Cloud System Management Market Overview
Cloud System Management Market Size was valued at USD 2.1 billion in 2022. The Cloud System Management market industry is projected to grow from USD 2.34 Billion in 2023 to USD 5.59 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.50% during the forecast period (2023 - 2032). Rapidly implementing virtualized workloads and improved productivity in the workplace are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Cloud System Management Market Trends
Growing adoption of private and hybrid clouds is driving market growth
Market CAGR for cloud system management is driven by the rising the increasing demand for cloud services that streamline the administration of heterogeneous cloud infrastructures and the increased popularity of hybrid and multi-cloud strategies among enterprises of all sizes and industries. Increased interest in cloud-based technologies from a wide range of industries is helping to fuel the growth of the cloud systems management software market.
With AIOps capabilities, businesses have access to a plethora of tools for automating their IT operations. Organizations are being encouraged to use AIOps solutions due to their capacity for root cause investigation, anomaly identification, and enhanced actionable insights. Companies that adopt AIOps solutions can foresee potential problems and prepare for them. These products assist businesses avoid the expenses caused with application and infrastructure failures. With the use of AIOps systems, businesses can automation alert distribution, problem tracking, and information-sharing. Additionally, in recent years, many businesses have invested a sizable percentage of their profits in their IT infrastructure.
Additionally, Cost reduction, ease of management, dependability, flexibility, and strategic advantage are just a few ways cloud-based system solutions aid businesses. Also, corporations are hesitant to shift data to the cloud and instead choose on-premises infrastructure to keep critical information due to concerns over privacy and security. There have been many breakthroughs and innovations in cloud computing, but the biggest challenges have been security and interoperability.
For instance, Microsoft has introduced a healthcare-specific cloud service. Caregiver productivity and doctor-patient bonds can both benefit from this innovation. As a result, it is anticipated that demand for Cloud System Management will increase throughout the projection period due to the rising technology rate. Thus, the driving factor of the Cloud System Management market revenue.
Cloud System Management Market Segment Insights
Cloud System Management Component Insights
The Cloud System Management market segmentation, based on Components, includes IT operations management, IT service management, and IT automation & configuration management. The IT operations management category held the largest share. The expansion of this market segment is anticipated to be driven by the rising interest in network management, server, and device administration, computer operations, IT infrastructure library management, and help desk services are just some of the areas that benefit from IT operations management (ITOM), which allows for more efficient deployment of applications to internal and external customers.
Cloud System Management Deployment Insights
The Cloud System Management market segmentation, based on deployment, includes cloud and on-premises. The cloud category is expected to grow fastest and capture the market's largest share. The increasing popularity of cloud-based services and solutions among consumers is largely responsible for the sector's expansion. The on-premises solution is the sole option for highly regulated sectors like government and banking that require the highest levels of security and privacy.
Figure 1: Cloud System Management Market, by Deployment, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Cloud System Management Organization Size Insights
The Cloud System Management market segmentation, based on Organization Size, includes large enterprises and SMEs. The large enterprises category generated the most income and capture the market's largest share. Cloud System Management solutions hosted in the cloud benefit SMEs because they reduce costs and increase scalability.
Cloud System Management Vertical Insights
The Cloud System Management market segmentation, based on vertical includes BFSI, telecommunication & IT, government, manufacturing and others. The BFSI segment dominated the market, accounting for 40% of market revenue (70.50 billion). The BFSI sector dominated its market in 2022, Fintech and financial institutions increasingly use decentralized applications based on AI technology, contributing to the industry's supremacy. Financial institutions are eager to launch new initiatives based on cloud system management services.
Cloud System Management Regional Insights
By Region, the study provides the market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Cloud System Management market will dominate this market, owing to increased interest and a rising number of cloud management initiatives in both countries. In addition, governments across North America are actively working to integrate cloud-based AI solutions across a wide range of sectors, including public utilities, defense and military, financial institutions, transportation hubs, and airports.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CLOUD SYSTEM MANAGEMENT MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe’s Cloud System Management market accounts for the second-largest market share due to increasing usage of cloud-based technologies and the prevalence of digital government initiatives and regulatory regimes in the region are expected to fuel expansion. Further, the German Cloud System Management market held the largest market share, and the UK Cloud System Management market was the fastest-growing market in the European region.
