Multi-Cloud Management Market

Multi-Cloud Management Market Outlook (2024 to 2034)

An updated research report by Fact.MR reveals that the global multi-cloud management market size is expected to be valued at US$ 13.33 billion in 2024. Worldwide revenue from multi-cloud management solutions is forecasted to rise at a double-digit CAGR of 23.8% to reach US$ 112.76 billion by the end of 2034.

Growing emphasis on effective organizational governance procedures, efficiency, and automation is contributing to the expansion of the multi-cloud management market size. More enterprises are incorporating multi-cloud management solutions to ensure reliable and effective services at economic prices and avoid a situation of vendor lock-in. The versatility of multi-cloud management solutions along with an increasing preference for micro- and containerization services for cloud-native applications are boding well with global market growth.

More enterprises are opting for multi-cloud management solutions for the management of services within one heterogeneous architecture, such as PaaS, IaaS, and SaaS. These solutions are deployed and managed in private, public, and hybrid clouds for simplifying storage management and strengthening security. Advancements in the latest technologies, such as machine learning and artificial intelligence, the rollout of 5G networks, and the increased flexibility of modern cloud technologies are contributing to global market growth.

Growing compliance pressure with several regulations set for privacy protection and data security is stimulating enterprises for opting multi-cloud management solutions. They give end users greater bargaining power as they switch between several service providers rather than depending on a single one.

• East Asia is analyzed to capture 26% of the global multi-cloud management market share by 2034-end.
• Global demand for multi-cloud management services in the BFSI sector is evaluated to increase at a CAGR of 23.3% and reach a market value of US$ 29.32 billion by 2034.
• The market in Japan is forecasted to expand at 25.3% CAGR through 2034.
• Demand for multi-cloud management solutions in Canada is projected to rise at a CAGR of 23.6% from 2024 to 2034.

Report Attribute	Detail
Multi-Cloud Management Market Size (2024E)	US$ 13.33 Billion
Forecasted Market Value (2034F)	US$ 112.76 Billion
Global Market Growth Rate (2024 to 2034)	23.8% CAGR
Market Share of Large Enterprises (2034F)	52%
North America Market Share (2034F)	31.5%
South Korea Market Growth Rate (2024 to 2034)	25.6% CAGR
Key Companies Profiled	Flexera Software LLC; Concierto.cloud; BMC Software, Inc.; VMware Inc.; Citrix Systems, Inc.; Microsoft Corp.; CloudBolt Software, Inc.; Jamcracker Inc.; CoreStack; International Business Machines Corp.; Dell Technologies, Inc.

Why are Multi-Cloud Management Solutions Attracting So Much Attention?

“Multi-Cloud Management Solutions Offering Greater Flexibility in Data Deployment and Migration”

The fear of vendor lock-in is generally highlighted as one of the prominent barriers to the adoption of cloud services. More end users are moving between service providers and reducing their dependency on single vendors, thanks to the outset of multi-cloud management. Further, this relative autonomy is encouraging end users for bargaining with service providers for SLAs (service-level agreements), better pricing, or both. In addition, these multi-cloud management solutions offer flexibility in data deployment while allowing end users for migrating their workload to another cloud if required.

End users are deploying multi-cloud management tools for maximal dependency for managing complex applications across different heterogeneous cloud platforms. These features result in removing vendor lock-in and enable smooth movement from one to another service provider.

What is Hampering Market Expansion to Some Extent?

“Lack of Expertise and Challenges in Network Redesigning”

Irrespective of several benefits associated with multi-cloud management solutions, certain drawbacks, such as lack of required expertise and challenges of network redesigning are restraining multi-cloud management market growth. Network redesigning from on-premise to cloud-based deployment needs noteworthy upfront investments. Thereby, several small & medium enterprises are discouraged from adopting these solutions because of resource and budget constraints.

What is the Contribution of Start-ups to Global Market Progress?

“Focus on Offering Multi-Cloud Management Solutions with More Flexibility and Customization”

New market players are focusing on the development of multi-cloud management solutions with increased flexibility and service customization features to entice more clients to use cloud services at a larger scale. They are ensuring facilities in adopting and managing cloud solutions.

Country-wise Insights

North America is forecasted to hold 31.5% of the global market share by 2034-end, as opined in the updated study published by Fact.MR, a market research and competitive intelligence provider. A noteworthy transition of cloud solutions in the region from isolated services to platforms combining public, onsite, and private IaaS is widening their application scope. A growing adoption of IoT-enabled and connected devices is generating demand for innovative cloud solutions.

Why are Multi-Cloud Management Solution Providers Lining Up in the United States?

“Growing Adoption of Lined and IoT Devices across the Country”

Attribute	United States
Market Value (2024E)	US$ 1.96 Billion
Growth Rate (2024 to 2034)	23.5% CAGR
Projected Value (2034F)	US$ 16.2 Billion

The United States is evaluated to account for 45.6% share of the market in North America by 2034. The cloud service business in the country is evolving significantly from isolated cloud services to platforms including private, public, and onsite IaaS.

