Multi-Cloud Management Market

Enterprises are increasingly pursuing multi-cloud management solutions in order to provide more efficient and dependable services at reduced costs across several platforms while avoiding vendor lock-in. The increasing variety of cloud computing technologies, as well as the growing acceptance of containerization and microservices for cloud-native applications, bode well for market expansion.

The global multi-cloud management market was estimated at US$ 6.5 Billion in 2021, and is expected to reach US$ 9 Billion in 2022. Furthermore, the market is predicted to increase at a CAGR of 23.6% from 2022 to 2032.

The multi-cloud management solutions market is going to flourish at a CAGR of 23.6% during the 2022-2032 forecast period. As per the study, the multi-cloud management industry is forecast to reach a valuation of US$ 75 Billion by 2032. Multi-cloud management platforms enable businesses to manage numerous cloud services, such as SaaS, PaaS, and IaaS, within a single heterogeneous architecture.

Multi-cloud management enables the deployment and administration of enterprise-class applications across public, private, and hybrid clouds. It also enables enterprises to streamline cloud storage administration while increasing security.

The continuous rollout of high-speed 5G networks, developments in cutting-edge technologies such as AI and Machine Learning (ML), and the improved flexibility provided by cutting-edge cloud computing technologies are likely to boost the sector throughout the projection period.

Concerns about the dependability of single clouds and vendor lock-in situations, as well as a growing preference for cost-effective cloud installations and increasing pressure to ensure compliance with various data security and privacy protection regulations, are driving enterprises to adopt multi-cloud management solutions.

End-users have more negotiating power with multi-cloud management since they may switch between several providers rather than depending on a single provider. Furthermore, end users may employ multi-cloud management to divide their workload across many clouds and provide greater flexibility in data distribution.

The major factors driving market growth are uncertainty about single cloud reliability, an increase in organizations’ preference for price-sensitive cloud deployments, an increase in the need to avoid vendor lock-in, and an increase in the need for policy compliance from regulatory bodies for data sovereignty.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA