Multi-Cloud Management Market Size Worth $32.75 Billion By 2028: Grand View Research, Inc.

Read 185 page market research report, "Multi-Cloud Management Market Size, Share & Trends Analysis Report By Solution (Security & Risk Management, Training & Consulting, Cloud Automation), By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research

Independent Software Vendors (ISVs) are increasingly relying on virtualization and cloud as they are gradually evolving from software developers to software providers. Cloud-based infrastructure guarantees greater scale, service customization, and flexibility. At this juncture, Cloud Service Providers (CSPs) are also trying aggressively to make a foray into the market by adopting, managing, and supporting several cloud products, simultaneously. Foraying into the market would potentially allow CSPs to offer adequate flexibility to ISVs in terms of selecting cloud services according to their changing needs.

The outbreak of the COVID-19 pandemic has played a vital role in driving the demand for multi-cloud management solutions. The outbreak of the pandemic and the subsequent restrictions imposed by various governments as part of the efforts to arrest the spread of coronavirus has triggered the demand for the latest, advanced digital technologies and a well-established, strong network. Having realized that opting for a cloud-based infrastructure would help ensure a winning edge over competitors; organizations are aggressively transitioning their workloads to the cloud, thereby driving the demand for multi-cloud management solutions.

Concerns over vendor lock-in have always been discouraging organizations from opting for cloud services. Vendor lock-in can disrupt business operations and force organizations to compromise on performance. However, organizations have realized that a vendor lock-in situation can be avoided by opting for multiple cloud platforms rather than relying on a single cloud vendor. As a result, single cloud customers are increasingly adopting multi-cloud management solutions.

Advances in technology and the higher levels of flexibility the latest cloud computing technologies can offer are expected to drive the growth of the market over the forecast period. As such, market players are pursuing various strategies, such as product differentiation, launching new products, mergers and acquisitions, and strategic partnerships and collaborations to increase their market share, cement their position in the market, and expand their business. For instance, Accenture announced in December 2020 that the company has helped Rakuten Mobile, from business model design to construction and operation, in launching the latter's fully virtualized cloud-native mobile network.

Grand View Research has segmented the global multi-cloud management market based on solution, enterprise size, end-use, and region:

List of Key Players in the Multi-Cloud Management Market

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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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