Cloud Management Platform Market Size was valued at USD 2.44 Billion in 2023. The Cloud Management Platform market industry is projected to grow from USD 2.83 Billion in 2024 to USD 9.34 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.10% during the forecast period (2024 - 2032). The rising usage of multi-cloud services across several industry sectors, as well as the growing proclivity of small and medium-sized businesses are the key market drivers enhancing the market growth.
Figure 1: Cloud Management Platform Market Size, 2024-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Growing obese population is driving the market growth
Market CAGR for cloud management platform is being driven by the rising number of obese people. AI for IT operations (AIOps) capabilities offer various services that enable businesses to automate their IT procedures. AIOps solutions provide capabilities like root cause analysis, anomaly identification, and actionable insights. Companies are using innovative technologies to identify potential dangers before they occur. AIOps helps organizations minimize the high downtime costs due to application and infrastructure issues. Using AIOps technologies, businesses may automate warnings, send tickets, and obtain information. Furthermore, many businesses want to invest in IT infrastructure. This would open up considerable chances for AIOps solution providers in this ecosystem to combine with a cloud technology supplier to broaden their Cloud Systems Management software offerings. Technological improvements are projected to increase prospects for integrated industry growth. The market will gain greatly from the launch of a hybrid cloud infrastructure. During the predicted period, the hybrid cloud platform will see massive usage. The cheap starting cost is a critical aspect of increasing hybrid cloud usage. SMEs are predicted to be interested in hybrid cloud infrastructure. Customers will be drawn in by the flexibility, scalability, efficiency, and high-end features. Hybrid cloud management has substantially cheaper setup and maintenance expenses.
Cloud service providers have invested significantly in modern data centers outfitted with cutting-edge technologies to support compute-intensive applications such as IoT, AI, and Big Data. The data center architecture increases agility while providing services that maximize revenue growth, value, and energy efficiency. The growing number of data center deployments is driving up software demand. Furthermore, cloud video streaming services such as Amazon Prime Video, HBO, Netflix, and Disney+ offer near-instant access to original and high-quality material. This one-of-a-kind streaming service has enhanced home entertainment and resulted in a greater user base. These services are built on a cutting-edge cloud infrastructure. Concerns about the dependability of single clouds and vendor lock-in situations, as well as a growing need to ensure accordance with various data security and privacy protection regulations, are driving enterprises to adopt multi-cloud management tools. End customers have more bargaining power with multi-cloud management since they can switch between many providers rather of relying on a single one. End users may also use multi-cloud management to divide their workload over many clouds and provide greater flexibility in data distribution. Thus, driving the Cloud Management Platform market revenue.
The Cloud Management Platform market segmentation, based on Component includes solution and services. The services segment dominated the market, accounting for 35% of market revenue. A multi-cloud approach enables organisations to select from a variety of cloud services and select those that best meet their individual needs. The ML capabilities of multi-cloud systems might potentially facilitate big data transfers, creating substantial business demand for multi-cloud management solutions. Cloud adoption gives organisations with alternatives to relying on the infrastructure, add-on services, and price offered by a single cloud provider. Furthermore, businesses can choose a cloud provider with data centres near their clients to minimise latency and boost performance metrics.
The Cloud Management Platform market segmentation, based on deployment mode includes hybrid cloud, public cloud, and private cloud. The private cloud segment dominated the market. The findings can be used to forecast server component failures or application breakdowns. In other words, cloud automation may significantly aid capacity planning by allowing for more accurate forecasting of infrastructure requirements.
The Cloud Management Platform market segmentation, based on Organization Size, includes SMEs and large enterprises. The large enterprise category generated the most income (70.4%). A cloud approach enables organisations to select from a variety of cloud services and select those that best meet their individual needs. The ML capabilities of cloud systems might potentially facilitate big data transfers, creating substantial business demand for multi-cloud management solutions. Cloud adoption gives organisations with alternatives to relying on the infrastructure, add-on services, and price offered by a single cloud provider. Furthermore, businesses can choose a cloud provider with data centres near their clients to minimise latency and boost performance metrics.
Figure 2: Cloud Management Platform Market, by Organization Size, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Cloud Management Platform market area will dominate this market, owing to early adoption of innovative technologies and a highly competitive market. Key vendors have contributed to the region's adoption of Cloud Systems Management software. End-user preparedness to accept developing technologies has also prompted important providers to create and provide sophisticated cloud services.
Further, the major countries studied in the market report are The US, Canada, German, Spain, China, France, the UK, Italy, Japan, India, Australia, South Korea, and Brazil.
Figure 3: CLOUD MANAGEMENT PLATFORM MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe has the second-largest market share for Cloud Management Platform. It is utilized in a variety of studies. Rising digital government activities and regulatory regimes, as well as the region's expanding usage of cloud-based technologies, are expected to boost development. In addition, industry leaders are concentrating on growing their operations in the region. Furthermore, the German Cloud Management Platform market dominated, while the UK Cloud Management Platform market grew fastest in Europe.
From 2023 to 2032, the Asia-Pacific Cloud Management Platform Market will develop at the quickest CAGR, Because of increased levels of urbanisation, technological innovation, and government investment in the digital economy. Due to significant advancements in telecommunications, cloud computing, and IoT, some businesses have adopted cloud-based approaches. Because of the expanding popularity of cloud technologies and the growing number of business operations, the use of Cloud Systems Management solutions has increased significantly. Furthermore, China's Cloud Management Platform market had the highest market share, while India's Cloud Management Platform market was the fastest expanding in the Asia-Pacific region.
