According to a new report, published by KBV research, The Global Multi-Cloud Management Market size is expected to reach $68.7 billion by 2031, rising at a market growth of 27.3% CAGR during the forecast period.
The Small & Medium Enterprise (SME) segment exhibits a CAGR of 28.7% during (2024 - 2031). SMEs often have limited IT budgets and resources. Multi-cloud management allows them to take advantage of the cost-effectiveness of cloud computing by leveraging multiple cloud providers and optimizing costs based on workload requirements and pricing models. Also, SMEs require flexibility and scalability to adapt to changing business needs and growth opportunities. Multi-cloud management enables them to scale resources up or down dynamically across different cloud platforms, ensuring agility and responsiveness without overprovisioning resources.
The Cloud Automation segment is generating the highest revenue in the Global Multi-Cloud Management Market by Service Type in 2023; thereby, achieving a market value of $19.4 billion by 2031. Cloud automation enables organizations to automate manual, repetitive tasks such as provisioning, configuring, scaling, and deploying cloud resources. By automating these tasks, organizations can improve operational efficiency, reduce human errors, and accelerate the delivery of applications and services. In multi-cloud environments, where resources are distributed across multiple cloud platforms, automation becomes essential to streamline operations and enhance agility.
The Public segment is registering a CAGR of 26.6% during (2024 - 2031). Public cloud providers offer a wide range of services and features, allowing businesses to choose the most suitable provider for their specific needs. As a result, many organizations are adopting a multi-cloud strategy that includes multiple public cloud providers to leverage the unique capabilities and strengths of each platform. Also, public cloud providers have a global presence with data centers located in various regions around the world.
The Infrastructure & Resource Management segment is leading the Global Multi-Cloud Management Market by Application in 2023; thereby, achieving a market value of $19.6 billion by 2031. Multi-cloud environments often involve diverse workloads with varying resource requirements. Infrastructure and resource management solutions help organizations optimize resource allocation, utilization, and performance across multiple cloud platforms. These solutions enable organizations to allocate resources efficiently, minimize waste, and maximize ROI on their cloud investments by analyzing workload patterns, capacity requirements, and performance metrics.
The Government & Public Sector segment is experiencing a CAGR of 28.3% during (2024 - 2031). Governments and public sector organizations are increasingly adopting cloud technologies as part of their digital transformation initiatives to modernize their IT infrastructure, improve service delivery, and enhance citizen engagement. Multi-cloud management solutions help government agencies efficiently manage and orchestrate their cloud resources across multiple platforms, enabling them to leverage the benefits of cloud computing while ensuring security, compliance, and cost optimization.
Full Report: https://www.kbvresearch.com/multi-cloud-management-market/
The North America region dominated the Global Multi-Cloud Management Market by Region in 2023; thereby, achieving a market value of $23.3 billion by 2031. The Europe region is anticipating a CAGR of 26.8% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 28.2% during (2024 - 2031).
By Enterprise Size
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