Multi-Cloud Management Market Size, Share & COVID-19 Impact Analysis, By Enterprise Type (Large Enterprises and Small & Medium Enterprises), By Deployment (Public, Private and Hybrid), By Application (Governance Management, Compliance Management, Infrastructure & Resource Management, Provisioning & Lifecycle Management, Cost Management and Others), By Industry (BFSI, Retail & Consumer Goods, Manufacturing, Healthcare, IT & Telecom, Government & Public Sector and Others), and Regional Forecast, 2023 – 2030

The multi-cloud management market size was valued at USD 7.00 billion in 2022 and is projected to grow from USD 8.61 billion in 2023 to USD 50.04 billion by 2030, exhibiting a CAGR of 28.6% during 2023-2030. North America dominated the global market with a share of 30.14% in 2022.

Multi-cloud management is a set of tools and techniques that enable organizations to monitor and protect workloads and applications across multiple public clouds. Preferably, a multi-cloud management solution allows IT teams to manage multiple clouds through a single interface, supporting multiple cloud platforms such as AWS and Azure, as well as new tools such as Kubernetes. Additionally, more businesses are adopting multi-cloud strategies to take advantage of the best features of different cloud providers and avoid vendor lock-in.

COVID-19 IMPACT

Rising Adoption of Multi-Cloud Solutions during COVID-19 Fueled Market Growth

The emergence of the COVID-19 pandemic expedited the integration of multi-cloud management solutions. Amidst lockdowns and regulatory measures implemented by diverse governments in reaction to the pandemic, enterprises that had previously transitioned workloads to the cloud experienced a marked competitive edge. Proficient cloud management facilitated seamless remote work for employees without compromising productivity. In addition to providing purpose-built solutions to support employees while working remotely, companies collaborated with companies including AWS, Microsoft and Zscaler to increase customer support agility and address uncertainties caused by the pandemic, ensuring appropriate data security within the company. Therefore, the pandemic had a positive impact on the market.

Multi-Cloud Management Market Trends

Advancement in the Latest Technologies Among Several Industries is Expected to Fuel Market Growth

As multi-cloud environments become increasingly complex, the need for intelligent automation and optimization solutions grows. AI and machine learning technologies can be utilized to examine performance metrics, usage patterns, and cost data through multiple clouds. Therefore, a data-driven approach permits organizations to automate resource scaling, workload placement, and cost optimization decisions based on real-time insights. AI-powered multi-cloud management platforms will aid enterprises, reduce costs, streamline operations and improve overall performance, which will drive market business in the coming years. Therefore, this factor is expected to drive market growth.

Multi-Cloud Management Market Growth Factors

Growing Adoption of Cloud Solutions Among Multi-Cloud Users to Drive Market Growth

The concern of vendor lock-in is frequently mentioned as a main barrier to cloud service adoption. Multi-cloud management allows end-users to shift between different providers and reduce dependence on a single provider. This relative independence leads end-users to negotiate improvements in pricing, service level agreements, or both with providers. Moreover, it also provides data deployment flexibility, allowing end-users to move workloads to multiple clouds as needed. Additionally, for maximum independence, end-users can leverage these management platforms to manage complex applications across multiple heterogeneous cloud platforms. This increases the adoption of efficient management solutions among multi-cloud users.

RESTRAINING FACTORS

Budgetary Issues Among Small Scale Businesses May Hinder Market Growth

The industry's growth is anticipated to be hindered by factors such as insufficient expertise and the difficulties associated with reconfiguring networks for cloud integration. The intricate distribution framework of multi-cloud environments, coupled with the challenges in establishing and managing such environments, constitutes the primary obstacles in the market. The transition of a network from on-premises to a cloud-based deployment necessitates a substantial initial investment, which may dissuade small businesses from opting for multi-cloud management solutions, given their budgetary and resource constraints. Before moving to a cloud-based infrastructure or multi-cloud environment, organizations also consider several concerns such as network architecture. Therefore, these factors slow down market growth.

Multi-Cloud Management Market Segmentation Landscape

By Enterprise Type Analysis

Increasing Demand for Multi-Cloud Solutions Among Large Enterprises to Fuel the Large Enterprises Segment Growth

By enterprise type, the market is bifurcated into large enterprises and SMEs.

