Cloud Management Market: By Type, By End User, Government And Defense, E-Commerce, Energy And Utilities, Retail and Others) and Geography
Cloud Management Market size was valued at US$ 10,634.6 Million in 2022 and is anticipated to grow at a CAGR of 7.9 % over 2023-2029. Cloud management refers to the set of processes, tools, and practices used to oversee and control the utilization, monitoring, optimization, security, and governance of cloud resources and services. As businesses increasingly adopt cloud computing, effective cloud management becomes crucial to ensure the efficient operation of cloud environments while meeting organizational goals and compliance requirements. The proliferation of multi-cloud and hybrid environments plays a pivotal role in driving the revenues of the cloud management market. As organizations increasingly adopt cloud computing, many are opting for diverse strategies that involve using multiple cloud service providers or a combination of on-premises infrastructure and cloud resources. This complex landscape brings forth challenges in managing and orchestrating resources across different platforms seamlessly. Cloud management solutions are uniquely positioned to address these challenges by offering centralized control, automation, and optimization tools that span various cloud providers and on-premises environments. Moreover, factors such as resource scalability, cost optimization, and complexity management are fundamental drivers propelling the growth of the cloud management market. Cloud management solutions address the dynamic nature of cloud environments by offering automated resource scalability, enabling organizations to match resource allocation with changing demand. These solutions empower businesses to optimize costs by providing insights into resource consumption, identifying idle or underutilized assets, and suggesting strategies for cost reduction. As cloud environments become increasingly complex with numerous components and services, cloud management tools provide a centralized platform to simplify management, orchestrate resources, and enhance visibility across multi-cloud and hybrid setups. However, implementing cloud management solutions can be complex and time-consuming, especially when integrating with existing IT infrastructure, legacy systems, and multiple cloud platforms. This complexity might deter some organizations from adopting such solutions. Meanwhile, automation and AI-driven management solutions of cloud management further create opportunities for market growth. Several market players are developing innovative solutions to cater to various end-users. For instance, in April 2023, Cognizant introduced Skygrade, a hybrid cloud and edge management platform that assists companies in adopting modern cloud-native architectures and simplifying their cloud management operations.
Cloud Management Market Key Developments:
Study Period
2024-2030Base Year
2023CAGR
15.8%Largest Market
North AmericaFastest Growing Market
Asia Pacific
The adoption of cloud management solutions is increasing so as to optimize storage allocation and management and support the monitoring of end-user’s access to the enterprise computing infrastructure. Enterprises are deploying private cloud infrastructure to meet storage and internal computing requirements and are adopting cloud management solutions to efficiently manage the network thus driving the market.
North America accounted for larger revenue share in global cloud management market with considerable CAGR. The growth on this region is due to the presence of number of solution providers in the US. In addition, Asia Pacific held considerable market share during estimated period owing to increasing investments by regional players in developing economies. Also, China and India are the main contributors for the market growth as there are various government initiatives for the development of cloud infrastructure and to encourage digital technologies.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market CAGR |
15.8% |
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By Type |
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By End User |
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By Region |
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Incorporating artificial intelligence (AI) and machine learning (ML) into cloud management solutions stands out as a significant trend within the cloud management market.
Enhanced cost optimization features, including predictive cost analysis, real-time budget tracking, and recommendations for cost-saving strategies are some of the factors that create opportunities for companies to enhance their revenue over the forecast years.
The cloud management market size was valued at US$ 10,634.6 million in 2022
15. Key Assumptions and Acronyms
Key Market Players
Author
Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of experience in the field of market research. Sravani is adept at creating competitive evaluations, precise market estimations, and market projections, emphasizing the food and beverage and information and communication technology (ICT) industries. Her areas of competence are identifying important players, projecting market trends, and assessing the potential for industry growth. She applies a strong analytical approach to provide precise market estimates and thorough industry analysis, empowering organizations to make data-driven decisions. Sravani's estimating and forecasting abilities are essential for businesses to take advantage of new opportunities and effectively manage dynamic market environments.
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