The multi-cloud management enables enterprises to manage workloads and applications across all the cloud deployment models, comprising public, private, and hybrid cloud. MarketsandMarkets expects the global multi-cloud management market to grow from USD 939.3 million in 2016 to USD 3,431.2 million by 2021, at a Compound Annual Growth Rate (CAGR) of 29.6%. Increased agility, automation, and the need for achieving the right level of governance are some of the major driving factors of the multi-cloud management market.
Significantly growing hybrid platform is playing a crucial role in aligning the overall business drivers and outcomes. The hybrid cloud is projected to have the maximum market share among the deployment models, as it provides the features of both cloud services and on-premises. This also gives an opportunity to the multi-cloud management market to grow as it helps organization to efficiently transfer their workloads from on-premises and different cloud environments to a unified platform. Due to the significant growth in the adoption of hybrid cloud, it is also expected that the enterprises will soon adopt the multi-cloud management platform. Moreover, automated cloud migration & disaster recovery and live cloud migration are the upcoming trends in the cloud automation market. The benefits offered include rapid deployment, increased staff efficiency, reduced cost of maintenance, improved responsiveness to end users, optimum resource utilization, and increased quality. The use of automation has allowed the enterprises to move and manage cloud services on private and public cloud as well as traditional IT infrastructure.
The retail and consumer goods industry is witnessing a potential growth in the multi-cloud management market across regions, owing to the increase in the adoption of cloud-based applications. Moreover, the telecommunication and IT sector has been early adopters of cloud-based technologies, as they help in offering enhanced customer services.
The provisioning application is expected to dominate the market during the forecast period 2016–2021. Cost optimization and proper resource allocation are the major goals for the organizations and therefore provisioning plays an important role in managing these. Provisioning also helps in efficient utilization of cloud resources.
Under service type, cloud automation is expected to grow with the highest CAGR during the forecast period. Automated cloud-based services and deployment of complex IT services are some of the major advantages of cloud automation. Moreover, it enables enterprises to manage the complete lifecycle of deployment and usage of cloud services.
North America is expected to hold the largest market share in 2016 while Asia-Pacific (APAC) is expected to be the fastest growing region in terms of CAGR. Factors such as improved IT infrastructure, growing internet penetration, and increasing number of connected devices are the major factors supporting the growth of the multi-cloud management market in APAC.
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