The Asia-Pacific Cloud System Management Market is expected to grow at the fastest CAGR from 2023 to 2032. The regional market expansion is anticipated to be fueled by the increased investments made by governments and increased urbanization, technological advancement, and government spending on the digital economy. Moreover, China’s Cloud System Management market held the largest market share, and the Indian Cloud System Management market was the fastest-growing market in the Asia-Pacific region.
For instance, according to the State Council's Development Research Center, the cloud computing market will be worth $42.3 billion by 2023. (DRC). The increase from its 2018 market value is more than twofold. In this time frame, cloud computing will be integral to the day-to-day operations of over 60% of the nation's businesses and government agencies.
Cloud System Management Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Cloud System Management market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Cloud System Management industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers are in the Cloud System Management industry to benefit clients and increase the market sector. In recent years, the Cloud System Management industry has offered some of the most significant technological development. Major players in the Cloud System Management market, including VMware, 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), and others are attempting to increase market demand by investing in research and development operations.
VMware is the industry standard for multi-cloud services across all apps, allowing businesses to harness digital innovation while maintaining tight control. The potential and duty to create a better, more secure, and more egalitarian future for all people lie at the center of our actions. Since our inception in 1998, our team members and collaborators have pioneered technological advancements that have changed whole markets. We have maintained an environment where inquiry is valued and action is taken in order to foster a culture of innovation. In July 2021 VMware, Inc. introduced new features to increase the financial benefits of using VMware Cloud on AWS. Business continuity, application modernization, resilience, and cloud migration were also covered, as were other criteria that are constantly evolving.
Oracle firm, headquartered in Austin, Texas, is an American computer technology firm. In terms of sales and market valuation, Oracle ranked third among software companies worldwide in 2020. Oracle's cloud infrastructure is superior in every respect, including speed, safety, and price. Businesses may quickly and efficiently shift workloads between on-premises and cloud environments, as well as between clouds. Oracle Cloud applications deliver cutting-edge tools that enable CEOs and CTOs boost innovation, sustain growth, and fortify their organizations' resilience. In March 2023, Oracle has released Java 20, the most recent version of the popular programming language and development environment.
Key Companies in the Cloud System Management market include
Cloud System Management Industry Developments
On Dec 20, 2022, Tata Motors announced that it has migrated its dealer management system to Oracle cloud infrastructure (OCI) to enhance productivity. The move is also expected to bolster the operational efficiencies of the automotive giant, availing deeper business insights, enhanced security, increased flexibility, and cost optimization.
Tata Motors' dealer management system serves 60,000 users and supports pre-sales, sales, and after-sales market touchpoints across passenger and commercial vehicle segments. With its Dealer Management System's modernization, the organization will be able to monitor sales performance and improve collaboration effectively across its dealer network.
On Nov.30, 2022, Cisco announced that it is working on bettering the user experience with its cloud-management service by improving the performance and observability of cloud-based enterprise applications. At the AWS re: Invent conference, Cisco announced the addition of business transaction insights to its AppDynamics Cloud management platform.
Cisco said it had added a new feature, business transaction insights, to its AppDynamics Cloud system, enabling it to more easily track the performance of applications running on the AWS Cloud, including on microservices, Kubernetes, and other AWS infrastructure. AppDynamics Cloud is a cloud-native service designed to monitor applications and take action to remediate performance problems.
On Nov.10, 2022, Okta, a provider of identity and access management (IAM) solutions, launched a newly streamlined Consumer Identity Cloud system designed to simplify the deployment and use of its various products. The incorporation of Auth0 features and integrated management highlights the new cloud-based IAM system.
On Aug 26, 2022, 11:11 Systems (US), a leading IT service management company, announced the acquisition of Sungard AS, a Cloud Managed Services business of Sungard Availability Services. The deal will expand 11:11's footprint to thirteen additional cloud points of presence. Besides, the acquisition will add highly skilled employees and cloud management expertise, customer service, AWS & Azure professional services, and cybersecurity.
Cloud System Management Market Segmentation
Cloud System Management Component Outlook
Cloud System Management Deployment Outlook
Cloud System Management Organization Size Outlook
Cloud System Management Vertical Outlook
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BFSI
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IT & Telecommunication
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Government
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Retail & Consumer Goods
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Manufacturing
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Energy & Utility
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Media & Entertainment
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Others
Cloud System Management Regional Outlook
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Middle East
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Africa
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Latin America
Cloud System Management Market Highlights:
