MarketsandMarkets forecasts the global Cloud Performance Management Market to grow from USD 1.5 billion in 2022 to USD 3.9 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 17.6% during the forecast period. The major factors driving the growth of the Cloud Performance Management market include increasing penetration of mobile devices and easy availability of internet, and growing demand for cloud usage.
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Large Enterprises segment to hold the highest market size during the forecast period
Organizations with more than 1,000 employees are categorized as large enterprises. The traction of cloud performance management in large enterprises is said to be higher than SMEs, as they are adopting cloud performance management solutions to improve business operational efficiency across regions.
The increasing deployment of SaaS offerings such as customer relationship management, human capital management, enterprise resource management, and other financial applications creates an advantageous environment for cloud monitoring adoption, particularly in large organisations, improve the overall cloud system, improve the cloud monitoring, and sustain themselves in intense competition. Large enterprises introspect and retrospect on implementing best practices to ensure effective performance management. CMaaS (Cloud-Monitoring-as-a-Service) is a popular software solution for large businesses seeking a fully managed cloud monitoring service for cloud and virtualized environments. These solutions are provided by third-party providers and are monitored 24 hours a day by IT experts with access to the most recent APM technologies and services.
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Major Cloud Performance Management vendors include Microsoft (US), IBM (US), HPE (US),Oracle (US), VMware (US), CA Technologies (US), Riverbed (US), Dynatrace (US), App Dynamics (US), BMC Software (US). These market players have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product enhancements to expand their presence in the Cloud Performance Management market. Product enhancements and collaborations have been the most adopted strategies by major players from 2019 to 2022, which helped companies innovate their offerings and broaden their customer base.
A prominent player in the Cloud Performance Management market, Apple focuses on inorganic growth strategies such as partnerships, collaborations, and acquisitions. For instance, in August 2021 IBM collaborated with Clearblade. ClearBlade joined IBM’s edge ecosystem, an initiative designed to assist equipment manufacturers, networking, IT, and software providers in implementing open standards-based cloud-native solutions capable of managing edge applications autonomously at scale. In September 2020, Microsoft launched Azure Data Service, which is a new capability enabled by Azure Arc, which would allow customers to run Azure data services on-premises, multi-cloud, and edge, using Kubernetes on the hardware of choice. Azure Arc-enabled SQL Managed Instance and Azure Arc-enabled PostgreSQL Hyperscale are available in preview now, with other services to come over time. In August 221, Microsoft collaborated with EY. EY and Microsoft Corp. announced the expansion of their strategic relationship. The increased collaboration has centered on the development of new solutions and platforms that will assist organizations in addressing business and societal challenges at scale via digital transformation. In June 2021, HPE launched HPE GreenLake edge to a cloud platform. The company announced the expansion of its HPE GreenLake edge to cloud platform to include support for Microsoft Azure Stack HCI and Microsoft SQL Server.
Hewlett Packard Enterprise (HPE) is a global provider of software, networking products, and solutions to end users that range from small business startups to global leading enterprises. It has a wide range of product offerings and solutions, categorized into data storage, servers and systems, networking, and software solutions. The company, through Hewlett Packard Labs, focuses on innovation to fuel growth, offers its customers enhanced product offerings, and helps overcome consumer and social challenges. HPE provides cloud services, software, IT infrastructure solutions, and advisory services to its customers spanning different verticals worldwide.
It deals in servers, storage, networking, containerization software, consulting, and support. It is an information technology company formed as a part of the splitting of Hewlett-Packard. It operates through four business segments: the hybrid IT segment which provides industry standard servers and storage solutions, the intelligent edge segment which provides software-defined architecture, the financial services segment that provides flexible investing solutions, and the corporate investments segment in HP labs and various business incubations. HPE offers network management solutions, such as HPE Intelligent Management Centre (IMC), It provides thorough network management for both data centers and campus core networks. IMC transforms meaningless network data into useful information to maintain the operation of your network and your company. Network management portfolio has various solutions such as, HPE IMC Basic, HPE IMC Standard, HPE IMC Enterprise, HPE IMC Network Traffic Analyser, HPE IMC Virtual Application Networking, HPE IMC Branch Intelligent Management System.
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