data from non-digital mediums like physical papers, photographs, and sound recordings into digital data that can be stored. Multi-cloud management is employed in digitization to fine-tune resource allocation, augment data redundancy, enhance scalability, and ensure high availability across multiple cloud platforms, ultimately resulting in improved operational efficiency and a reduced risk of downtime or data loss. For instance, in December 2022, the Augusta Free Press, a US-based news service company, reported that global spending on digital transformation approximated to around $1.85 trillion, a 16% increase from the prior year. Therefore, the escalating digitization is propelling the growth of the multi-cloud management market.
How Is The Global Multi Cloud Management Market Divided Into Key Segments?
The multi-cloud management market covered in this report is segmented –
1) By Solution: Security And Risk Management, Training And Consulting, Reporting And Analytics, Cloud Automation, Managed Services, Other Solutions
2) By Deployment Model: Public Cloud, Hybrid Cloud, Private Cloud
3) By Enterprise Size: Small And Medium Enterprise, Large Enterprise
4) By End-Use: BFSI, IT And Telecom, Consumer Goods and Retail, Manufacturing, Healthcare, Media and Entertainment, Government, Other End-Uses
Subsegments:
1) By Security And Risk Management: Cloud Security Solutions, Identity And Access Management (IAM), Threat Detection And Mitigation, Compliance And Governance Tools
2) By Training And Consulting: Cloud Strategy Consulting, Cloud Migration Consulting, Multi-Cloud Architecture Training, Managed Service Provider (MSP) Consulting
3) By Reporting And Analytics: Cloud Performance Monitoring, Cost Management And Optimization, Cloud Usage Reporting, Business Intelligence And Analytics For Multi-Cloud
4) By Cloud Automation: Cloud Provisioning And Orchestration, Infrastructure As Code (Iac) Solutions, Cloud Service Automation Tools, Workflow Automation
5) By Managed Services: Cloud Operations Management, Multi-Cloud Monitoring And Support, Disaster Recovery And Backup Services, Service Level Agreement (SLA) Management
6) By Other Solutions: Multi-Cloud Data Management, Cloud Integration Tools, Multi-Cloud Networking Solutions, Cloud Cost Optimization
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What Trends Are Reshaping The Future Of The Multi Cloud Management Market?
Leading firms in the multi-cloud management industry are creating innovative solutions, such as multi-hybrid clouds, to assist businesses with their digital evolution. A multi-hybrid cloud is a computational environment capable of integrating and managing diverse hybrid cloud setups. For example, in April 2023, the US-based IT firm Cognizant debuted a multi-hybrid cloud and edge management platform known as Cognizant Skygrade. This platform is crafted to facilitate business' shift to contemporary cloud-native frameworks and to simplify their cloud management tasks. It effectively merges and functions across various cloud environments, addressing the entire progression of cloud transformation. It combines Cognizant’s capabilities in AIOps, operations, and infrastructure modernization into a singular solution suitable for leaders of digital transformation.
Who Are the Key Players In The Multi Cloud Management Market?
Major companies operating in the multi-cloud management market report are:
• Microsoft Corporation
• Dell Technologies Inc.
• Amazon Web Services Inc.
• International Business Machines Corp.
• Cisco Systems Inc.
• Oracle Corporation
• Flexera Software LLC
• Infosys Limited
• Lumen Technologies Inc.
• VMware Inc.
• NetApp Inc.
• Citrix Systems Inc.
• Rackspace Technology Inc.
• CloudBolt Software Inc.
• BMC Software Inc.
• Snow Software AB
• DivvyCloud Corporation
• Trianz Holdings Pvt. Ltd.
• Virtana Corp.
• AppDirect Inc.
• Jamcracker Inc.
• Cloudenablers Inc.
• Stacklet Inc.
• RightScale Inc.
• CloudCheckr Inc.
• Turbonomic Inc.
• EnvZero Inc.
• Upbound
• DoubleHorn LLC
• Embotics Corporation
What Are The Regional Insights Into The Multi Cloud Management Market?
North America was the largest region in the multi-cloud management market in 2024. The regions covered in the multi-cloud management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