Large enterprises dominated the market with the highest global multi-cloud management market share. A multi-cloud strategy allows businesses to choose from various cloud services to meet their specific needs. ML capabilities in multi-cloud environments can support large-scale data transfer, increasing the demand for multi-cloud management solutions among large enterprises. Therefore, this factor boosts the market growth.

Additionally, SMEs are expected to grow at the highest CAGR during the forecast period. These SMEs are increasingly adopting multi-cloud management solutions to manage their growing workloads effectively across different cloud providers. By using multi-cloud solutions, SMEs can avoid vendor lock-in and optimize costs by choosing the most efficient provider for each workload. Therefore, these factors play a vital role in driving market growth.

By Deployment Analysis

Increasing Adoption of Advanced Analytics Tools Among Organizations to Propel Public Segment Growth

On the basis of deployment, the market is categorized into public, private and hybrid.

The public cloud segment dominates the market by capturing the largest market share due to its inherent accessibility, scalability, and cost-effectiveness. Since public clouds offer a wide range of services and resources, multi-cloud management platforms can be seamlessly integrated into these environments, allowing organizations to orchestrate and optimize workloads centrally across multiple providers. This approach avoids the complexity of on-premises infrastructure management while providing the flexibility to scale their resources as needed. These factors boost the global multi-cloud management market growth.

The hybrid cloud segment is predicted to grow with the highest CAGR during the forecast period. This management involves using a combination of on-premises, private cloud, and public cloud services. This approach provides flexibility, scalability, and redundancy. Organizations adopt hybrid multi-cloud strategies to optimize workloads, enhance resilience, and leverage specific cloud provider strengths for different tasks. Therefore, these factors play a vital role in driving the growth of the market.

By Application Analysis

Adoption of Effective Infrastructure & Resource Management Practices in Market to Boost the Segmental Growth

On the basis of application, the market is categorized into governance management, compliance management, infrastructure & resource management, provisioning & lifecycle management, cost management, and others.

The infrastructure & resource segment dominates the market with the maximum market share. Implementing effective practices in infrastructure and resource management enhances efficiency, reduces costs, increases agility and improves security. Therefore, proactive monitoring and optimization of resources ensure optimal utilization and minimize waste, leading to improved performance and reduced costs. Thus, this factor promotes market growth.

The provisioning & lifecycle segment is expected to grow at the highest CAGR during the forecast period. Businesses are increasingly adopting automated provisioning solutions such as Infrastructure as Code (IaC) and cloud management platforms (CMPs). These tools automate resource creation, configuration, and deployment across different cloud providers, ensuring consistency and speed. Therefore, these factors play a vital role in driving the market growth.

By Industry Analysis

Rising Cloud-based Installations Among BFSI Sector to Drive BFSI Segment Growth

On the basis of industry, the market is categorized into BFSI, retail & consumer goods, manufacturing, healthcare, IT & telecom, government & public sector, and others.

The banking financial services and insurance (BFSI) segment held the largest market share in 2022. Banking organizations are opting for cloud-based installations to increase operating efficiency and safeguard prompt consumer service. BFSI businesses usually select multi-cloud environments so that the additional cloud can take over in the event of a letdown of one cloud. Vendors offer cloud solutions to protect financial institutions' configurations and workloads and ensure regulatory compliance. Hence, this factor boosts the market growth.

Moreover, healthcare is expected to grow at the highest CAGR during the forecast period. Introducing a data lake to store and analyze large amounts of data from a variety of sources, including patient-generated health data (PGHD), electronic health records (EHRs), and clinical research data can be used to improve patient care, reduce costs, and conduct research. It is used to identify patterns in patient data, permitting healthcare providers to predict patient outcomes, diagnose diseases earlier, and provide more personalized care. Thus, this factor promotes market growth.

REGIONAL INSIGHTS

In terms of region, the global multi-cloud management market is divided into five key regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific. They are further segmented into countries.

