ID: MRFR/ICT/9080-HCR | | Region: Global | 99 pages
The global cloud system management market is expected to register an exponential CAGR duringthe forecast period.
Cloud system management software enables organizations to manage their digital resources stored in different cloud environments. It also helps them seamlessly integrate cloud infrastructure, which enables provisioning, configuration, monitoring, analytics, and cost management processes over the cloud-based platform. Managing multiple cloud architectures lead to challenges such as empower innovation in the business operations with an agile manner, expanding global market reach, regulatory compliance, assure application performance, and lastly management of cost incurred in adopting multi-cloud environments. For instance, cloud management platform by the market leaderVMware, Inc (US) offers availing provision infrastructure and application resources such as API, Catalog, and/or CLI of clients’ need depending upon the set of prior defined policies and sanctions; management of multi-cloud platforms from different public, private, or hybrid cloud providers; automation of provisioning and maintenance of resources including components and their relationships; operations management through integrated information regarding the strength and usage, automated performance monitoring and management, augmented decision making on ability as well as for ecasting, and lastly proactively discovering and resolving issues to prevent their impact on consumers. Furthermore, their cost management approach is embedded with data-driven analysis of capacity forecasting, planning according to the workload, acquiring and utilizing resources, etc.
Some of the factors that drive the cloud system management market include the rising use of cloud-based solutions, an increase in shift from conventional systems to cloud platforms, and surging demand for simplified management of cloud environments. In contrast, the rising concerns over data security and privacy issues are hampering this growth. However, the market is driven by heavy investments in the cloud industry.
The global cloud system management market has been segmented based on component, deployment, organization size,vertical, and region.
By component, the global cloud system management market has been dividedintoIT operations management, IT service management, and IT automation & configuration management.
Based on its deployment, the market is bifurcated into cloud and on-premises.
By organization size, the global cloud system management market has been divided intolarge enterprise and small & medium enterprise.
On the basis of vertical, the global cloud system management market has been segmented into BFSI, IT & telecommunications, government, retail & consumer goods, manufacturing, energy & utility, media & entertainment, amongothers.
The global cloud system management market has been analyzed for five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
The global cloud system management market is estimated to register arobust CAGR over the forecast period. The geographic analysis of the global cloud system management market has been conductedfor North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North Americais expected to register the largest market share due to the risein demand forIT system and service management softwareacross industry verticals in this region. The US is expected to lead the country-level market in North Americaregion owing to the factors such as rising demand for multi-cloud management system among end-use industry verticals including BFSI, IT& telecommunications, government, retail & consumer goods, manufacturing, energy & utility, media & entertainment, and others. Additionally, the presence of major players such asVMware, Inc (US), Microsoft (US), IBM Corporation (US), Cisco Systems, Inc. (US), BMC Software, Inc. (US), New Relic, Inc. (US), Splunk Inc. (US), ServiceNow (US), Dynatrace LLC (US), Datadog (US),Oracle (US), Broadcom (US), Amazon Web Services, Inc. (US), Google (US), among others. Adding more, these key players are investing heavily in the research & development of cloud technology.
Europe is expected to be the second-largest market during the review period due to the higher adoption from the IT & telecommunications sector,mainly for IT service management and automation & configuration management. Also, the benefits offered by cloud system management, such as agility, efficiency, choice, and control to make the cloud management experience seamless.Asia-Pacific is anticipated to be the fastest-growingmarket in the global cloud system managementmarket during the forecast period, mainly due to the digital transformation and rising adoption of cloud-based services.
The global cloud system management market is witnessing a high growth mainly due to the rising use of cloud-based solutions, increase in shift from conventional systems to cloud platforms, and surging demand for simplified management of cloud environments. Major players have opted for partnerships,acquisitions, and product developments as their key organic growth strategies to enhance their positions in the market and cater to the demands of end-useverticals. Also, the industry players are competing to provide seamless infrastructure automation, enhanced user experience, regulatory compliance, and so on.
Impact of COVID19
The global cloud industry has reported high adoption of different cloud-based solutions for business continuity during the pandemic situation raised due to the outbreak of novel coronavirus.It shifted on the conventional working environments to the new normal of remotely working scenarios to break the chain of spreading the disease. The adoption of digital platforms up surged during the pandemic situation and is expected to continue till the time of vaccination of each individual sitting at the remote places of the world. On the other hand, businesses are investing and expanding their IT budgets to adapt and cater to the customer needs for business continuity. Additionally, the end-use verticals such as media & entertainment, online learning platforms, energy & utility are projected to expand further with their digital infrastructure spending.
On April 14, 2021, ServiceNow has partnered with technology provider- Oracle to provide their customers with integrated ITOM Visibility with the Oracle Cloud Infrastructure.This integrated solution provides visibility into multi-cloud infrastructure as a service, platform as a service and containers as service resources.
On April 13, 2021, Telos Corporationsigned an agreement with Microsoft customers to provide Telos’s Xacta® solution will be available to support all Microsoft Azure U.S. Government cloud instances and enables track their compliance status against centrally managed compliance policies and ensure compliance for future.
On April 12, 2021, VMware, Inc announced a partnership withEntrust,a leading solution provider of trusted identity, payments, and data protection. This collaboration is intended towards providing Entrust’s HyTrust CloudControl solution now integrated with VMware’s VMware Cloud Foundation that enables unified security as well as compliance controls.
The key players in theglobal cloud system managementmarket are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These includeVMware, Inc (US), Microsoft (US), IBM Corporation (US), Cisco Systems, Inc. (US), BMC Software, Inc. (US), New Relic, Inc. (US), Splunk Inc. (US), ServiceNow (US), Dynatrace LLC (US), Datadog (US), Micro Focus (UK), Oracle (US), Broadcom (US), Amazon Web Services, Inc. (US), and Google (US). The key strategies adopted by most of the players are partnerships,acquisitions, agreements, and collaborations.
Global Cloud System Management Market, 2018–2027 (USD Billion)
Source: MRFR Analysis
|Market Size||USD 46.5 billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||component, deployment, organization size, vertical, and region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Value-added resellers (VARs) Government authorities Network operators Technology consultants Investors and venture capitalists Chief financial officers|
|Key Market Opportunities||increase in shift from conventional systems to cloud platforms, and surging demand for simplified management of cloud environments|
|Key Market Drivers||cloud-based solutions for business continuity|