Multi-cloud Management Market size is poised to reach USD 90 Billion by the end of 2036, growing at a CAGR of 30% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of multi-cloud management was USD 9 Billion. This growth is driven by the scalability, accessibility, and cost efficiency of public cloud services, which are crucial for businesses aiming to optimize their operations across various multi-cloud providers through centralized platforms. Accenture reports that migrating business operations to the public cloud can reduce the total cost of ownership by as much as 40%, highlighting the financial advantages of leveraging public deployments within multi-cloud management frameworks.
In addition to these, other factors that are believed to fuel market growth include the integration of cloud automation and advanced AI and ML analytics. These technologies address the scarcity of human resources for managing complex cloud infrastructures and enable predictive maintenance and efficient capacity planning.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
30% |
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Base Year Market Size (2023) |
USD 9 Billion |
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Forecast Year Market Size (2036) |
USD 90 Billion |
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Regional Scope |
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Enterprise Size (SMEs, Large Enterprises)
In multi-cloud management market, large enterprises segment is poised to hold over 75% share by the end of 2036. The primary cause of this notable expansion is the deliberate adoption of multi-cloud strategies by large enterprises. A staggering 92% of organizations in the US have either implemented or are currently pursuing multi-cloud strategies.
Moreover, 83% of large enterprises have adopted hybrid cloud infrastructure, further emphasizing the shift towards more versatile cloud solutions. By selectively adopting various cloud services, these enterprises can significantly enhance their operational efficiency and reduce latency.
End User (IT & ITeS, BFSI, Healthcare and Life Science)
In multi-cloud management market, BFSI segment is estimated to hold over 37% revenue share by the end of 2036.The segment's growth can be attributed to gravitation towards cloud-based solutions to boost operational efficiency and customer service. Emphasizing resilience, BFSI firms prefer multi-cloud setups to ensure continuity in the event of single-cloud failures. This pivot is also driven by the need for regulatory compliance and to secure operations in the banking sector, as it encompasses a huge number of transactions.
Our in-depth analysis of the global market includes the following segments:
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Type |
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Enterprise Size |
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End Users |
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North American Market Forecast
By the end of 2036, North America region is expected to hold over 35% multi-cloud management market share. The anticipated expansion of the market in this region can be attributed to a multitude of factors, notably the dynamic adoption of cloud services by major enterprises and startups alike, the persistence of technological advancements, and the substantial presence of premier cloud service providers such as Microsoft, AWS, and Google Cloud. As per the surveys conducted, AWS has the largest sector of 33% for cloud infrastructure, followed by Microsoft Azure and Google with market shares of 22% and 10%, respectively.
Additionally, the dynamic and complex business landscape of North American countries, including the US and Canada, necessitates efficient multi-cloud management solutions, further fueling the expansion of this sector. In the region, the cloud service is quickly switching to platforms combining onsite, public, and private IaaS from an isolated cloud solution.
European Market Analysis
By the end of 2036, Europe region in multi-cloud management market is anticipated to dominate around 30% revenue share. The market’s expansion can be attributed primarily to the robust connectivity infrastructure, which is pivotal in driving cloud service adoption. Europe is witnessing a market migration of workloads to the cloud, aimed at reducing expenses linked to fixed capacity infrastructure and capitalizing on cloud native services for deploying scalable cloud-based infrastructure.
Furthermore, the establishment of several multi-cloud architectures in the U.K., Germany, and France in Europe is propelling the demand for multi-cloud management solutions. The relationship between these growth drivers and the market is synergistic; as businesses seek to enhance scalability and cost efficiency, the market responds with increased offerings and innovations in multi-cloud management, thereby fueling further adoption and market expansion.
Author Credits: Abhishek Verma
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