North America holds the largest share of the market. Within North America, the cloud services market is swiftly progressing from individualized cloud offerings to platforms amalgamating public, on-premises, and private IaaS. The ongoing proliferation of wireless connectivity and the increasing embrace of connected and Internet of Things (IoT) devices have spurred the need for sophisticated solutions grounded in cutting-edge technologies. Consequently, enterprises are making substantial investments in contemporary technologies with the aim of securing a competitive edge over their peers. The escalating demand for streamlined computing frameworks further augurs positively for the expansion of the regional market. Therefore, North America holds the largest market share due to the growing development in the region.

Asia Pacific is expected to exhibit maximum growth in terms of CAGR during the forecast period. The growth can be attributed to the increasing adoption of cloud computing and digital transformation initiatives in the region. Key countries in this region, such as China, India, Japan, and Australia, are rapidly embracing cloud technologies to drive business innovation and growth. Furthermore, government initiatives and regulations are among the key catalysts for market growth in the region.

Europe is anticipated to exhibit steady growth over the forecast period. The region is also known for its strong connectivity infrastructure, which typically drives the implementation of cloud services. Organizations are increasingly migrating their workloads to the cloud, often using multiple cloud providers to leverage specific strengths of each platform. This necessitates efficient management across diverse cloud environments. Numerous multi-cloud architectural regions are also driving the implementation of these solutions in Europe, boosting market growth.

Similarly, South America is showing significant growth in this market due to the increasing adoption of the cloud and the benefits offered by multi-cloud environments. Moreover, cloud providers will continue to invest in the region, expanding their offerings and developing tools to simplify multi-cloud management for businesses. In addition, the Middle East & Africa (MEA) market is expected to witness prominent growth in the coming years due to increased investment and government funding for digitization.

List of Key Multi-Cloud Management Market Companies

Market Players Embrace M&A Tactics for Global Presence in the Multi-Cloud Solutions Arena

Leading entities in the industry are proactively expanding their international footprint through the introduction of specialized solutions customized for distinct sectors. Employing a strategic approach, they are engaging in partnerships and acquiring local enterprises to establish a strong presence in diverse regions. These organizations are placing emphasis on devising effective marketing strategies and innovating new solutions to uphold and enhance their market share. Consequently, the increasing demand for multi-cloud solutions is anticipated to generate lucrative opportunities for market players.

List of Key Companies Profiled:

• BMC Software, Inc. (U.S.)


• Citrix Systems, Inc. (U.S.)


• CloudBolt Software, Inc. (U.S.)


• CoreStack (U.S.)


• Dell Technologies Inc. (U.S.)


• Flexera Software LLC (U.S.)


• International Business Machines Corp. (U.S.)


• Jamcracker Inc. (U.S.)


• Microsoft Corp. (U.S.)


• Trianz (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• November 2023: Dell Technologies announced the launch of new services for Microsoft 365 Copilot to improve productivity and efficiency. These services permit consumers to manage resources across multiple clouds to provide better flexibility and control.


• September 2023: Oracle Corp and Microsoft Corp expanded collaboration to provide Oracle Database Services on Oracle Cloud Infrastructure in Microsoft Azure datacenters. This partnership with Oracle allows Microsoft Azure to run Oracle’s database services and aid customers in unlocking an innovative wave of cloud-powered innovation.


• September 2023: BMC Software, the Autonomous Digital Enterprise software solutions, announced additional integrations for the BMC Helix Control-M and Control-M offerings. These integrations benefit operations teams, data teams, developers, and business operators with access to advanced workflow orchestration connectivity competencies with an ever-growing set of data sources, applications, and cloud services.   


• March 2023: CoreStack announced a partnership with TCS to provide NextGen Cloud Governance Solutions- CloudFinOps, to large organizations to enhance their cloud operations. These solutions allow enterprises to optimize cloud usage, reduce cloud spend, and ensure safety and compliance.


• July 2023: Citrix Systems, Inc. declared expanded capabilities for its on-premises and cloud solutions for hybrid clients. Their latest features and services benefit enterprises with a reduced admin burden, improved user experience, and enhanced security.

REPORT COVERAGE

The report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product/service types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years.

Report Scope & Segmentation