Leading market companies are extensively spending R&D on increasing their product lines, which will help the Cloud Management Platform market grow even more. Important market developments include new product releases, contractual agreements, acquisitions and mergers, greater investments, and collaboration with other organizations. The Cloud Management Platform industry must produce cost-effective merchandise to flourish and thrive in a more competitive and increasing market climate.
Manufacturing locally to reduce operating costs is an effective business strategy manufacturers use in the worldwide Cloud Management Platform industry to serve clients and expand the market sector. The Cloud Management Platform industry has provided some of the most important benefits recently. Major players in the Cloud Management Platform market, including General Mills Inc., Amway, Conagra Brands Inc., Cargill Incorporated, Abbott Laboratories, Kraft Foods Group Inc., and others, are attempting to increase market demand by investing in research and development operations.
Microsoft Corporation is a technology company based in Redmond, Washington. The Windows operating system, the Microsoft 365 suite of office programs, and the Internet Explorer and Edge web browsers are among Microsoft's most well-known software products. Its major hardware offerings are the Xbox video game consoles and the Microsoft Surface family of touchscreen personal PCs. In addition to Internet search (via Bing), mixed reality (HoloLens), the digital services market (via MSN), cloud computing (Azure), and software development (Visual Studio), the company produces a wide range of other consumer and enterprise software for desktops, tabs, laptops, gadgets, and servers. In May 2021, Microsoft Corporation cooperated with Micro Focus to provide government organizations with digital transformation methods and cloud computing. This relationship with Microsoft allows mainframe programs to run securely and scalable on Microsoft Azure.
The Element Materials Technology Group is a leader in testing, inspection, and certification services for a wide range of goods, materials, and technologies in modern industrial supply chains where failure is not an option. Element announced its new, industry-leading environmental objectives in 2021, pledging to net zero emissions worldwide by 2035. In October 2021, In Europe, Element collaborated with Parametrix to develop unique cloud outage insurance. Furthermore, this collaboration is intended to compensate for financial losses caused by disruptions at third-party IT and cloud infrastructure providers.
Cognizant (US)
Flexera (US)
Datadog(US)
Red Hat (US)
New Relic (US)
VMware (US)
MicroFocus (England)
Snow Software (Sweden)
In November 2023, it was reported by Dell Technologies that they had outstanding services for Microsoft 365 Copilot that would enhance productivity and efficiency. Such resources enable consumers to deploy multi-cloud management for optimized efficiency and greater control.
In September 2023, Microsoft Corp and Oracle Corp completed the enhancement of their collaboration by providing Oracle Database Services on Oracle Cloud Infrastructure hosted in Microsoft Azure datacenters. By partnering with Oracle, Microsoft Azure can host Oracle database services and help customers catalyze the new era of cloud-based technologies.
In September 2023, BMC Software Autonomous Digital Enterprise software solutions, in addition to its existing offers, presented further integrations for BMC Helix Control-M and Control-M offerings. These integrations enhance the accessibility of advanced workflow orchestration capabilities for operations teams, data teams, developers, and business operators across an expanding spectrum of data sources, applications, and cloud services.
In March 2023, CoreStack entered into a partnership with TCS with the intention of providing NextGen Cloud Governance Solutions- CloudFinOps, to large enterprises in order to improve their cloud operations. These solutions help businesses to maximize cloud usage, decrease expenditure on cloud, and maintain compliance and security.
In July 2023, Citrix Systems, Inc. announced the enhancement of its on-premises and cloud services for hybrid clients. Companies are benefitting from their latest features and services as there is a decrease in administration responsibilities, enhancement of user experience and security enhancement.
September 2022 recorded the introduction of a multi-cloud management suite, VMware Aria, by VMware, Inc. This suite was designed to manage cloud-native application infrastructure cost, productivity, configuration and deployment. VMware Aria is VMware Aria Graph, a centralized data solution that is graph-based and manages the clumsiness of their clients’ multi-cloud environments. With the enhancement of VMware Aria, the VMware Tanzu platform’s management of development, deployment, DevSecOps and lifecycle of cloud-native applications gets complimented.
Solution
Services
Hybrid Cloud
Public Cloud
Private Cloud
SMEs
Large Enterprises
US
Canada
Germany
France
UK
Italy
Spain
Rest of Europe
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 2.44 Billion |
| Market Size 2024 | USD 2.83 Billion |
| Market Size 2032 | USD 9.34 Billion |
| Compound Annual Growth Rate (CAGR) | 16.10% (2023-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Organization Size, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Microsoft(US), IBM(US), VMware (US), Dynatrace (US), MicroFocus (England), and Snow Software (Sweden) |
| Key Market Opportunities | The emergence of hybrid cloud infrastructure |
| Key Market Dynamics | AI for IT operation (AlOps) with cloud management platform software |
Frequently Asked Questions (FAQ) :
The Cloud Management Platform market size was valued at USD 2.44 Billion in 2023.
The market is projected to grow at a CAGR of 16.10% during the forecast period, 2023-2032.
North America had the largest share in the market
The key players in the market are Microsoft(US), IBM(US), VMware (US), Dynatrace (US), MicroFocus (England), and Snow Software (Sweden.
The solution dominated the market in 2022.
The large enterprise had the largest share in the market.
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Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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