The latest research study “Multi-Cloud Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global multi-cloud management market reached a value of US$ 6.43 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 29.23 Billion by 2027, exhibiting a CAGR of 27.50% during 2022-2027.

Multi-cloud management refers to a set of tools used to access, monitor, control, and secure cloud services offered by several vendors. It relies on various tools to provide a centralized platform for simplifying and streamlining the management process. It also assists in minimizing the workload on information technology (IT) teams. Owing to these properties, multi-cloud management solutions are widely adopted across telecommunications, healthcare, retail, banking, financial services, and insurance (BFSI) industries.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The industry is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.

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Global Multi-Cloud Management Market Trends and Drivers: 

The market is primarily driven by the rising product adoption in billing, provision, and compliance activities. In addition, the increasing incidences of distributed denial of service (DDoS) attacks across the globe represent another major growth-inducing factor. Multi-cloud management solutions lower the chances of DDoS attacks by securing access to networks, applications, servers, devices, services, and specific transactions within applications. Moreover, the market is further propelled by the widespread availability of cloud services brokerage (CSB) that eases the integration, installation, analytics, reporting, security, risk management, and other services related to multi-cloud management. Other factors, such as the growing inclination toward price-sensitive cloud deployments, the surging need to avoid vendor lock-in, and the rapid expansion of small and medium enterprises (SMEs), are also creating a positive market outlook.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Component:

• Software
• Services

• Security and Risk Management
• Training and Consulting
• Reporting and Analytics
• Cloud Automation
• Migration and Integration
• Support and Maintenance
• Others 

Breakup by Deployment Mode:

• Private Cloud
• Public Cloud
• Hybrid Cloud

Breakup by Enterprise Size:

• Small & Medium Enterprise (SME)
• Large Enterprise

Breakup by Application:

• Identity and Policy Management
• Compliance Management
• Infrastructure and Resource Management
• Metering and Billing
• Provisioning
• Lifecycle Management
• Others

Breakup by Industry Vertical:

• BFSI
• IT and Telecommunication
• Healthcare
• Retail and Consumer Goods
• Public Sector
• Energy and Utilities
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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The major players in the market are Accenture plc (NYSE: ACN), BMC Software Inc., CenturyLink (NYSE: LUMN), Cisco Systems Inc., Citrix Systems Inc., Cloudbolt Software Inc., Dell Inc., Flexera, International Business Machines Corporation, Jamcracker Inc., Micro Focus International plc and Vmware Inc.

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