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Retail & Consumer Goods Industry Witnessing Potential Growth in the Multi Cloud Management Market

Thursday, October 6, 2016 22:46
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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.

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:
Mr. Rohan
Markets and Markets
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States
Tel : 1-888-600-6441
Email: sales@marketsandmarkets.com

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