Multi-cloud Management Market size is poised to reach USD 90 Billion by the end of 2036, growing at a CAGR of 30% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of multi-cloud management was USD 9 Billion. This growth is driven by the scalability, accessibility, and cost efficiency of public cloud services, which are crucial for businesses aiming to optimize their operations across various multi-cloud providers through a centralized platforms. Accenture reports that migrating business operations to the public cloud can reduce total cost of ownership by as much as 40%, highlighting the financial advantages of leveraging public deployments within Multi-cloud Management frameworks.
In addition to these, other factors that are believed to fuel the market growth include integration of cloud automation and advanced AI and ML analytics. These technologies addresses the scarcity of human resources for managing complex cloud infrastructures and enable predictive maintenance and efficient capacity planning.
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
~30% |
Base Year Market Size (2023) |
~ USD 9 Billion |
Forecast Year Market Size (2036) |
~ USD 90 Billion |
Regional Scope |
|
Growth Drivers
Challenges
Enterprise Size (SMEs, Large Enterprises)
The large enterprises segment is predicted to account for 75% share of the global multi-cloud management market by 2036. This significant growth is primarily due to large enterprises strategically embracing multi-cloud strategies. A staggering 92% of organizations in the US have either implemented or are currently pursuing multi-cloud strategies. Moreover, 83% of large enterprises have adopted hybrid cloud infrastructure, further emphasizing the shift towards more versatile cloud solutions. By selectively adopting various cloud services, these enterprises can significantly enhance their operational efficiency and reduce latency.
End User (IT & ITeS, BFSI, Healthcare and Life Science)
The BFSI segment is predicted to account for 37% share of the global multi-cloud management market by 2036. The segment growth can be attributed due to gravitating towards cloud-based solutions to boost operational efficiency and customer service. Emphasizing resilience, BFSI firms prefer multi-cloud setups to ensure continuity in case of single cloud failures. This pivot is also driven by the need of regulatory compliance and secure operations in banking sector as it encompasses huge number of transactions.
Our in-depth analysis of the global market includes the following segments:
Type |
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Enterprise Size |
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End Users |
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North American Market Forecast
The North America multi-cloud management market is anticipated to hold the largest with a share of about 35% by the end of 2036. The anticipated expansion of the market in this region can be attributed to the multitude factors, notably the dynamic adoption of cloud services by major enterprises and startups alike, the persistence of technological advancements, and the substantial presence of premier cloud services providers such as Microsoft, AWS, and Google Cloud. As per the surveys conducted, AWS have a largest sector of 33% for cloud infrastructure followed by Microsoft azure and Google with market share 22% and 10% respectively. Additionally, the dynamic and complex business landscape of North American countries including US and Canada necessitates efficient Multi-cloud Management solutions, further fueling the expansion of this sector. In region, the cloud service is quickly switching to platforms combining onsite, public and private IaaS from isolated cloud solution.
European Market Analysis
Multi-cloud management market in Europe is estimated to be the second largest, registering a share of about 30% by the end of 2036. The market’s expansion can be attributed majorly to the robust connectivity infrastructure, which is pivotal in driving cloud service adoption. Europe is witnessing a market migration of workloads to the cloud, aimed at reducing expenses linked to fixed capacity infrastructure and at capitalizing on cloud native service for deploying scalable cloud-based infrastructure. Furthermore, the establishment of several multi-cloud architectural in U.K., Germany, France in Europe is propelling the demand for Multi-cloud Management solutions. The relationship between these growth drivers and the market is synergistic, as businesses seek to enhance scalability and cost efficiency, the market responds with increased offerings and innovations in Multi-cloud Management, thereby fueling further adoption and market expansion.
Author Credits: Abhishek Verma, Hetal Singh
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