Kenneth Research released a report on Multi Cloud Management Market that consists detailed analysis and industry insights for the forecast period, i.e. 2020-2026. On the basis of analysis of the market value and calculation of the CAGR during the forecast period, the latest trends and business opportunities in the market are discussed in the report. Backed by the growing advancements in the ICT industry, especially in the field of internet of technology (IoT) and artificial intelligence (AI), along with the advancements that support the basic backbone of the overall ICT industry, the Multi Cloud Management Market is projected to grow with a modest CAGR during the forecast period, i.e. 2020-2026.
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In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years.
Multi-cloud management refers to a combination of research and innovation with a complete lifecycle of cloud-ready solutions. Increasing demand for cloud computing is one of the major driving factors of the global multi-cloud management market. A number of factors are driving the growth of the market such as lower costs, flexibility, agility, and security. Thus, there has been a considerable increase in the adoption of multi-cloud management across various industry verticals. Additionally, need for high-level of governance and policies is further add fuel to the market growth.
The objective of deploying a multi cloud architecture is to reduce reliance on any single vendor, increase flexibility through choice, and mitigation against disasters. Multi cloud management is similar to the use of best-of-breed applications from multiple developers on a personal computer, rather than the defaults offered by the operating system vendor. Multi cloud architecture is beneficial as no one provider can be everything for everyone. Multi cloud architecture is different from hybrid cloud in the sense that it refers to multiple cloud services rather than multiple deployment modes (public, private, and legacy).
The major factors that drive the market growth are uncertainty about single cloud reliability, growth in inclination of organizations toward price-sensitive cloud deployments, growth in need to avoid vendor lock-in, and rise in need of policy compliance from regulatory bodies for data sovereignty.
The Asia-Pacific multi-cloud management market generated the highest revenue in 2016, attributed to large population, high Internet penetration in the region, and high number of youth active on social networks & other online platforms. The LAMEA multi-cloud management market is expected to grow at the highest CAGR, owing to the growth in penetration of internet, changes in consumer demographics, and uncaptured opportunities for the suppliers in LAMEA for e-learning content, software, hardware, and other services. Further, government of the Middle East focuses on promoting mass digitization process especially in soft skills development
Internal Brokerage Enablement
External Brokerage Enablement
By Deployment Model
Metering and Billing
Identity and Policy Management
By Service Type
Data Security and Risk Management
Migration and Integration
Training and Consulting
Support and Maintenance
Telecommunications and IT-enabled Services (ITES)
Retail and Consumer Goods
Media and Entertainment
By Regional Ananlysis
*Rest of Europe
*Rest of Asia-Pacific
*Rest of LATAM
Middle East & Africa
*Rest of MEA
Multi Cloud ManagementMarket: Recent Contracts/Deals and Acquisitions
Few of the companies in Multi Cloud Management market are: Rightscale, Inc., Dell Technologies, Inc., Doublehorn, LLC., Jamcracker, Inc., VMware Inc., Neverfail, LLC.,*Rackspace Hosting, Inc., Ecmanaged SL, Cliqr Technologies Inc., Accenture PLC and Key Innovators. These companies are continually in the process of updating their offerings and service portfolio.
The Information and Communications Technologies (ICT) sector in Canada consists of more than 41,500 companies, out of which, over 37,000 companies come under the category of software and computer services industries. Hence, around 89.8% of key players in the ICT industry are involved in software and computer services, 4.5% companies are in ICT wholesaling, 3.4% in communications services and the remaining 2.2% companies are involved in ICT manufacturing in the country, as per the Canadian ICT Sector Profile released by the Government of Canada in 2018.
Reasons to Purchase this Report
* Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
* Provision of market value (USD Billion) data for each segment and sub-segment
* Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
* Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
* Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
* Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
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