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The multi-cloud management market is still in its initial phase, with only few enterprise-level deployments. The platform eliminates the crucial challenges such as vendor lock-in, higher cost, latency, enhanced security and compliance for cloud-based models and hence, has emerged as a major trend in the field of cloud services.
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Multi-Cloud Management Market 2020 by Current Trends, Growth and Regional Forecast To 2026
KeyInsights Multi-Cloud Management Market : • The multi-cloud management market is still in its initial phase, with only few enterprise-level deployments. The platform eliminates the crucial challenges such as vendor lock-in, higher cost, latency, enhanced security and compliance for cloud-based models and hence, has emerged as a major trend in the field of cloud services. Additionally, the small and medium enterprises are adopting multi-cloud services and moving their applications on cloud-based platforms. By using multi - cloud the enterprises can significantly minimize the dependency on a single vendor. • However, the applications which are truly built on multi-cloud platform are difficult to manage as different clouds use different management interfaces and APIs. These challenges are further affecting the multi-cloud management market growth. • Multi-cloud management involves a cloud platform that enables enterprises to transfer their workloads on multiple clouds including Software as a Service (SaaS), Infrastructure as a Service IaaS, and Platform as a Service (PaaS), depending upon the criticality of information. The rising adoption of multi-cloud services from several industry verticals including BFSI, government, hospitality, retail, and consumer goods is expected to significantly facilitate the multi-cloud management market growth.
Continued… • This is mainly due to substantial features associated with cloud services such as faster deployment, minimized operational cost, flexibility, and scalability over traditional on-premise IT solutions. With the increasing workload, enterprises subscribe to different cloud service providers to improve operational efficiency. The demand for multi-cloud management is expected to rise swiftly in line with growing adoption for managing growing operational complexities in enterprise environments.
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Major Companies In Multi-Cloud Management Market : • The companies operating in the multi-cloud management market are engaged in strategic mergers and acquisitions in order to strengthen their foothold in the market. For instance, In November 2019, Red Hat, Inc. acquired a startup company named NooBaa. The company specialized in developing software or managing data storage services across hybrid and multi cloud environments. The acquisition helped Red Hat in expansion of their existing hybrid cloud portfolio. • The global multi-cloud management market is as it is highly competitive as the market is fragmented with several regional and global players. Some of the major player operating in this market are Accenture, BMC Software, Inc., Centurylink, Citrix Systems, Inc., Cisco Systems, Inc., Cloudmore, Cloudyn, Dell Inc., DoubleHorn, IBM Corporation, Jamcracker, Inc., RightScale, Flexera, SixSqSarl, Turbonomic, Inc, and VMware, Inc.
Regional Multi-Cloud Management Market : • North America dominates the global multi-cloud management market accounting for a significant share. The dominance of North America can be attributed to early adoption of technology across the region. Also, the organizations are inclining towards cost-effective cloud-deployment. Furthermore, the growth of Asia Pacific region is due to high internet penetration, rising popularity of social media solutions and other online platforms.
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