Expanding wireless connection services and the growing use of IoT-enabled and connected devices are key multi-cloud management market trends. Thereby, more participants are investing to match the requirements for effective computing frameworks. The presence of some prominent market players, such as Google Cloud, AWS, and Microsoft is contributing to the revenue stream.

What Makes China a Lucrative Market for Multi-Cloud Management Service Providers?

“Large-scale Digital Transformation Initiatives in China”

Attribute	China
Market Value (2024E)	US$ 1.53 Billion
Growth Rate (2024 to 2034)	24.7% CAGR
Projected Value (2034F)	US$ 13.93 Billion

China is evaluated to account for a share of 47.5% of the East Asian market by the end of 2034. The increasing adoption of cloud computing with growing incidences of digital transformation initiatives is creating the application scope of multi-cloud management solutions. The rising incorporation of cloud technologies is resulting in a favorable environment for providers of multi-cloud management solutions in China. Moreover, constant efforts by the government in China for digital transformation are also driving market growth.

What’s Drawing Several Companies to Japan?

“Growing End User Requirements for Modernization Workloads”

Attribute	Japan
Market Value (2024E)	US$ 905.6 Million
Growth Rate (2024 to 2034)	25.3% CAGR
Projected Value (2034F)	US$ 8.62 Billion

Japan is projected to hold a 29.4% share of the East Asia market by 2034. More businesses are giving preference to modernizing workloads while replacing existing on-prem data centers. Increased adoption of multi-cloud management solutions is attributed to their flexibility and preventing lock-in issues of single-cloud services. Improved security, flexibility, and simple integration of these multi-cloud solutions contribute to their increased demand.

Category-wise Insights

As stated in the Fact.MR report, financial institutions are installing multi-cloud management services for improving operational efficiency and providing quick customer services. These financial firms desire multi-cloud management solutions to have other cloud options in case one fails.

Why are Multi-Cloud Management Solutions Preferred More in Large Enterprises?

“Improved Performance Indicators and Reduced Latency of Multi-Cloud Management Solutions”

Attribute	Large Enterprises
Segment Value (2024E)	US$ 7.2 Billion
Growth Rate (2024 to 2034)	23.3% CAGR
Projected Value (2034F)	US$ 58.64 Billion

Large enterprises are analyzed to occupy a market share of 52% by 2034. The multi-cloud strategy enables businesses to opt for different cloud services according to specific requirements. Machine learning capabilities of these solutions aid in large data transfers, thereby contributing to their increased demand in large enterprises.

Enterprises opt for a cloud service provider with data centers, which are closer to their specific clients for reducing latency and improving performance indicators. These large enterprises distribute heavy workloads across computing infrastructures, which further helps in encouraging innovation, saving costs, ensuring business continuity, increasing efficiency, and strengthening disaster management.

Why is Use of Multi-Cloud Management Solutions Rising in the BFSI Sector?

“Growing Need in BFSI Industry for Security Compliance Purposes”

Attribute	BFSI
Segment Value (2024E)	US$ 3.6 Billion
Growth Rate (2024 to 2034)	23.3% CAGR
Projected Value (2034F)	US$ 29.32 Billion

The BFSI industry is analyzed to capture 26% share of the global market by 2034. Several banking organizations are opting for cloud-based installations to enhance their operational efficiency and ensure prompt consumer services. BFSI companies prefer multi-cloud management solutions as they ensure taking over an event in case of failure of one cloud. More service providers are offering more secure solutions for financial institutions to ensure regulatory compliance and secure workloads.

For instance :

• In September 2021, Temenos, a provider of enterprise software for financial services and banks, entered into a collaboration with International Business Machines Corp. to accelerate hybrid cloud adoption for use in the BFSI industry.

Competitive Landscape

Key players in the multi-cloud management market are actively involved in novel product launches to offer more advanced solutions with improved efficiency.

• For instance :

• Virtana is one of the prominent providers of multi-cloud services. It offers a diverse range of cloud-based services for several verticals, such as government, retail, healthcare, and financial services. The company entered into a partnership with cloudEQ to help enhance channel momentum and improve its ability to deliver FinOps (financial operations) capabilities through strategic partnerships.
• IBM, in June 2021, acquired Turbonomic to offer AIOps capabilities for the hybrid cloud.

Fact.MR provides detailed information about the price points of key providers of multi-cloud management solutions positioned across the world, sales growth, production capacity, and speculative technological expansion, in this recently updated market report.

Segmentation of Multi-Cloud Management Market Research

• By Type :

  • Security & Risk Management
  • Training & Consulting
  • Reporting & Analytics
  • Automation
  • Managed Multi-Cloud Services

• By Enterprise :

  • Small & Medium Enterprises (SMEs)
  • Large Enterprises

• By End-use Industry :

  • BFSI
  • Manufacturing
  • Consumer Goods & Retail
  • Healthcare
  • Government
  • Media & Entertainment

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • MEA