The Global cloud management service market has emerged as the times require. Although this market has only just begun, it has already reshaped the IT service market landscape. The rapid momentum of the influx of forces from all sides has actively formed a service team to deepen service capabilities and build a cloud service ecosystem.
The global cloud management platform market anticipated growing at a substantial CAGR in the forecast period from 2020-2027. Owing to this, the growing demand for the scale of the cloud computing market has corroborated by data. Enterprises going to the cloud is a critical path to accelerate digital, network, and intelligent transformation, and improve innovation capabilities, business strength, and development levels. At the same time, it is also the source of enterprise industry innovation.
Additionally, cloud management and cloud security can be said to be an indispensable and essential part of the cloud ecosystem. Especially in the field of government cloud and financial industry, the importance of cloud management and cloud security is particularly prominent. Multi-cloud development, cross-cloud deployment, and a mix of public and private clouds are already a common phenomenon. In the face of diversified cloud services, multi-cloud management and cross-cloud management are a real need for enterprises.
Moreover, the vendor’s cloud management platform evaluation includes a comprehensive assessment of the vendor’s product technology capabilities, solution capabilities, R & D innovation capabilities, consulting service capabilities, and vendor development potential. In addition to it, the market share, market position, and user satisfaction of the cloud management platform Comprehensive evaluation of marketing capabilities.
Therefore, the future development prospects of cloud computing are bound to show a rapid upward trend. Owing to the integration of cutting-edge technologies such as Internet big data and blockchain, the market scale is bound to have a larger and faster development.
The global cloud management platform has solved the major problem of storage and allocation of data in a safe place. The data stored on the cloud allow its users to access anywhere sitting around the world without breaching data and privacy of the user. Moreover, it reduces the cost of maintaining and storing data in data centers and reduces the risk of data theft.
The rapid change in technology has increases the demand for cloud management in every aspect of the business. Technology like blockchain, machine data, data analytics, and others have reduced the earlier business risk related to data, cost, privacy, theft. Moreover, hybrid cloud demand is increasing due to public and private cloud features, and other coming new technology will propel the market demand for the cloud management platform market.
Based on Component, the global cloud management platform market is bifurcated into software and solution. The Solution segment was projecting high market growth and expected to rise in the future as well. Owing to, reducing the cost involves in managing and maintaining the IT systems, improves scalability, continuity of business, and easy access to automatic updates and provide the flexibility of work practices to the users.
Based on the solution type, the global cloud management platform market is classified into Automation and Orchestration, Governance and Compliance, Performance Monitoring, Security Solution, and Cost Management. The automation and Orchestration segment will be expected to project the highest market share during the forecast period. Owing to, strengthen the interconnection by implementing tools to improves cloud operations. Moreover, the integrity of the business solution has emerged; it enhances the workflow and process of cloud services by arranging and coordinating the task automatically. Therefore, the solution segment expected to boost the market demand in the forecast period from 2020-2027.
Based on Service Type, the global cloud management platform market is bifurcated into Professional Services and Managed Services. The managed services segment has captured the largest market share in the global cloud management platform market and will be continuing to bolster the growth in the forecast period. Owing to this, increasing efficiency and competitiveness has improved the ability to implement technology efficiently and helps in sticking focus on core business. It reduces labor costs and controls all the expenses as well.
Based on Deployment Type, the global cloud management platform market segmented into Hybrid Cloud, Private Cloud, Public Cloud. The hybrid cloud segment is increasing its market share and will propel the highest growth in the forecast period as well. As the hybrid cloud is a mixture of public and private clouds; therefore, many companies prefer hybrid cloud infrastructure in their premise. This helps in allowing the user to move devices quickly deploy on private or public cloud and provides greater flexibility.
Based on Organization Size, the global cloud management platform market bifurcated into SMEs and Large Enterprises. The SME segment is expected to capture the largest market share in the global management platform market in the forecast period from 2020-2027. Owing to easy accessibility, flexibility, scalability to react faster to the market changing scenarios. Moreover, cloud services can be accessed by anybody on any device and anywhere around the world. Thus, it increases the demand for SMEs in the global cloud management platform market.
Based on industry vertical, the global cloud management platform market bifurcated into BFSI, IT & Telecom. The BFSI segment is expected to bolster the market demand for the global cloud management platform in the forecast period. Owing to increasing scalability, which provides banks the ability to respond quickly to the changes in the market. Cloud technology also assists in coping up with the changing needs of the customer and the technology. Therefore, a cloud management platform can efficiently perform every task in the BFSI and, thus, improves its functions in the forecast period as well.
Based on geography, the global cloud management platform market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The North America region is projecting the highest market share in the forecast market, attributing to the superior market demand for hybrid cloud. The adoption of a hybrid cloud will bolster market growth as it provides flexibility. With increasing disposable income and the industrial and commercial sectors, the demand for cloud management services will fuel the growth of the global cloud management platform market.
Companies such as Cisco Systems, Inc, Citrix systems Inc, VMWare, HP Enterprise Development LP, BMC software, Inc, Embotics Corporation, CloudBolt software Inc., Rightscale, Inc., MORPHEUS DATA, Scalr, Inc, ServiceNow, Divvy Cloud and other prominent players in the cloud management platform market.
By Deployment mode
By Organization Size
By Industry Vertical