Multi-Cloud Management Market 2020 by Regional Trends, Analysis & Growth Forecast To 2026

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Multi-Cloud Management Market 2020 by Current
Trends, Growth and Regional Forecast To 2026
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Key Insights Multi-Cloud Management Market

• The multi-cloud management market is still in its
  initial phase, with only few enterprise-level
  deployments. The platform eliminates the crucial
  challenges such as vendor lock-in, higher cost,
  latency, enhanced security and compliance for
  cloud-based models and hence, has emerged as a
  major trend in the field of cloud services.
  Additionally, the small and medium enterprises
  are adopting multi-cloud services and moving
  their applications on cloud-based platforms. By
  using multi - cloud the enterprises can
  significantly minimize the dependency on a single
  vendor.
• However, the applications which are truly built
  on multi-cloud platform are difficult to manage
  as different clouds use different management
  interfaces and APIs. These challenges are further
  affecting the multi-cloud management market
  growth.
• Multi-cloud management involves a cloud platform
  that enables enterprises to transfer their
  workloads on multiple clouds including Software
  as a Service (SaaS), Infrastructure as a Service
  IaaS, and Platform as a Service (PaaS), depending
  upon the criticality of information. The rising
  adoption of multi-cloud services from several
  industry verticals including BFSI, government,
  hospitality, retail, and consumer goods is
  expected to significantly facilitate the
  multi-cloud management market growth.

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Continued

• This is mainly due to substantial features
  associated with cloud services such as faster
  deployment, minimized operational cost,
  flexibility, and scalability over traditional
  on-premise IT solutions. With the increasing
  workload, enterprises subscribe to different
  cloud service providers to improve operational
  efficiency. The demand for multi-cloud management
  is expected to rise swiftly in line with growing
  adoption for managing growing operational
  complexities in enterprise environments.

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Major Companies In Multi-Cloud Management Market

• The companies operating in the multi-cloud
  management market are engaged in strategic
  mergers and acquisitions in order to strengthen
  their foothold in the market. For instance, In
  November 2019, Red Hat, Inc. acquired a startup
  company named NooBaa. The company specialized in
  developing software or managing data storage
  services across hybrid and multi cloud
  environments. The acquisition helped Red Hat in
  expansion of their existing hybrid cloud
  portfolio.
• The global multi-cloud management market is as it
  is highly competitive as the market is fragmented
  with several regional and global players. Some of
  the major player operating in this market are
  Accenture, BMC Software, Inc., Centurylink,
  Citrix Systems, Inc., Cisco Systems, Inc.,
  Cloudmore, Cloudyn, Dell Inc., DoubleHorn, IBM
  Corporation, Jamcracker, Inc., RightScale,
  Flexera, SixSq Sarl, Turbonomic, Inc, and VMware,
  Inc.

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Regional Multi-Cloud Management Market

• North America dominates the global multi-cloud
  management market accounting for a significant
  share. The dominance of North America can be
  attributed to early adoption of technology across
  the region. Also, the organizations are inclining
  towards cost-effective cloud-deployment.
  Furthermore, the growth of Asia Pacific region is
  due to high internet penetration, rising
  popularity of social media solutions and other
  online platforms.

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